The U.S. Department of Housing and Urban Development (HUD) has created programs designed to assist struggling homeowners who are in danger of losing their houses to foreclosure due to unemployment.
- Under the “Home Affordable Unemployment Program” eligible unemployed homeowners who are looking for jobs may have their mortgage payments temporarily reduced or even suspended for up to 12 months.
- The HUD offers an Emergency Homeowners’ Loan Program (EHLP) to struggling homeowners.
- Some struggling homeowners may qualify for the Federal Housing Administration’s Special Forbearance, which can lessen or reduce monthly mortgage payments for a period of time.
Individuals who are struggling to meet their monthly mortgage payments may benefit from a number of these programs. Fortunately, a skilled attorney will be aware of each and every government program designed to assist struggling homeowners.
The foreclosure defense attorneys at Hong Law, PLC can offer valuable assistance in renegotiating mortgages or creating new payment arrangements that will enable you to keep your home. To learn more, call us at (319) 294-5853 today.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office