$50,000 free from the government!
The government is trying (again) to help homeowners if they are at risk of foreclosure. This plan is called the Emergency Homeowners’ Loan Program (EHLP) and if you have lost your job, the $1 billion program offers loans of up to $50,000 that don’t need to be repaid, if applicants meet certain requirements.
Rolled out by HUD and the nonprofit housing advocacy group NeighborWorks America, the program is making loans that are interest-free. Payments go directly to the lender for a portion of the borrower’s monthly mortgage, including missed payments or past due charges. And when the assistance period -which runs for up to two years ends, 20% of the loan is forgiven with each passing year. So, for qualified borrowers who stay in their home for at least five years after the assistance period and who don’t fall behind on their mortgage againor need a loan modification, this money doesn’t have to be paid back.
Homeowners interested in applying must first complete a Pre-Applicant Screening Worksheet (see link). To find out if you qualify and till fill out the forms visit the website at www.findehlp.org. Do long as you stay in you property the loan is free, if you default on your loan or sell your home you are reponsible for the full amount of the loan. If you plan to stay where you are the money is free and free is always a good thing!
Good luck
Diyloanmodkit.com
Categories: foreclosure, HAMP, Loan Modification Tags: diy loan modification, diyloanmodkit.com, do it yourself loan modification, Emergency Homeowners' Loan Program, Loan Modification
Tax Day Is Coming…
Tax day is coming fast. The IRS said that only 50% of Americans have filed taxes so far. So, here at Diyloanmodkit.com we came across this article which had some good pointers regarding taxes. Read on…
Michelle Williams, executive director of the United Way of the Virginias, also heads up the Mercer County VITA program, giving local taxpayers advice on filing their return and helping qualified taxpayers e-file their return. Williams said residents still have options to file and shouldn’t worry.
“One of things people have to remember is the worst thing you can do is not file your return,” Williams said. “If you think you owe money on your return, the best thing you can do is go ahead and file. The longer you wait, the more penalties and fees you can accrue and the more you might have to pay. The worst thing to do about any problem is to pretend it doesn’t exist.”
The IRS recommends anyone who cannot pay their taxes due should file their returns as promptly as possible and to pay as much as they can to lessen penalties and fees that accrue as the result of unpaid taxes.
Read more @http://bdtonline.com/local/x1075334765/2010-tax-deadline-looming
As always,
Categories: Loan Modification Tags: diy loan modification, diyloanmodkit.com, do it yourself loan modification, taxes
HSBC stops foreclosures
When issues of robo-signing came to light last year, many banks were quick to distance themselves from the backlash. Some banks did stop or halt foreclosures…..just for a moment….a couple of weeks, to symbolize that they were aware of the problem but didn’t really do much about it. Think about it does it really only take a few weeks to check all your foreclosures against improper paper work or robo -signing violations? No!
Now HSBC has halted foreclosures due to document problems and lax oversight of law firms handling proceedings. The company is reviewing foreclosures where a final judgment has not been entered and will correct and re-file documents where necessary.
In Palm Beach County, at least 75 percent of HSBC foreclosures that were sent to auction were handled by law firms under investigation by the state attorney general’s office, including the Law Offices of Marshall C. Watson, the Florida Default Law Group, and the Law Offices of David J. Stern.
As always,
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