Cape Gazette

FHA Advisory

By Bill Cullin | Jul 29, 2014

If you are in default on an FHA-insured mortgage, and the lender intends to foreclose, you should know about the Mortgage Assignment Program. You will have to provide certain information to the FHA to apply for this program.

To be considered eligible for assistance, the home must your principal residence. You must be at least three full payments behind on the mortgage, and the reason for your failure to make the mortgage payments must be due to circumstances beyond your control, such as unexpected unemployment. The FHA must be reasonably certain that you can resume making the payments at the end of 36 months and that the accrued deficiencies will be paid back before taking over the loan.

The Veteran's Administration also has a mortgage assistance program for those who have VA mortgages

To Learn More, Contact Bill Cullin Today.

Bill Cullin, REALTOR®

Websites: ;

Cell: 302-841-7147

Office: 302-227-2541

Toll Free: 1-800-462-3224, xt 117

Fax: 302-227-8165

Long & Foster Real Estate, Inc

37156 Rehoboth Avenue Ext, Suite 5

Rehoboth Beach, Delaware 19971

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