HAMP Eligibility Guidelines (Part A)
If you are one the many Florida homeowners having trouble making your mortgage payments, you should consult with a South Florida attorney with experience in foreclosure law to discuss the Home Affordable Modification Program (HAMP). The goal of this program is to provide homeowners a possible alternative to foreclosure.
Eligibility Requirements to Apply for HAMP
You must meet certain criteria before you can apply for a HAMP loan modification.
Requirements include:
- you must be the homeowner as well as the occupant of a 1- to 4-unit home;
The advantages of Short Sales for those in desperate financial situations
The advantages of Short Sales for those in desperate financial situations
Each year an increasing amount of homeowners are facing financial problems due to an unstable economic climate and sometimes new mortgages payments are just too high for homeowners to pay, so they’re looking for new alternatives to try and avoid the prospect of foreclosure. The reason people find themselves in this situation is often because they are lured in with a loan that has attractive low payments, however, these low payments eventually will come to an end, leaving homeowners in a sticky financial situation.