Foreclosure Help and Program Description

If you are facing Foreclosure help is available. There are two programs that will help to Prevent Foreclosure and one program to help if a Short Sale is an option for you. Program one is Monthly Payment Assistance, the program will, assist eligible borrowers by making their full monthly payments (PITIA) up to 12 or 24 months. Underemployment or self employment up to 6 months. Maximum assistance is $36,000 per household, including direct loan assistance and/or property disposition assistance. The additional eligibility criteria is, Must document at least one wage earner in the household is receiving unemployment compensation or has exhausted unemployment compensation within the last 12 months, or, total household income has been significantly reduced due to job loss or reduction in hours (underemployment), or, reduction in gross receipts (self employed). Homeowner must be actively seeking reemployment during the assistance period. Program two is Direct Loan Assistance, the program will make a one time payment to help bring borrowers current on their mortgage following a brief interruption in income. Maximum assistance is $20,000 per household. The additional Eligibility Criteria is the borrower must demonstrate that the circumstances that led to the delinquency have been resolved. Need more information? Just let me know. Next subject will be the Property Disposition Assistance program