Help In Difficult Times...

Discussion in Mortgage & House Payments started by MrsJones • Mar 4, 2015.

  1. MrsJones

    MrsJonesActive Member

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    Being unemployed brings with it difficult times financially. The anxiety heightens with each coming day in trying to find resources for assistance through family, church, and chances of winning the lottery. There are resources to tap into if you set aside that imp called pride and not worry about losing face/dignity when doing so.

    I am one of those in this dilemma. Reaching out to all my creditors to see how they would be able to assist me with auto payments, insurance payments, and even health care. The most important though is my home. I just happen to research this program HARP's website and I saw a link 'If unemployed...' so I clicked on it. Whoa another assistance program loaded on screen called UP (Home Affordable Unemployment Program).

    It is available for persons who are eligible to receive unemployment and you apply through your mortgage servicer or one that is on their list and depending on the situation may be able to reduce mortgage payments to 31 percent on total income or suspend mortgage payments up to 12 months.

    I thought I would share this with the forum. It may be a resource to pass along to someone. Just remember ... have your questions ready and always read the fine print. I'm sure going too.
     
  2. kjonesm1

    kjonesm1Active Member

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    I'm sorry you are going through finincial struggles and hope things start looking up for you very soon. You might want to also check and see if you qualify for government aid. When I first moved to New Mexico I didn't have a job and was surprised that I qualified for ebt and wic. I didn't use it very long, but it really helped my situation a lot.
     
  3. worldmachine

    worldmachineActive Member

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    That sounds like a good scheme, we don't have anything like that in the UK. Many years ago i got in to difficulties with my mortgage payments and called the lender for help. The bank in question used to shout from the rooftops that should you get in to difficulties with your payments they were there to help and would take a sympathetic approach to your problems.

    When i called them for assistance, the reality was quite different, i spoke to an advisor explaining that i was going to have difficulty meeting my mortgage payment that month, i was met with an aggressive response of ''It must be paid'' so much for their caring, sympathetic approach that they regularly preached. I was made to feel like some kind of criminal and left totally humiliated by the experience.

    It's good to see that there are some resources to help you at such a worrying time. I hope things have improved here in that respect, i wouldn't want anyone to face the same experience as i did at a time of hardship.
     
  4. pwarbi

    pwarbiActive Member

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    As far as mortgage providers go, I have never been in the situation myself but a few friends have and while your paying every month, on time with no issues then they can be your best friends, always happy to help and reassuring you that if ever you do find yourself in difficulty they will do all they can to help.

    Sadly, in reality if that day comes when you do need help, they have no sympathy at all and very rarely help the situation, just make it worse by pressuring you to pay or else...

    I know people that have paid as much as they can, not the full amount and for the rest of the month had to live off hand outs because the mortgage provider had already applied for an eviction order from the courts, even though the individual had contacted them telling them it was only temporary, while they switched jobs!
     
  5. Rosyrain

    RosyrainActive Member

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    That is good to hear that there is help for you and anyone else out there who is having a hard time financially. There is nothing worse than having to worry about where you are going to sleep tomorrow night. I wish this would have been around a few years ago, or I wish I would have known about it, when my fiance lost his job. We ended up foreclosing because the banks we had our mortgages with could not get it together. We had a couple of buyers for our house, but the banks were in arguments among themselves over $4000. It was the most stupid thing I had ever heard of.
     
  6. MrsJones

    MrsJonesActive Member

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    I applied for the program and got approved for 6 month period which would cover my period of unemployment benefits, but remember I mentioned the fine print.

    I was told this over the phone. Even though there is relief the reduced amount accumulates and is due at the end of the program, but I would be eligible for a home modification loan if I'm still unemployed.

    I'm just thankful that I was approved for some relief. I'm just dealing with whatever punch is thrown right now.
     
  7. pwarbi

    pwarbiActive Member

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    I do believe there is help out there for people that are genuinely struggling, unfortunately I think there's a !of of people that take advantage of scheme's like this so that obviously make it harder for genuine cases to be looked at.

    Here in the UK especially, its a lot easier to live off benefits than it is to look for a job, in fact some people see as applying for different schemes and benefits as actually as having a job...
     
  8. Rosyrain

    RosyrainActive Member

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    Ms.Jones, glad to hear that you were able to get some relief for your situation. Unemployment is scary enough, not to mention the prospect of losing your house on top of it all. I imagine that loan programs are much more organized now then when I lost my home a few months ago. The banks seemed I'll equipped to handle the amount of people who were struggling back then.
     
  9. MrsJones

    MrsJonesActive Member

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    I'm sorry to hear that you lost your home. I agree that the banks are not as well equipped to assist home owners from losing their homes. I think that if the banks knew that the economy would have had this much of an effect in the housing industry they would have done more to keep those mortgage payments coming in rather than watch houses become targets for vandalism and decrease in value.

    A lot of programs that are available are not publicized either which makes it more difficult to find assistance. Sure if you research online you may come across a program like I did but it would be a lot easier if the banks and mortgage servicer had it on hand when you call for assistance at least a pamphlet to give you.
     
  10. Diane Lane

    Diane LaneWell-Known Member

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    I'm glad you were able to find this, and I'm disappointed about the small print part, because obviously if you're struggling, it's going to take time to get back on your feet, even if you got a good paying job tomorrow. I've found that many programs that are supposed to help often have unreasonable conditions, and prove to not be very helpful in the end, but I hope that's not the case in your situation.

    @Rosyrain@Rosyrain I'm sorry to hear about your situation. I hope things are better for y'all by now.

    I'm tired of hearing how good the economy is, when so many are struggling just to make ends meet, trying to afford food and housing.
     
  11. MrsJones

    MrsJonesActive Member

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    Thank you @Diane Lane@Diane Lane. Here is an update on my situation. After making a call to my Home Preservationist to answer some more questions I also found out that when this unemployment assistance program ends that I, alone, will not be eligible for the loan modification program as mentioned earlier.

    The homeowner must be employed is one of the requirements. My husband's income would suffice if I have not become employed by the end of the program. That sucks. So that has thrown me into survival mode... again, oh wait a minute I've always been in survival mode:eek:.
     
  12. Rosyrain

    RosyrainActive Member

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    Ms. Jones- That really does suck about the loan modification program. Have you tried getting in touch with your local HUD? The government rules can be so unfair to people who are struggling to get by in life. When we went through our foreclosure, we had doors slammed in our faces every step of the way. We worked with a real estate agent who specialized in short sales, in hopes that we could get the house sold before the foreclosure process was complete. Our real estate agent was baffled at how stupid the banks were being. The banks seemed to change the rules every step of the way. It was like nobody knew what they were doing.
     
  13. MrsJones

    MrsJonesActive Member

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    @Rosyrain@Rosyrain ... No, with HUD. I have dealt enough with trying to get refinanced. Inquiries to my credit has brought my score down so much it's pathetic.

    I am not surprised with the lack of how the banks are handling real estate issues. Not only are the rules changing but one hand doesn't know what the other hand is doing and not everyone knows everything like they should.