FHA Gives Unemployed Homeowners A One Year Relief
Obama Administration Offers Assistance to Unemployed Homeowners
On Thursday July 7th, 2011 according to www.hud.gov starting August 1, 2011 the Federal Housing Administration will extend the period for unemployed homeowners to miss mortgage payments to a full year. The administration also request that HAMP (Home Affordable Unemployment Program) servicers also extend the forbearance period to 12 month. . This program will let qualified unemployed Brooklyn homeowners go without making monthly mortgage payments for 12 months before servicers can begin the foreclosure process.
Brooklyn homeowners this is another opportunity to help you stay in your home if possible. If you are unemployed and behind on your mortgage speak to your lender/mortgage servicer regarding this option.
Source: www.hud.gov press release dated July 7th 2011
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