July 12, 2024

Government home foreclosure help
Government home foreclosure help

San Diego homeowners – – well actually this applies to any homeowner in the US. If you’re in danger of a home foreclosure you just have a couple weeks left (set to end on 7-22-11) to take advantage of the federal government’s emergency homeowners loan program.

If you have been a  consistent reader of my blog, you know I’m not in favor of all these government real estate bail-out programs. Practically all of them, when audited  by the Congressional Budget Office have proved to be dismal failures. But, with that said, if one is in financial trouble, and wants to keep their home, why not take advantage of the generous government bail-outs?

With this current program, The Emergency Homeowners Loan Program, eligible homeowners who qualify, can get a interest free loan to pay a portion of their mortgage for up to two years, or up to $50,000, whichever comes first. This money can also be used to pay off missed mortgage payments and past due late charges, including principal interest taxes and insurance and even attorneys fees.

Some of the main requirements on this program to qualify are, a household income no greater than $75,000 or 120% of the area median income. Also, homeowners must be at least three months delinquent on mortgage payments and have received a notification of intent to foreclose.

This government program will give out loans to as many as 30,000 homeowners, and will have an average loan amount of about $35,000.

This program is available in 27 states, and in most states, the homeowner must apply through a participating credit counseling agency.

To get the full details on this program one should immediately go to FINDEHLP.ORG or call 855–346–3345 for further information.

San Francisco real estate

2 thoughts on “Emergency Homeowners Loan Program

  1. You have not paid your mortgage in nearly a year, and the educated homebuyer realize the Govt has allowed millions of you to be in that position so your homes don’t hit the market (which gives the illusion that the home prices are nearing stability). Which is why I will NEVER buy a house until the true prices hit a bottom. America, welcome to the END. RIP

  2. I Love all the doom and gloom. When there’s blood in the water…right? The age old adage is that we should invest when no one else wants to. But why is it so difficult to do?

    Real estate is definitely not like it was 4 years ago, but is now a good opportunity again?

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