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Government Hardship Program

The mortgage loan disaster has struck hard within the United States. Even now, we are still dealing with the problems created by the 2008 economic collapse of the job and housing industry and millions are still losing their homes.

To fight the consequences of the overall economy on individuals, President Obama's current administration has gone to tremendous lengths to assist millions of struggling home owners make their mortgage payments and hold on to their property. Any time homeowners are powerless to come up with their monthly mortgage payments this hurts not only the homeowner, but also the poor helpless lending institutions (stated with sarcasm!) The Making Home Affordable Program was first created to help millions, but continues to help less than originally forecast. Many of the problems come from lending institutions failing to present the program because they do not offer it as part of their lending product. A bank or lender would much rather perform a refinance and take thousands of dollars in closing fees than refer a borrower to an external specialist in government modifications.

Occupational cutbacks, illness, layoffs, short-term unemployment and the likes have certainly triggered a decrease in the quantity of homeowners in which will be in a position to make their mortgage payments. A candidate who meets all the qualifications of the program and submits an accurately completed proposal is essentially relaying a formal request by the U.S. government to their financial institution to lower the interest rate and payment of the original loan in order to make it affordable to the homeowner. 

The major problems surface when homeowners attempt to initiate and complete the  modification process on their own. Without proper guidance in completion of the required paperwork, the application is often incomplete or contains common errors. For those trying to complete the paperwork by themselves, the results are lengthy delays and, in the majority of cases ( 96%!) the modification is ultimately denied. Often by that point so much time has passed that the financial situation of the homeowner has gotten much worse and he or she may not be eligible to apply again right away. In many cases, the reason why the application was rejected can be attributed to factors that could have been avoided with the proper assistance and knowledge. 

The specialists at Financial Solutions have each homeowner's interest in mind and will prepare them with the most effective comprehensive approach to their situation and offer one-on-one guidance throughout the entire loan modification process. Our individualized approach includes a "bank ready package" that ensures that all  documentation meets current state and federal mandated guidelines. This allows our clients to save time and money, avoid the frustration of trying to communicate with a non-responsive bank or lender, and overcome the numerous barriers put in place by these institutions. 

Knowing that you have industry experts in your corner will grant you the type of satisfaction that only comes from experiencing true peace of mind. 


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