Mortgage Assistance Program Enacted By Federal Government
I receive several emails and calls daily from people with problem home mortgages. This week several people have asked me whether they qualify for help under the government's new mortgage assistance program. I read an article in the Wall Street Journal that described the two mortgage assistance programs implemented this past week. The Journal article included a chart that helped explain the program benefits and qualifications. I have reproduced the Wall Street Journal chart to assist Blog readers. WHO WOULD QUALIFY
I know nothing other about the new mortgage program other than what is in the Journal's chart. I am following the proposed Chapter 13 bankruptcy amendments which would allow people with upside-down primary residences to reduce mortgage principal to current market value with conditions. A Chapter 13 law has been passed by the house and a similar law is awaiting Senate consideration.
posted by Jonathan Alper, asset protection and bankruptcy attorney, Orlando, Florida
If you have a 1st mortgage balance of 107,000 and a 2nd mortgage balance of 32,000 and your appraisal is $115,000. If you lose your job and it proides a majority of your income, is there a government program that will assist through the stimulus package. If so, where do you check?
i am 54 yrs old, a paraplegic and i'm on dialysis. i cannot work and my social security isn't enough to cover my mortgage. i have filed for a modification twice and have been turned down twice. what steps can i take to save my home? tahank you...bill huddlestun