Unexpected events can happen at any time and may have a large impact if you’re a homeowner. Mortgage relief offers assistance to homeowners in need of aid on their mortgage which can ease some financial burdens.
What is the American homeowner relief program?
The American homeowner relief program was created to protect homeowners from perils such as loss of utilities, foreclosure and other risks that can put homeowners' place of dwelling in jeopardy. These perils may come about due to economic reasons, loss of employment, medical debt and more.
Relief options may include but are not limited to:
- Waiving late fee penalties.
- Adjustments to mortgage payments to offer homeowners the chance to make lower monthly payments in the event of financial hardship.
- Forbearance, which suspends your monthly mortgage payment for a set amount of time.
How do you qualify for a mortgage stimulus?
To qualify, the home you apply for must be your primary residence. State requirements may differ, however most states require proof of income at or below the median income level.
The balance of the mortgage must be below $548,250 and the amount received in your stimulus package will vary per state.
Once you’ve qualified for a mortgage stimulus, funds may be used for:
- Monthly mortgage payments.
- HOA fees.
- Homeowners insurance payments.
- Monthly home utlities (water, electricity, gas, etc.).
- Internet.
- And more.
If you need mortgage relief, consider speaking with your mortgage lender to get details on your state's relief package and what’s needed for your household to qualify.
About the Author
Judy Szablak
With over 30 years in the industry, Realtor Judy Szablak has been on national television for her real estate expertise on the HGTV Network, featured on Martha Stewart Living Radio "Morning Living” , NPR radio as an expert real estate panelist, It’s Relevant News channel, and quoted in the Wall Street Journal for her in depth knowledge of Fairfield County Connecticut real estate.
She was also on the local NPR radio station (WSHU) as a Fairfield County CT real estate expert. Judy has provided multiple online respected news sources with her real estate expertise including The Daily Easton, The Daily Weston, The Daily Fairfield, The Daily Stamford and The Daily Greenwich, as well as in print in the New York Post. She is a weekly Real Estate Columnist for WestportNow.com, another real estate column "Real Estate With Judy” is syndicated through Hearst CT Media Online and seen in The Connecticut Post, The Danbury News-Times, The Stamford Advocate, The Greenwich Time, The Hour, Fairfield Citizen, Westport News, Darien News, New Canaan News and the Wilton Villager.
Judy is also the author of the book, The Art of Buying or Selling a Home, available at all major book retailers. Additionally, Judy has been nationally recognized in a number of national real estate trade magazines, some with distribution to over 1 million members. She was featured in Real Estate Today as early as 1994 for her commitment to, and implementation of technology in real estate. Judy appeared in the Certified Residential Specialist Magazine, as she provided advice on marketing strategies and ethics in the article titled "Marketing Makeovers.”
Judy was also featured in REALTOR® Magazine, regarding image enhancement for Realtors. She was again featured in REALTOR® Magazine, in an article on "Achieving Flow” and operating at optimal peak performance. In another article in the same publication, Judy offered guidance to fellow real estate professionals as she explored the topic of implementing and maintaining personal websites. She has appeared in The Council of Residential Specialists Magazine, which featured her ideas regarding technology. Additionally, Judy authored an article on marketing and technology for the Certified Residential Specialist (CRS) Online Magazine. On two occasions, in 2015 and 2017, she appeared as a featured agent in Top Agent Magazine. I have a few other websites- www.TheCtrealtyBlog.com www.CtHomesAndRealEstate.com www.BestWestportHomes.com www.ThePetitePowerhouse.com www,SzablakConsulting.com
