Mortgage Payment Assistance

When you endure a divorce, it can be incredibly hard to get back on your feet. There is often significant psychological and emotional pain – not to mention financial pressures. Ending a marriage can be expensive, and learning how to adjust your finances is challenging. If you are facing hardships and your home is at risk, the Mortgage Payment Assistance program can offer the help you need, when you need it.

What Is Mortgage Assistance?

As you navigate the difficult terrain of divorce, you may require help.  If you can’t financially shape your future, then you’re financially bound to your past. Nobody expects these kinds of hardships to be dealt with alone. Mortgage Payment Assistance can alleviate a great deal of the strain and worry.  Divorce Helper will guide you through the process.

How does it work?

Mortgage Payment Assistance is a program designed to help people facing hardships, such as unemployment, reduced hours, disability, death, or finalized divorce. The fund was established by the US  Department of the Treasury to aid residents in states most affected by the devastating housing crash. This program enables homeowners to bridge the gap of hardship rather than fall into it permanently.

  • Divorce as a hardship can trigger Mortgage Payment Assistance up to $42,000.
  • If you keep the property for five years, you do not have to pay the assistance back.
  • If you are underwater, or facing severe debt, you may qualify for Principal Payment Reduction. In this case, you could be eligible for assistance up to $50,000. This reduces the principal balance of your first mortgage.

What do you need to know about the Mortgage Payment Assistance?

  • It is only available to Florida residents. You must be a Florida resident and a legal US citizen or legal alien.
  • The property for which you are seeking assistance must be your primary residence.
  • You must qualify under the hardship guidelines (e.g. divorce) with at least a 10 percent reduction in your income.
  • You must meet income requirements (e.g. income must be below 140 percent of the area median income, adjusted for household size).
  • Your mortgage provider must be a regulated financial institution, USDA, or Habitat.
  • Your mortgage’s outstanding principal balance must be $400,000 or less.

Not sure if you qualify? We can help you find out. Please fill out this form. The information you provide will enable us guide you toward the assistance you’re eligible to receive.

Divorce is one of the most difficult life events one can face. It is draining emotionally, and quite often, financially. When you are facing this situation, the possibility of also losing your home is frightening. There is help, and there is hope. With the Mortgage Payment Assistance program, you can begin to rebuild your financial future. Divorce Helper is here to provide guidance and support so you can get back on your feet.

 

Contact Us

Our Housing and Credit Counseling staff is ready and waiting to help you with your financial issues during this difficult transition in your life. Please complete the form below, and someone will reach out to you within 24 hours.