UNEMPLOYED HOMEOWNER MORTGAGE ASSISTANCE PROCESSOR
(ALL STATE OF GEORGIA RESIDENTS EXCLUDED)
WE CREATE YOUR PACKAGE And SUBMIT IT FOR UNDERWRITING. "WE DON'T GUARANTEE APPROVAL". WE SUBMIT YOUR PACKAGE PER THE GOVERNMENT'S REQUIREMENT. WE PROVIDE COMPLETE PARTICIPATION UNTIL YOU RECEIVED A DECISION. OUR FEE IS $750.00
Treasury Launches New House loan Aid for Jobless in July
Starting up July one, homeowners could apply for assistance in the House Affordable Unemployment Plan (HAUP)HAUP gives homeowners a forbearance of monthly mortgage repayments, either minimizing these people or suspending them for at the least three months. Servicers may extend the time-line depending on regulatory suggestions.In June, the unemployment rate edged down to 9.5% from 9.7% in May possibly, according the Department of Labor.House owners who qualify for the program possess a first-lien house loan originated on or before Jan. 1, ’09. The unpaid principal balance on a single-unit primary residence is required to be equal to or under $729,750, as well as the mortgage loan has to be in default or in imminent go into default.Those who have already gone via the House Affordable Modification Plan (HAMP) method aren’t suitable for the HAUP. HAMP demands borrowers being employed with some income for the modification to be reduced down to 31% from the monthly income.But once the borrower finds another work or the borrower is 30 days in the finish of the HAUP forbearance period, the borrower could be revaluated for a HAMP modification.HUAP joins the Residence Affordable Foreclosure Alternatives (HAFA) plan, which gives incentives to servicers for providing short sales and deeds-in-lieu of foreclosure, as another net to catch borrowers who tumble out or fail the HAMP system.