It is possible to avoid foreclosure using government grants that could let you keep your home. There are now government options that you can pursue if you’re behind on your mortgage payments. The severity of your arrearage will often determine what program types you could be eligible for to get help. Not every homeowner will meet the qualifications that are necessary to get approval for government grants. The Obama Administration made several options available to homeowners that need prompt help in 2010 and again in 2012. You do have options if you know where to turn to stop foreclosure.
Avoid Foreclosure Using Government Grants
You could be eligible for one or more programs depending on your circumstances. One common program is known as the Making Home Affordable program. This could give you the option of lowering your monthly house payment to avoid foreclosure. This could help you drop your current mortgage payment by up to 40 percent. The Making Home Affordable program does have limitations. If you have a first or second mortgage, you might not meet the guidelines for approval. You must also be current on payments to use this programs benefits. Homeowners that are underwater with a mortgage might be forced to seek additional options for recovery.
If you are currently unemployed, there are government grants that you could apply for to receive assistance. The Home Affordable Unemployment Program could provide up to 12 months of your mortgage forgiven if you qualify. To use this program, you have to meet strict guidelines while constantly searching for new employment. Your mortgage must also have been obtained before January 2009. In some cases, you might not be eligible for total forbearance. You could be required to pay up to 31 percent of the original mortgage monthly payment. Your personal scenario would need to be evaluated upon consideration of the program.
Principal reduction or PPA is a government grant that you could qualify for to help you if you owe more on your home that what it is worth. The reduction of the principal is designed to help you pay down the loan in a reasonable amount of time. The goal of this grant is to help you bring down the cost of your payment by reducing the principal of the loan. You can explore sales options after your mortgage is current. This program is not available to all homeowners. It also requires a lengthy application process. There is help available but it takes time. Time is something that you might not have right now.
“Avoid Foreclosure Using Government Grants”
Avoid Foreclosure works hard for homeowners that need help and can’t find any. There are government grants to help you. There are some banks willing to help you. The problem is that you are likely running out of time and need a faster solution. Our experts are here to help you instantly. Call us today at 1-800-589-4106. We know foreclosure and how it can be stopped. We’ve already helped hundreds of homeowners that had no place to turn. Our experts will help you instantly when you call. You won’t have to spend time searching for programs to avoid foreclosure using government grants.