If you are the victim of a natural disaster do not delay in contacting your FHA mortgage company and begin discussing options with them about qualifying for the FHA Disaster Relief Programs. 

These programs were created to assist borrowers during a natural disaster whose lives and livelihoods are thrown into turmoil by a disaster.

If you can’t pay your mortgage because of the disaster, your lender may be able to help you.  If you are at risk of losing your home because of the disaster, your lender may stop or delay initiation of a foreclosure action for 90 days.  Lenders may also waive late fees for borrowers who may become delinquent on their loans as a result of the disaster.

If you do not have an FHA mortgage then you will need to contact your conventional mortgage or private mortgage company to see what option you may be eligible for relief.

If you have an FHA-Insured Mortgage than these options may be available to you.  Each FHA mortgage will be examined by a specialist to determine what options may be available to your unique situation such as but not limited to especially if the property did not have flood insurance and the monthly payments are now past due:

* During a specific period the foreclosure may be delayed

* Lender may see what options are available to put you in the position to keep the home through the loss mitigation process.

* Lender may enter into a forbearance payment plan or execute a loan modification or partial claim to help you retain your home.

* If saving your home is not feasible, lenders have some limited flexibility in pre-foreclosures short sales programs or may offer to accept a deed-in-lieu of foreclosure.  

If you have an FHA-Insured Mortgage and your loan was current before the Disaster and because of this Disaster you can’t make next month payment.  Here is what you want to do.  Contact your FHA mortgage company to discuss the situation with them.  Under the FHA Foreclosure Moratorium only applies to borrowers in default. If you are current, you should continue to make your mortgage payments whenever possible-even if it is late.  If, however, you are unable to make your payments consecutively for 90 days as a result of the disaster, your lender may waive any late fees normally charged and let you know about other options. Also, if you foresee ongoing problems in making your mortgage payments resulting in changes in your financial status, you should contact your lender immediately. 

If the options available through your FHA lender for possible relief are not effective please call a HUD-approved counseling agency toll-free at 800-569-4287 or contact HUD’s National Servicing Center. 

If none of those options are feasible to keep your home or bring your home mortgage into good standing. Don’t Lose Hope!

We can help navigate you with some other options. If you want a fast house sale and get cash for your home. We are very experienced with dealing with past due mortgages and can help you short sale your lender. For a free consultation call us at 855-503-1008 or complete the fast response form below. 


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