Speak to a Maryland Mortgage Specialist. Call (410) 499-5446
Maryland Mortgage Assistance and Mortgage Modification Learning Center.
2. Connect with a loan officer
3. See the financing options that are available for your mortgage needs!
1. Complete the online quote form
The quote request process is simple!
If you have been having a difficult time making your mortgage payment you are not alone. In 2010 the Associated Press reported that 1 in every 10 households are in danger of being foreclosed. In addition, nearly 9.9% of homeowners have missed at least one mortgage payment. These numbers are staggering and as foreclosures increase the values of home’s decrease and more homeowners are at risk of being ‘underwater’ on their home. Owing more than what the home is worth. Federal and Local government’s have realized the need to assist these borrowers. Therefor, several programs have been created. In addition, many lenders have created their own modification programs to help assist distressed homeowners.
If you are a homeowner in need of assistance there is help available through government programs.
In Maryland, the H.O.P.E program was created by The Maryland Department of Housing and Community Development (DHCD). This program is designed to ”assist homeowners who are facing foreclosure due to involuntary unemployment or loss of significant income”. There is an application process that you can learn more about at the E.M.A site. the State has also created and recommended counseling and mediation for those in Foreclosure.
The Federal Government has assisted states in creating these programs but they have also provided direct information and assistance to homeowners. Visit H.U.D’s site for more information.
Several large, private lenders have created programs to assist their current borrowers. These are called loan modification programs. The FDIC has listed some of the legislation that has been created to help promote loan modification by the Banks. In addition, the Treasury Department has created a links to assist with those hardest hit.
The level assistance you will get with your lender really depends on their current programs. It is best to visit your current mortgage holder’s web site or call them to find out what options they are offering for loan modification and assistance. If you are lost as to what to do in your situation, the Government has a place for you to start your search. See what Federal assistance programs are available by answering the questions the Departments of the Treasury & Housing and Urban Development have put together.