August 2012
Neighborhood Mortgage Assistance Program Unemployed Home Owners Do you have a mortgage and just lost your job? There is a program designed to provide assistance to unemployed home owners struggling to keep up with their payments. United States Department of Agriculture, Federal Housing Administration, and Veteran Affairs all offer programs for struggling home owners that strive to lower monthly mortgage payments to one third (31%) of your verified monthly (pre-tax) income - making monthly mortgage payments much more affordable. Depending on your situation, you may be able to reduce your mortgage payments or suspend them altogether for 12 months or more. Do you need to refinance? The government wants to help you keep your home. There are programs to help people get their homes refinanced at a reduced rate, especially those persons who have refinanced or purchased a home in the last seven years. When you have less than 20% equity in your home, you may be eligible for a refinancing program from the government. Are you looking at refinancing a home because the value of your home has declined and you feel that you are paying too much for the home? If so, then you may be eligible to refinance. There are programs designed to assist people to get new, more affordable mortgages. Let us help you. Struggling to make your payments? If you are struggling to make your mortgage payments and are not unemployed, you may be eligible to modify your payments. You may be able to lower your monthly mortgage payments to 31% of your verified monthly gross (pre-tax) income, which usually provides savings of hundreds of dollars per month.