I blogged several months ago about the resources that the Library has and other sources available for those having trouble paying their mortgage. This blog entry is still helpful to those that have missed payments or have had their mortgage company begin the first step towards foreclosure.
There is now new help available through the Federal Government’s Homeowner Affordability and Stability Plan that might be helpful to those folks who have mortgages ballooning or have lost all or part of their income. The first question to ask: do I qualify for this new help? To see if you might be eligible, check out the Making Home Affordable website created by the Federal Government.
The website lists two ways that the Plan might be able to help you. The first is refinancing your home. The second is what they call modification. This site helps with a Frequently Asked Questions page to determine which type of help might fit your situation. It also has a couple of questionnaires that you can fill out to determine if you might qualify for help.
The Making Home Affordable website lists additional resources that might be helpful if you are trying to keep your house and avoid foreclosure. In the future, the site will list the mortgage companies and banks that will be participating in this program. It links currently to the Hope Now Alliance website. This site lists many of the mortgage providers’ mitigation websites. Hopefully, this information can help, you or someone you know, have a place to start the process to keep their house.