30 Jun Limited Emergency Efforts to Save Homes Continue
According to an article entitled The Soon-to-Evaporate Help for At-Risk Homeowners in 32 States in the Bucks blog of The New York Times, there still could be emergency financial aid from the federal government available for some homeowners through a program known as the Emergency Homeowners’ Loan Program. To find out whether you might qualify check it out very quickly, as preliminary applications must be submitted by July 22, 2011. CALL SOON!
The program is available in Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. The article also notes that the program is offered in Puerto Rico, and that Connecticut, Delaware, Idaho, Maryland, and Pennsylvania have similar programs.
I wish I felt more optimistic about the feasibility for most of saving their homes when things are dire.
I still get reports of months to get a response and of hours spent on hold, in trying to work directly with a creditor. For more on this, see South Carolina attorney Russell DeMott’s article — I love the title!–Why Are Some Creditors So Stupid? â€œThe Grand Illusionâ€.
We also hear how limited the success is of the federal programs that have been implemented. For more on this, see HAMP Mortgage Modifications and Bankruptcy, by L. Jed Berliner, Springfield & Marlborough, MA Bankruptcy Attorney.
We see huge increases in foreclosure filings in the state courts causing the courts to try new programs, such as in my local district court, mandatory mediation in foreclosure cases. For more on this, see this article on the increase in foreclosure defense self-help.
So, please have your eyes wide open when you are considering all your options. Determining what to do about your home is not for the weak and faint-hearted. You may have even more options then you think, by the way — for more, see:
Bankruptcy Law Network (BLN)
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