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Struggling with a mortgage doesn’t have to mean foreclosure for Utah residents. Many banks offer loan modification and refinancing throughout Utah, and state and the federal government both offer many programs to help as well. Utah Government Mortgage Assistance is available, and these services and programs can take the form of free or low cost counseling for debt consolidation, loan modification and refinancing solutions, or grants and financial aid. Utah government mortgage help can be for either short term or long term problems; the primary purpose of these programs is to help Utah residents stay in their homes and avoid foreclosure
Many have found help through HUD, the government funded Housing and Urban Development association. HUD can help for little to no costs by providing a counselor to work directly with the homeowner for credit repair, debt management and financial aid.
In the Utah or Provo county areas, residents can contact the Community Action Services and Food Bank for mortgage default counseling, assistance with heating and utility costs, and multiple grants and financial aid, all run through HUD approved guidelines. This service also provides access to food for needy families.
For Federal government mortgage assistance, Utah offers many programs. Fannie Mae and Freddie Mac, government owned bank entities, are offering mortgage assistance programs that provide counseling and financial aid. Freddie Mac has launched the Borrower Help Network designed to put Utah homeowners in touch with the aid that they need to stay in their homes.
Utah government mortgage help also comes in the form of the Making Home Affordable Program, which works with banks and lenders to offer loan modification programs and refinancing. The Home Affordable Refinance and the Home Affordable Modification platforms are also available under this program.
Utah government mortgage assistance plans are available for military families such as the Military Homeowner’s Assistance Plan and the Civil Relief Act, both of which can stop foreclosure in Utah and lower interest rates for struggling service members.
Hope for Homeowners, an FHA approved program, works with lenders and homeowners throughout Utah to pay down their mortgages or refinance. This program is a good choice for those who are upside down on their home, owing more than the home is worth. The FHA also offers a Home Affordable Modification Program, known as FHA-HAMP.
The United States government has given billions of dollars to many states, including Utah, to use for grants and financial aid for the low income or middle class homeowner. They have also provided funding for many Utah law offices to provide free or low cost mortgage counseling and foreclosure assistance.
There are many options to choose from when seeking Utah government mortgage assistance. See the official government sponsored webpage at www.usa.gov for a full list of programs available to Utah residents.
Falling behind on mortgage payments doesn’t have to mean foreclosure for Utah residents. Homeowners have many options for Utah government mortgage assistance as well as many banks and law offices throughout the state that are willing to help them through tough economic times.
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