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.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Betty Cutler Favier
Peaks Real Estate Sothebys International
136 Country Club Drive
Telluride, CO 81435
Phone 1: 800-737-9621
Fax: 970.692.8427
bcf@TellurideRealEstateOnline.com

Betty has 24 years of experience helping people buy and sell their homes. Listening to her clients, ongoing education in industry standards and trends, and a high level of confidentiality and professionalism have built a real estate business of long term relationships and referrals.

Sotheby’s International Realty© is a registered trademark licensed to Sotheby’s International Realty Affiliates, Inc. Each Office Is Independently Owned And Operated.

www.TellurideRealEstateOnline.com is brought to you by Betty Cutler Favier
NUMBER1EXPERT™ in real estate for Telluride and Mountain Village, Colorado, Ski Resort Vacation Homes and Condominiums

Read Betty Cutler Favier's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge