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Having Problems Paying Your Mortgage?

Having Problems Paying Your Mortgage?

Having Problems Paying Your Mortgage?

The fear of losing your home because you’re unable to make ends meet, in addition to the added stress of late mortgage payments, can make a homeowner feel incredibly anxious . Unfortunately, this is the most common statement that we hear from most of our clients.  They feel overwhelmed but underinformed about the variety of options that they have to save their home.

Regardless if you are currently unable to pay, or if  it is getting harder to make that payment, there may be help available for you but you need to take action soon. December 30, 2016 is the deadline to apply for assistance for many federal home programs that were  created to support homeowners facing hardships with their mortgage payments.

The best program for those struggling is the the Home Affordable Modification Program (HAMP). This program offers assistance to help homeowners lower their monthly mortgage  payment.  In addition to the HAMP program, there are also other programs that offer assistance if you are no longer able to afford the payments due to loss of income or if your mortgage amounts to  more than your home value.

A smart homeowner will definitely take advantage of this opportunity as soon as possible because the longer you wait, the less options you will have available. Take advantage of these programs now:

Here are the five requirementst that make you eligible for the HAMP mortgage modification program:

  • You are seriously facing financial hardships to make your mortgage payments on time, due to medical bills, unemployment etc.
  • You have been told that you are in foreclosure.
  • You were approved for a mortgage loan on January 1, 2009, or before.
  • Your property is not on a condemnation list.
  • You owe below $729,750 on your rental property or primary residence.

Advantages of this program:

  • HAMP achieves a more affordable payment by adjusting your interest rate, extending your term, and reducing or forbearing your principal.
  • HAMP homeowners typically save about $500 per month.
  • Through HAMP, you can get help with your primary residence or rental property.
  • If you owe significantly more than your home is worth (>115 Loan-To-Value), you’re automatically evaluated for principal reduction.
  • Just for making timely payments, you could earn up to $10,000, which would be used to reduce your principal balance

More than 2 million families have been assisted so far. According to experts, homeowners who get help with housing counseling professionals face less struggle and become more successful in the long-term.

React fast because the deadline to apply for assistance is just a few weeks away. Counselors are available at 954-372-4370. You will receive 24/7 around the clock assistance regarding available options, documents you will need to apply for the program,  help preparing and finalizing your application, and they will also speak to the banks on your behalf . In addition counselors will help you customize an action plan  best for your situation.  If you’re in desperate need of mortgage help, act now! Call  954-372-4370 for more information or schedule online appointment with our agents at United Counselors.

Posted in Mortgages