There has been a lot of press regarding programs to help struggling homeowners stay in their homes. The Home Affordable Mortgage Program is just one avenue to avoid possible foreclosure. Up until this point, however, homeowners could only get assistance if the situation that put them in financial distress in the first place had been resolved. Unfortunately, this left people who were victims of the declining job market without options for aid. Now unemployed homeowners in 18 states can also get the help they need.
fast cash loans without bank account, quick cash loans, cash loans,
The federal government realized that some states throughout the country were worse off than others and established the Hardest Hit Fund in February 2010. States exhibiting a greater than 20% decline in home prices since the downward spiral of the housing market or states struggling with unemployment rates at or above the national average were designated to receive funds. Eighteen states were designated to receive funds: Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina and Tennessee.
President Obama's Hardest Hit Fund was established over a year ago and was specifically intended to help homeowners that were out of work. Depending on the state you live in, unemployed homeowners can receive up to $3,000 a month to pay their mortgage, up to a maximum of 36 months. The rules and guidelines vary in each state.
Although the federal government provided each designated state with anywhere from 20 million to almost 2 billion dollars as part of this program, states have been slow to roll the program out. This is due, in part, to each state being given the flexibility to create state specific guidelines for assistance. The government felt this was the most effective way for each state to tailor the program to best meet the needs of their specific economic situation.
The 32 states that were not included in the Hardest Hit Fund were left to take care of themselves. Or, so they thought. The Housing and Urban Development (HUD) program has stated they will help any state not covered by Obama's program that has a high foreclosure rate. HUD's plan is to make accessible no interest loans for emergency mortgage relief.
If you are unemployed and need help staying in your home, there are options available to you. The U.S. Treasury website lists the guidelines for each Hardest Hit Fund state. Additionally, if you live in one of the undesignated states, you can look to HUD's website for more information on their program.
Look For Fast Cash Up To $ 1500 Online. You Will Receive Cash Immediately. Get Approved Fast. Apply Online Today!
Rating of cash loan
Get Online Application at online payday loans.
0 comments:
Post a Comment