Mortgage Assistance Program Process

Debt can be overwhelming and for those people in Royal Oak who find themselves in debt, sometimes it can feel like they have a constant weight hanging around their neck no matter where they go. Debt never sleeps; it never even takes a rest. In fact, when you get into serious debt it can feel like there is no way out. Debt comes in many different forms and it can affect people in many different ways. One of the most common kinds of debt people carry is mortgage debt. When you are unable to stay current on your mortgage payments you put yourself in the position of losing your home. If you are in this type of situation then you should speak with a real estate attorney.

Helping You Save Your Home

There are several options you can explore when you are at risk of losing your home to foreclosure, including a mortgage assistance program. Thanks to the efforts of the federal government, many state and local governments have crated programs to help homeowners avoid foreclosure and the prospect of losing their homes. Every state is a little different in how it chooses to implement these programs, but essentially the programs offer these options:

  • Helping owners refinance their existing mortgage
  • Obtaining a new mortgage
  • Obtaining federal or local grants
  • Mediation

Michigan Offers Mortgage Assistance Programs

In Michigan, the Michigan State Housing Development Authority (MSHDS) offers two different programs to help homeowners who have an adjustable rate mortgage or a fixed loan with a higher interest rate: the MSHDA Assist Refinance program and the MSHDA Rescue Refinance Program. Through these programs, both of which offer different refinancing options, many homeowners are able to obtain a lower monthly payment and thereby stop the foreclosure process and keep their homes. These programs are designed to help prevent so many foreclosures from taking place. That’s good because both lenders and borrowers generally prefer to take alternate measures other than foreclosure. That’s why it’s a good idea to contact us. With the help of our Royal Oak law firm you might be able to obtain mortgage assistance and keep your home.

Contact Our Royal Oak Law Firm for Help With Mortgage Assistance Programs

At The Law Office of John Little, PLLC, we understand that people get into debt for many different reasons and that no two situations are exactly the same. We take the time to listen to you so we can understand the specific details of your situation. If you are having trouble making your mortgage payments in Royal Oak, or you are already behind in your payments, then let our experienced full service law firm help you. We will explore all your options with you, including a mortgage assistance program. We know that the prospect of losing your home can be scary. However, don’t give up hope; you may still be able to keep your home. If you are at risk of losing your home, then call us today at 248-865-3455, or contact us online. We also serve Troy, Berkley, Redford, Detroit, Bingham Farms, Southfield, West Bloomfield and Sterling Heights.