Mortgage help from the government

Because of the real estate crisis the Government has enabled programs since February 2009 to help homeowners who have had trouble paying their mortgage. The Government has also extended this program till 2012.

The Home affordable modification programs are a group of government programs created to help home owners to pay their mortgages. Millions have already taken advantage of this program to help with their mortgage and the government estimates that 3 or 4 million will be in the program by 2012.

Before entering the program borrowers must enter a Trial Period plan. During this time all the needed documents must be sent to the mortgage servicer to verify your eligibility.

or more information on Home affordable modification programs go to the Government’s website http://makinghomeaffordable.gov/borrower-faqs.html#18

Here are 5 basic questions that will help you determine if you are qualified

1. Is your home your primary resistance?
2. Is the amount you owe on your first mortgage less than or equal to 729,750?
3. Are you having any difficulty paying your mortgage?
4. When did you get your current mortgage was it before January 1, 2009?
5. Is your current mortgage payment more than 31% of your gross income?

The government also has other helpful mortgage programs such as...

• 2nd Lien Modification Program (2MP)
• Home Affordable Refinance Program
• Home Affordable Foreclosure Alternatives Program