Mortgage Help Available!

I just got an email about a grant program to help those who are facing foreclosure!


Dear Friends,

Mortgage foreclosure relief is on the way!!!!!

I’m pleased to tell you that we’ve crossed the last hurdle and homeowners who have lost their jobs and face foreclosure will soon be able to apply for emergency mortgage assistance for help with their mortgage payments.

When the Senate passed one of the Consumer Protection Acts, it included a provision that provides $1 billion in emergency mortgage relief.

Millions of American homeowners, through no fault of their own, have lost their jobs in the current economic downturn and have faced the loss of their piece of the American dream. This program will keep families in their homes when the breadwinner has recently lost his or her job providing emergency relief from foreclosure for those with a proven history of working and paying their mortgage.

The U.S. Department of Housing and Urban Development is expected to have this program up and running within the next 90 days.

The new driving force in foreclosures is unemployment, not subprime mortgages. This mortgage relief program gives long-overdue recognition to that fact.



To find more information about other kinds of grant programs (including those that involve "free money", you can visit both my

Grant Basics 101 Blog

and

The Unclaimed Money Blog.

Obama administration rejects nationwide foreclosure moratorium

I have to say that I am highly disappointed with the President's decision! So many people are losing their homes to foreclosure and I ask how in the world is that going to make our country better?????

As someone that researches government grants for a living, I have blogged about many government grant programs for those that are looking to buy their own home.

However one of the problems with some of these grant programs is that real estate investors apply for these same grant programs leaving legitimate homebuyers out in the dust!

I surely do hope that the President will change his mind on this!

You can read the article about this by clicking here.

Bank Of America Stopping Foreclosures In 50 States!

Here is an excerpt from the online article:

"A mushrooming crisis over potential flaws in foreclosure documents is threatening to throw the real estate industry into chaos, as Bank of America on Friday became the first bank to stop taking back tens of thousands of foreclosed homes in all 50 states."

You can read the rest of the article by clicking here.

Another Family Manages To Save Their Home!

Here is yet another story of a family who managed to save their home from foreclosure!

It seems that if you are subject to homeowner association fees, if you don't pay them then they can foreclose on your property. In this instance the family owned their home free and clear but the homeowner's association could foreclose on their property even though they owed less than $1000 on their homeowner's association fees! What makes this story even more sad is that the home, worth $300,000, was sold to a bidder for $3,500!

According to the article, "In Texas and about 30 other states, HOAs have the power to foreclose on your home if you fail to pay your home association dues, even if you own it free and clear". This has angered a lot of people and this particular story has brought it more into the light!

And then another fact included the fact that the husband was in the military. There is a federal law that protects those on active duty from certain legal and financial obligations, including foreclosure, without going to court. (To find out more about government grant programs and other financial aid programs for veterans please see my Grant Basics 101 Blog)

But this story has a happy ending! The family was able to come to a settlement agreement with the homeowner's association.

You can read the article for yourself by clicking here.

Another source of money is unclaimed money. You can find out more about unclaimed money by visiting my blog, The Unclaimed Money Blog

Investing In Real Estate?

I know that there are a lot of people that say that you can make a lot of money by investing in real estate but it's something that really isn't my cup of tea!

The first thing that I think about is the number of people who have lost their homes to foreclosure. While their homes have been sold to someone else that still doesn't take care of the fact that because of foreclosure these people are now homeless.

I do know that the point of real estate investing is to sell a home for more money than one paid for it. And I will admit that real estate investors do fix up properties so that they can be sold. And when a house sells it is no longer empty and it contributes to the overall well-being of the community.

But this is basically a blog about foreclosures, tips for helping avoid foreclosure and inspiring stories about people who have managed to get their homes out of foreclosure.