Hardest Hit Fund Targets the Unemployed & Underemployed

Are you an unemployed Florida homeowner or underemployed?  You may be eligible for mortgage relief through Florida’s Hardest Hit Fund. The Florida Hardest Hit Fund offers federal aid to pay the mortgage for a few months while an unemployed homeowner seeks employment.  This funding is locally administered through St. Johns Housing Partnership (SJHP).  To find out more about this fund and eligibility, you can visit https://www.flhardesthithelp.org/. Read More

Low Cost Legal Resources

The Sixth Amendment gives you a Constitutional right to an attorney in a criminal defense.  But what if you are poor, elderly, disabled, and your landlord has locked you out?  Or you are facing home foreclosure and do not know what to do?  There are good legal resources in St. Johns County which may be able to help you in a civil matter at little or no cost to you.  These include the following resources: St. Johns Housing Partnership (SJHP) SJHP is non-profit agency whose services are offered to the public regardless of income.  They work with borrowers living in million dollar homes as well as those eligible for Legal Aid.  Their HUD certified counselors are sensitive to what their clients are going through, and they are knowledgeable and experienced negotiating with lenders on a loan modification that works for everybody.  SJHP does a background check on their clients without waiting for the bank to do one.  They get good results because they do the homework ahead of time.  There is no way to predict how long a mortgage modification will take, but you have a better chance to a permanent solution with SJHP. To learn more about St. Johns […] Read More

Derby-Pie & Mortgage Modification

Derby-Pie got its name by putting different names into a hat, and then drawing one, similar to the way a bank seems to determine Net Present Value.  Net Present Value is an analysis the bank uses to determine if it is better for the bank to foreclose on a property or to modify the loan. The bank puts in the present value of the property, the mortgage debt, and the risk of the borrower’s re-default, but it is a secret recipe, like Derby-Pie.  It is not clear what the bank does with those numbers.  The ambiguity is what gives mortgage modifications their mythic proportions. To win the Kentucky Derby, it takes a lot of work and you may not make it to the finish line.  Similarly, getting a mortgage modification is no cakewalk.  However, our local St. Johns Housing Partnership (SJHP) has had some success stories. SJHP is non-profit agency whose services are offered to the public regardless of income.  They are sensitive to what their clients are going through, and they are knowledgeable and experienced negotiating with lenders on a loan modification that works for everybody.  SJHP does a background check on their clients without waiting for the bank […] Read More

Foreclosure Rescue Scams

Aside from bodily harm to you and your family, what is a fate worse than home foreclosure?  Answer:  Foreclosure Rescue Scam.  In one minute of your time, the Federal Trade Commission can give you the basics of how to avoid such a catastrophe in a free online audio at http://www.consumer.ftc.gov/media/audio-0037-foreclosure-rescue-scams. If you are facing foreclosure, there are choices.  In St. Johns County, St. Johns Housing Partnership (SJHP) has a variety of housing programs available and offers free counseling with HUD certified counselors. SJHP is non-profit agency whose services are offered to the public regardless of income.  They work with borrowers living in million dollar homes as well as those eligible for Legal Aid.  Their HUD certified counselors are sensitive to what their clients are going through, and they are knowledgeable and experienced negotiating with lenders.  To learn more about St. Johns Housing Partnership, contact them at (904) 819-1266 (www.sjhp.org ).   Read More

Good Partnership for Mortgage Modification – St. Johns Housing Partnership

A mortgage modification may be rarer than Bigfoot frosted in unicorn dust.  While there is no EASY way to get a mortgage modification, the less difficult way is to go through St. Johns Housing Partnership (SJHP). SJHP is non-profit agency whose services are offered to the public regardless of income.  They are sensitive to what their clients are going through, and they are knowledgeable and experienced negotiating with lenders on a loan modification that works for everybody.  SJHP does a background check on their clients without waiting for the bank to do one.  They get good results because they do the homework ahead of time.  There is no way to predict how long a mortgage modification will take, but you have a better chance to a permanent solution with SJHP. To learn more about St. Johns Housing Partnership, contact them at (904) 824-0902 (www.sjhp.org ). Mortgage modification is a very good idea in concept.  St. Johns Housing Partnership may be able to make it a reality, giving relief to local homeowners by negotiating monthly payments they can afford. http://staugustine.com/news/business/2014-02-02/st-johns-county-housing-partnership-provides-alternatives-foreclosure#.UvErbvldV2A     Read More

Good, Free Resources Regarding Foreclosure

Eddie Van Halen played the guitar on Michael Jackson’s “Beat It,” and he did it for free.  Sometimes you get what you pay for…and sometimes you get a whole lot more.  If you need solutions to home foreclosure more than a guitar solo, then good, free, local resources include the following: St. Johns Housing Partnership (SJHP) SJHP is non-profit agency whose services are offered to the public regardless of income.  They work with borrowers living in million dollar homes as well as those eligible for Legal Aid.  Their HUD certified counselors are sensitive to what their clients are going through, and they are knowledgeable and experienced negotiating with lenders on a loan modification that works for everybody.  SJHP does a background check on their clients without waiting for the bank to do one.  They get good results because they do the homework ahead of time.  There is no way to predict how long a mortgage modification will take, but you have a better chance to a permanent solution with SJHP. To learn more about St. Johns Housing Partnership, contact them at (904) 819-1266 (www.sjhp.org ). Mortgage modification is a very good idea in concept.  SJHP may be able to make […] Read More

Foreclosure Defense & Time on Your Side

If you did not get tickets to Mumford & Sons, too late.  They sold out in February.  But if you have not been able to make your mortgage payment in a while, you may still have an option to stay in your home with a mortgage modification. It is not easy.  There are a lot of phone calls and forms.  Furthermore, time is not on your side. Mumford & Sons does not have a lending department singing, “I will wait for you.”  No matter what the lending negotiator is saying, the bank’s legal department is proceeding with the foreclosure lawsuit.  It is a race to see who gets to the finish line first:  the lenders or their lawyers. Depending on how many payments you have missed and where you are in the process, you may be able to file a legal defense.  Note that if you have been served a foreclosure lawsuit, you only have 20 calendar days to make a response. A Foreclosure Defense is not a denial of debt, and you are less likely to get a free house than you are to score backstage access to Mr. Mumford.  Instead, it asks the bank to prove its case, […] Read More

Loan Modification – Nice Work If You Can Get It

Broadway show, Nice Work If You Can Get It starring Matthew Broderick, was a musical modification of the Gershwin songbook, bringing together many of Gershwin hits like the title song, “Fascinating Rhythm,” and “Let’s Call the Whole Thing Off.”  Despite the Tony Awards and numerous nominations, Nice Work did not make it past three months.  A lot of home loan modifications have the same performance run. A mortgage modification is supposed to give the homeowner a way to fulfill his responsibility to pay his loan and give the bank continuity of income, even if at a lesser amount—the idea that less is more than nothing.  The aim is to lower monthly mortgage payments in order to make them more affordable and sustainable in the long run. It is a lot of work to get a mortgage modification, but it is nice work if you can get a temporary modification converted to a permanent modification—you get to keep your house and make manageable payments.  However, most homeowners have a greater chance of catching a Broadway musical on Mars. In many cases, banks do modifications because the government tells them to, but then they often deny the permanent modification. That being said, […] Read More

Hardest Hit by Economic Storm

Are you a Florida Resident and a Legal US Resident or Legal Alien?  Do you occupy your property as a primary residence?  Are you unemployed or underemployed with at least a 10 percent reduction in income?  If you can say ‘Yes’ to all three of these questions, you may be eligible for financial assistance from Florida’s Hardest Hit Fund. Hurricane season has not started yet, but Florida homeowners are already affected by the nation’s highest foreclosure rate for the sixth month in a row in February according to RealtyTrac, with one in every 282 housing units receiving foreclosure papers that month. There are many different ways people arrive in foreclosure like medical hardship, divorce, or a fixed income combined with increased expenses.  However, if unemployment or underemployment is your circumstance, you may want to check out the benefits and eligibility for Florida’s Hardest Hit Fund, online at www.flhardesthithelp.org. Established in 2010, these federal funds are designated to help prevent foreclosure for those who are unemployed or underemployed.  The fund offers aid for mortgage payments. Note that eligibility requirements have changed; however, the website advises homeowners not to attempt to re-apply or to start a new online application. St. Johns Housing […] Read More