unemployed homeowners - Articles

Freddie Mac Extends Mortgage Break for Unemployed

Mortgage finance firm Freddie Mac just announced that it will give unemployed borrowers a break on their mortgage for up to one year. "These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and... Continue Reading »

Unemployed Mortgage Assistance Program Extended

The Department of Housing and Urban Development will begin taking applications again for a new program providing interest-free loans to unemployed borrowers struggling with their mortgage payments. Under the Dodd-Frank Act authority, HUD launched the $1 billion Emergency Homeowners Loan Program in June. Unemployed... Continue Reading »

HUD: Help on the Way for Unemployed Homeowners

The Department of Housing and Urban Development launched a long-awaited program to provide interest-free loans to help unemployed borrowers in 27 states with their mortgage payments. "Through the Emergency Homeowners' Loan Program the Obama Administration is continuing our strong commitment to help keep families in their... Continue Reading »

Unemployed Homeowners: EHLP Is on the Way

Being unemployed took its toll quickly on Sharon Greene, a single mother of three and Philadelphia homeowner. Greene was already struggling to stay current on her mortgage when the news hit. The security company that employed her for the past 8 years had just laid her off, and the bills were piling up. Then the notice... Continue Reading »

Government Projects Fewer Defaults on HAMP Mortgage Modifications

While some seem to think that all the Obama administration is doing is extending or delaying foreclosure procedures, others believe that, without these extensions, home prices would have fallen much further, much faster. Whatever you believe, the numbers seem to indicate that mortgage default and re-default rates are... Continue Reading »

Michigan Foreclosure Aid Program Overwhelmed by Calls

Last week, with the help of a special $1.5 billion Obama administration fund for the states most devastated by property price declines and foreclosures, the state of Michigan launched its own program for unemployed borrowers who are having trouble paying their mortgages. Unlike the federal Home Affordable Mortgage... Continue Reading »

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