While or even eligible for HAF, you might still apply for HAF even when the foreclosure process has started
- Single-household members land
- Duplexes
- Condos
- One-to-four-product dwellings
- Are built property
Based on the master of your own home loan, this new foreclosures process might be paused whenever you are about HAF app process, and if you’re recognized, the money could be used to take your mortgage newest and you will end foreclosure completely. For example, in the event the Fannie mae
backs the home loan, your servicer is necessary to pause foreclosures facts getting right up so you’re able to two months as soon as your HAF program has notified them from the job.
Most other authorities companies, including FHA, Virtual assistant, and you may USDA, firmly encourage servicers so you’re able to stop the brand new foreclosure process after they features started informed one a borrower enjoys taken out HAF otherwise become recognized to possess recommendations but don’t require it. Specific condition HAF applications need a great servicer to help you pause foreclosures interest. Consult your HAF program to see if they have notified the servicer. Aside from which backs their home loan, it’s best so that your own servicer be aware that you has actually removed HAF and have when your foreclosures techniques normally end up being paused.
We will submit it towards business and you will try to provide a response, generally in this fifteen days
If you are concerned with shedding your residence to help you property foreclosure, get in touch with a good payday loans Montevallo HUD-recognized casing counseling agency who can help you develop a strategy. Read more
