But do not wait too long! MSHDA has started their campaign for the "Save the Dream" product. This is a loan designed to help people who fit the guide lines (income) to re-fi their home. If home owners have a loan ready to balloon out or already has or you just have a high interest rate and struggling to make payments, this loan may be for you.
I was talking to Stacey Hovanec, a processor for Providence Home Mortgage (I.C.C.F) about this product yesterday. She informed me they are getting lots of calls but many have waited to late to call. You can not be late or missed more then 3 mortgage payments.
I had a client call me yesterday about a foreclosure in her neighborhood. An elderly couple had lived in this home for over 25 years! They have now moved out and the home went back to the bank. I looked up the home on the MLS and can not see where it was ever listed. (Maybe they tried FSBO, but no one ever saw signs in yard. I think some people are afraid to ask for help or are embarrassed. But don't be!!!!
By saving your home from going to foreclosure you help more then yourself, you help the neighborhood at large, less foreclosures in the area, the better for resale value down the road. This is another step you can take to help home sales in the future and another step to changing the market. You have the power and the resources, use them!
Save your dream, save your credit, save your home.........ask a realtor to help!
Stacey is going to come on today and comment and give more details, Stacey is located in Grand Rapids, Michigan but can help anyone in the State of Michigan. Do not be shy to ask questions here or call I.C.C.F. and get more details.