Posted by: jimlyons | August 29, 2011

Mortgage Delinquency Help


Mortgage Delinquency Help

A recent article in the Realty Times quoted the following regarding mortgage delinquencies in general:

“The delinquency rate for mortgage loans increased for the second quarter of 2011, up to 8.4 percent of all loans outstanding.”

“Mortgage delinquencies are no longer improving and are now showing some signs of worsening. The good news is the continued decline in long-term delinquencies, those mortgages that are three payments or more past due. The bad news is that drop is offset by an increase in newly delinquent loans one payment past due.”

I thought this might be a good time to revisit the “HomeSaver” program available to homeowners in Wash DC for the Hardest Hit Housing markets. It provides some financial relief for homeowners that may be behind in their mortgage payments. Like everything else, it does have eligibility criteria. Check out the link below to see if this may be useful.

http://www.does.dc.gov/does/frames.asp?doc=/does/lib/does/services/HomeSaver_Program_Fact_Sheet_4_18_11.pdf

http://www.ncrc.org/media-center/press-releases/item/540-the-hardest-hit-fund-reaches-dc-residents-via-newly-launched-homesaver-program

The Lyons Realty Group-serving DC and Northern VA

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