Avoiding Scams And Bad Actors
Beware of coronavirus-related scams
Submit a complaint
If you have a problem with a consumer financial product or service, you can try reaching out to the company first. Companies can usually answer questions unique to your situation and more specific to the products and services they offer. We can also help you connect with the company if you have a complaint. You can submit to the CFPB online or by calling .
Federal laws prohibit housing discrimination. The protections they offer differ somewhat depending on whether you own or rent your home.
If you own your home, lenders and servicers may not discriminate against you for mortgage servicing practices such as forbearance and loan modifications based on your race, color, religion, national origin, sex , marital status, age, family status , disability, whether you are receiving money from a public assistance program, or whether you are exercising your rights under certain consumer protection and fair housing laws. If you believe a lender or mortgage servicer has discriminated against you, you generally can submit a complaint with the CFPB or file a fair housing complaint with HUD. More information on fair lending and protections against discrimination can be found on the and HUDs websites.
State Programs That Help With Mortgage Payments
However, if you are a disabled person and need help with your mortgage payments, then you can get help from the states as well. Yes, different states have different programs to help their people. Those programs also include mortgage grants for disabled people. They offer the mortgage assistance program to disabled buyers and make sure that get the house for living and without any issue. However, their mortgage assistance programs for disabled people will differ from state to state.
Lets take an example to understand this, the Pennsylvania Housing Finance Agency provides home loans to disabled people. They offer housing assistance to them with the competitive interest rates from the Keystone Home Loan and Keystone Government Loan. Although, the buyers who are qualified for their assistance program will get help to make their homes accessible.
Like this, Michigan State Housing Development Authority provides down payment assistance for disabled people that is up to $12,000. They provide this facility to them from the Home Choice Down payment assistance program. Even from this program, only those people can get advantage who has a disabled individual in their family.
Even, if you are a disabled person and need help for a mortgage grant or housing assistance then you can get help from your states housing finance agency or the housing development authority. You can get help to know about the available programs that will be helpful for you to buy a home or pay for it.
Available Mortgage Payment Grants
There are some grant programs are available that can help the homeowners to pay for the mortgage payments. But all those programs have some eligibility requirements to qualify for them and after that one can get a grant amount from them. These requirements include different factors such as income, residency, house value, applicants mortgage payment amount, and others. Apart from the mortgage payments, some grants assist with negotiating a lower mortgage payment. You can look for the program that is mentioned below that can help you to pay for the mortgage payments.
Also Check: Cheap Bankruptcy Chapter 7
Homeowners Assistance For Victims Of Covid
Due to the corona virus, the economy was shivery affected and many people either faced laid off or experienced cuts in their monthly salaries, the government has taken some steps to protect homeowners during this difficult time. The protection was offered to the homeowners through the Federal Housing Authority and the government lending agencies Fannie Mae and Freddie Mac. As per the protections offered, Fannie Mae and Freddie Mac completely suspended or lowered the monthly installments of the families who had been affected directly or indirectly by the virus. Evictions and foreclosures are also suspended. Also, Homeowners will not be asked to make the payment of the suspension period in one go after the suspension period is over.
However, the private lenders also offer some relaxation to the borrowers if they are impacted by the pandemic. Even they also stop the restriction of foreclosure for some time, if you are suffering from a financial crisis and tell them everything about it. They will help you by providing the three months time to pay the payments or give you relief from the payments if you are facing issues because of the finance or physical loss because of the coronavirus. Although if a borrower continues facing difficulties and is affected by the pandemic, then this relaxation can be increased up to 12 months.
Illinois Down Payment Assistance Programs
The Illinois Housing Development Authority has three down payment assistance loan options:
- Up to $6,000 Forgivable Unless you sell or refinance your home within the first 10 years, this DPA assistance loans balance would be forgiven. You could get 4% of the homes purchase price up to $6,000
- Up to $7,500 DeferredThis 0% loan would need to be repaid when you sell or refinance the home. You could borrow 5% of the homes price up to $7,500
- Up to $10,000 Repayable Youd make monthly payments on this DPA loan for 10 years. You could borrow 10% of the homes purchase price up to $10,000
To get any of these loans, youll have to put up $1,000 or 1% of the purchase price yourself. And you must be buying an existing home newbuilds are excluded.
The authority also has a special program for firstgeneration homebuyers. Its called Opening Doors, and it provides a $6,000 assistance loan thats forgiven after five years.
You May Like: Goverment Jobs In Nevada
Read Also: How Do I File Chapter 7 Bankruptcy
What If You Have A Non
Federal regulators believe most non-government-backed lenders and loan servicers will adopt policies similar to those mandated by the CARES Act and subsequent legislation. To find out, contact your loan servicer, ask what programs it has in place to provide mortgage relief to homeowners impacted by the coronavirus outbreak, and follow any instructions you are given.
Although the CARES Act does not require private lenders to offer mortgage assistance, if you and your lender come to any type of loan modification agreement, then the law regarding not reporting reduced or paused payments to does apply to you.
If your mortgage forbearance is set to expire soon, then you may be able to request an extensionbut you must apply before forbearance ends.
How We Make Money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout lifes financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Read Also: Can Bankruptcy Affect My Job Uk
Prepare Yourself And Your Family
- Make sure your state ID or drivers license is current and available. Shelters and assistance programs may have strict ID requirements.
- If possible, store your belongings. Shelters have limits on how much you may bring.
- Arrange for your mail to be delivered somewhere or talk to your local post office. Many have special services for people who are homeless. You may be able to get a free PO box or receive general delivery service.
- Pack a bag for yourself and each member of your family.
- Keep important documents and needed medications with you.
Can The Homeowner Assistance Fund Help Me
You may be eligible for financial assistance from the federal government through the Homeowner Assistance Fund. Homeowners facing financial challenges because of the COVID-19 pandemic may be eligible for part of the Funds more than $9 billion available via mortgage assistance programs administered by state and local entities. Learn more about state-level programs at ncsha.org/homeowner-assistance-fund/
Contact your mortgage servicer to discuss your situation, make them aware of your plans to request assistance, and ensure you are taking advantage of other mortgage relief options such as forbearance and payment deferrals.
Learn more about the Homeowner Assistance Fund from the HUD-approved housing counselors at Fannie Maes Disaster Response Network at 877-542-9723.
Don’t Miss: On Line Auction Houses
Charity Foundations That Help Pay Bills
There are lots of organizations and charities that are always ready to help individuals and people who are low-income or face difficulties paying their bills. These charities work across the United States and make sure that every needy person will get help from them. Even these charities and non-profit organizations help people to pay for the things that are necessary for them. It may include rent, utility bills, like heat, water, electricity bills, HVAC Grants and others. They also offer referrals so that you can get help from other agencies. So you will continue to get assistance and did not face more problems in your life.
From Where Unemployed People Will Get Help With Mortgage Grant Payments
Not only senior citizens, single mothers, and other people can get help with mortgage payments grants. But unemployed people can also get help with the mortgage payments grant. But only those unemployed people can get help who are seeking jobs or giving an interview at various places. Thus if they need help to pay for their mortgage payments or want to save their house from foreclosure then they will apply for the mortgage payments grant from different organizations, churches, charities, and can also apply for a short-term loan if they can afford it.
Recommended Reading: What Does It Mean When A Bankruptcy Is Discharged
Government Programs To Help Pay Mortgage
Mortgage payment grants are helpful for those individuals and families who are low-income and did not pay for their mortgage payments. These payment grants are not any loan, but they are free or a gift for those people who are at the risk of losing their homes. The great thing about this grant is that those people who get it, they did not need to pay back it.
Generally, these grants are given to those people and families who are first-time home buyers. Those first-time buyers will get help with their mortgage down payments as well as for the closing costs. Even if you did not buy any property in the last three years, then you are also considered the first-time buyer.
If you want to know about the mortgage payment grants then you can visit the Department of Housing and Urban Development website and check for your state. For example, the HOME Investment Partnerships program is offered by the HUD. This program provides the grants to state and in the localities with the collaboration of non-profit organizations.
Government programs such as Federal mortgage relief program, Mortgage Relief Program, Mortgage Relief and Congress Mortgage Stimulus Programs are really helpful to middle class Families.
These grants can be used for different purposes such as for community persons to rebuild, rehabilitate, or can also get homeownership assistance. These grants help low-income and moderate-income people. Thus they can get help for various purposes from these grants.
Mortgage Grants For The Disabled
There are lots o housing grant programs for disabled people that help them to buy a house. Disabled people can also buy a house with the help of the housing choice homeownership voucher program. Their disability does not stop them to become a homeowner. One just needs to look for the grants that are available for disabled people and help them to buy a home.
Those grants programs are helpful for people who are low-income and disabled. But these grants also help the families and individuals who belong to moderate-income as well. One needs to visit their local public housing office and know about the grant programs that are available for them and helpful for them to buy the home and get help to pay for the mortgage. However, those grants have eligibility requirements and some necessities. If you fulfill them then you will get help from them. You have needed to apply for the grant and get help.
Dallas Home Connection Home Buyers Club
This is a non-profit agency that provides mortgage payment assistance for its members. Dallas Home Connection works with non-profit lending institutions and homebuilders. They work to provide mortgage payment assistance to the recipients. The recipients can get up to $2,500 for their mortgage payments from this agency.
Also Check: Federal Jobs Kansas City
For More Information And To Apply On January 3rd 2022 Click Here
As I stated above, applications will be approved on a first come, first served basis, so if you think you may qualify, I urge you to visit nyhomeownerfund.org today, and be prepared to apply on January 3, 2021.
As always, If I can be of assistance to you and your family with this, or any other matter, please don’t hesitate to contact me at 516-746-5924 or .
Thank you for allowing me the privilege of being your Senator.
Read Also: Will Filing Bankruptcy Stop Irs Debt
Loans Refinanced Under New Enhanced Relief Refinance Program To Be Retained In Crt Pools
Publishes HARP Historical Dataset to Increase Transparency for Investors
MCLEAN, VAFreddie Mac today announced that loans referenced in credit risk transfer pools that are subsequently refinanced under the new Enhanced Relief Refinance program will be retained in the original structures to preserve credit loss protection, beginning with Structured Agency Credit Risk and Agency Credit Insurance Structure transactions that reference loans originated on or after October 1, 2017. The ERR program pdf is a new refinance offering that will replace the Home Affordable Refinance Program upon its termination in December 2018 HARP loans are currently excluded from CRT reference pools.
To help investors analyze and model for ERR in CRT reference pools, Freddie Mac has published historical HARP loan level data disclosures as a proxy. The HARP dataset will augment the existing Freddie Mac Single-Family Loan Level Dataset, which provides loan-level performance data on approximately 23.5 million fixed-rate, single-family mortgages originated between January 1, 1999, and June 30, 2016.
The HARP dataset can be accessed at .
Alberta Down Payment Assistance
Attainable Homes : This program is for Calgary residents only. Applicants contribute $2,000 towards the down payment of their home while the program covers the remainder.First Place Program: This program allows residents of Edmonton to defer land costs on select properties for up to five years. Applicants must have a combined income of $117,000 or less.
Also Check: Northern District Of Texas Bankruptcy
Aging And Disability Resource Center
Most of the time, disabled or elderly people feel a burden on them or they lost to look for ways that can help them to pay for their mortgage payments. When they are not able to pay for their mortgage payments they feel overburdened and did not understand which source will be helpful for them. Thus to give free advice to those individuals, many states have aging and disability resource centers. These centers provide the guidance and resources that can help them. Such as home repairs, disability and old age modifications, utility bills assistance, and mortgage assistance programs. They will tell you how you can get help for these and from these and lessen your burden. With the help of them, you can reduce the risk of foreclosure and also get help to use the sources that help you to pay for the mortgage payments. Thus you can visit your states aging and disability resource center and get help in the various ways to get rid of your burden.
Where Mortgage Grants Are Available
The mortgage grants are given by various organizations, churches, charities, companies, as well as private agencies. All these sources may work on federal, state, county, or local levels. But they all have one motto to help people who need financial help to pay for mortgage payments and dont want to lose it. However, one can look for them at online websites, reach their local public housing office, or can get the help of their lenders as well.
Don’t Miss: How Long Is Chapter 13 Bankruptcy
How Disabled People Can Get Mortgage Payment Grants
Different sources help with financial assistance to the people who need to pay for their mortgage payments. If there is any disabled person who needs help with mortgage payments, then he can look for mortgage payment grants in their local area. OR can look for the sources that offer mortgage payment grants for disabled people. Even they can get help with other necessary things as well like food, clothes, furniture, utility bills and lots more.