There are several government programs that may be worth looking into. Below are links to get you the qualifications.

Home affordable refinance program (HARP). This is a refinance program that not enough people know about. It allows some homeowners to refinance even if they owe more than the house is worth. The homeowner must be current on the mortgage and have no late payments for the last 12 months.

Home Affordable Modification Program (HAMP). This is a loan modification program. The homeowner must have adequate income to quality and there are specific debt ratio requirements.

Home Affordable Foreclosure Alternatives Program (HAFA). This is a short sale program. If one qualifies, the program includes a full waiver of any deficiency owed to the first mortgage and may receive up to $3000 of walking-money at the closing.

Homeowners' Assistance Program - Department of Defense (HAP). This program is for military personal and has recently been expanded to offer benefits in for losses of value due to the mortgage crisis.

The FHA pre-foreclosure is a program that works quite well. One is pre-approved for the short sale through Housing and Urban Development.


For a Free, Confidential Analysis, Contact us

The US Treasury Department tracks the sucess rates for the Making Homes Affordable programs. This is the Final 2011 MHA Report released in January of this year.

** Overview of Government Programs

** Snapshot of the Foreclosure Time-Line
** Step-by-Step Process
** Short Sale vs. Foreclosure Comparison
IMPORTANT NOTICE

The Federal Trade Commission issued the Mortgage Assistance Relief Services Rule 16 CFR 322 (MARS).
MARS defines "mortgage assistance relief service" to include: "negotiating, obtaining or arranging a short sale of a dwelling."


You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender(or servicer). If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us the amount agreed in our listing agreement for our services. Keller Williams and My Home Team are not associated with the government and our service is not approved by the government or your mortgage lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.