If you are looking at this page, chances are you have experienced a recent event in your life (jobloss, divorce, illness, etc) that makes paying your mortgage on time a challenge ...
We understand what you are going through and how you feel ... It is a difficult time for many Americans, but we want you to know that you are not alone and that you do not have to deal with this situation on your own, help is available and we would like to be your Resource Center so you can get the help you need.
We have compiled a list of the most relevant resources currently available and are also at your disposal in case you have questions or need assistance, and to give you an overview of the options you have. All our consultations are completely free of charge and non-binding!
RESOURCE CENTER
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U.S. Department of Urban Housing and Development:
www.HUD.gov/foreclosure
General information about foreclosure avoidance, other Government programs, contact information for HUD-approved housing counseling agencies, rental assistance, etc.
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Neighborhood Assistance Corporation of America:
www.NACA.com
Non-profit, HUD Certified Counseling Agency; "Home Save" - Program: help restructure existing mortgage in order to achieve affordable mortgage payments. Workshops, Counseling, etc.
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Support & Guidance for Homeowners:
www.HopeNow.com
An alliance between counselors, mortgage companies, investors, and other mortgage market participants, working together to try to help you stay in your home. Eligibility Self Assessment Test, Free Counseling Help, Unemployment Resources, Homeowner Pet Resources, etc.
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Making Home Affordable:
www.MakingHomeAffordable.gov
Government Program to assist you in trying to Refinance or Modify your mortgage if your loan is owned by Fannie Mae or Freddie Mac.
Eligibility Assessment:
Am I eligible for a Home Affordable Refinance?
http://www.makinghomeaffordable.gov/refinance_eligibility.html
Am I eligible for a Home Affordable Modification?
http://www.makinghomeaffordable.gov/modification_eligibility.html
Frequently Asked Questions:
http://www.makinghomeaffordable.gov/borrower-faqs.html
Payment Reduction Estimator:
http://www.makinghomeaffordable.gov/payment_reduction_estimator.html
Loan Look-up:
Fannie Mae
http://loanlookup.fanniemae.com/loanlookup/
1-800-7FANNIE (8am to 8pm EST)
Freddie Mac
https://ww3.freddiemac.com/corporate/
1-800-FREDDIE (8am to 8pm EST)
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HAFA: "Home Affordable Foreclosure Alternatives" - Short Sale and Deed-in-Lieu of Foreclosure
NEW!!!
On November 30, 2009, the Treasury published a new, Supplemental Directive 09-09, which is part of the initial HAMP (Home Affordable Modification Program), titled “Home Affordable Foreclosure Alternatives – Short Sale and Deed-in-Lieu of Foreclosure” or “HAFA”.
This Directive is comprised of 43 pages of guidelines and forms outlining foreclosure alternatives (such as Short Sale and Deed-in-Lieu) and eligibility. As this is a supplement, there is no “direct way” to participate in the HAFA program – you must have been enrolled in the HAMP program first in order to consider HAFA.
Please contact your loan servicer to see if they are a participating servicer and if you will be eligible for the new Directive.
UPDATE APRIL 5, 2010
HAFA was officially implemented April 5, 2010, however, only for mortgages not owned and guaranteed by Fannie Mae or Freddie Mac. If you would like to see the highlights of this program and eligibility criteria, please check out our blog concerning this topic (click HERE).
UPDATE JUNE 1, 2010
Fannie Mae and Freddie Mac have launched their own "Home Affordable Foreclosure Alternative" program.
Click HERE to see Fannie Mae Program Information
Click HERE to see Freddie Mac Program Information
The HAFA Program will be offered through December 31, 2012.
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We are constantly adding more and updated information to our Resource Center. Please keep checking in frequently as we will be posting additional information as it becomes available.