This past August, HUD introduced a revamped version of last year's Home Affordable Unemployment Program. In that original program, unemployed homeowners could get a three-month forbearance on their mortgage payments while they looked for a job.
Unfortunately, the program was not a resounding success. In fact, the number of people who qualified for this aid was shockingly low. Only 10,000 of the 13,000,000 (million) unemployed in the United States qualified for the aid, which was also only a three month forbearance...not much when you consider that nearly half of those who are unemployed have been unemployed for at least 6 months.
For the rest of this article, information on criteria and how to see if you qualify, visit my Lancaster County PA Real Estate blog.