Are you looking for an alternative to foreclosure? Have you spoken with a local Vermont foreclosure attorney about ways you can avoid having your home foreclosed on? If you answered no, now would be a good time to contact USAttorneys.com. We help individuals just like you on a daily basis get connected with Vermont foreclosure lawyers in your city who can discuss the foreclosure process with you and why it may or may not be the best option for you to follow through with.
Unfortunately, times get hard and finances begin to wither away not allowing you to have enough to cover the costs of your necessities such as your car payment or mortgage. When a homeowner is no longer able to pay their mortgage, their lender often assumes after a certain period of time that they aren’t going to get their money. This causes them to initiate the foreclosure process in hopes of them recouping the money through the sale of your home. But, that doesn’t have to happen if you have the right legal professional working on your side representing you.
Foreclosure attorneys in Vermont are able to help you understand what your options are in the foreclosure process and inform you of the programs that are available for you to help you keep your home.
What is the Home Affordable Modification Program (HAMP)?
HAMP is a program that is designed to help homeowners who are at risk of foreclosure obtain reduced monthly payments that they can afford over a long period of time. If you are facing a financial hardship and have the documentation to prove it and are able to make monthly mortgage payments after a modification, you might be eligible for HAMP. The program can offer a few incentives which ultimately will help a homeowner keep their home.
Some things HAMP can do include:
- Modify mortgages so homeowners can have reduced monthly payments.
- The program encourages private lenders to modify mortgages at no expense to taxpayers.
- It can help families reduce their monthly payments by a median of more than $530 each month.
In many instances, the issue for individuals becomes the amount of the mortgage payment and not solely the payment itself. HAMP provides a way for individuals to lower their payments and keep their home. To learn more about this program and if it would be a right fit for you, speak with one of the foreclosure attorneys featured on our site. They can further explain the details of this program and can even help you obtain the evidence you need that can prove you qualify for it.
In the event you are dealing with a different issue involving foreclosure, our Vermont foreclosure attorneys are able to assist you. There are many aspects of the foreclosure process that might be easier to deal with if only you had the help you needed from a professional who has your best interest in mind. Call us up today and learn how we can help you find these professionals free of charge.