Home Mortgage assistance?

purplecatty

purplecatty

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I wonder are there any home mortgage assistance program for deaf/handicapped? Like for example, if any deafie get laid off or taken pay/hour cut on their job that adversely affect their ability to pay home mortgage, will Govt or any banks or insurance (if included in Mortgage payments) that will help pay some or pay off their current Mortgage loan?

Just wonder.. :shrug:

I'm not in any trouble with my home payments but "just in case" cuz of my postal job may will have impact soon, it won't be layoff for me, just re-assignment and possibility temporarily become Part Time Flexible with retreat right or be Excessed up to 250 miles. If I receive a letter from Postmaster then I will know. My other option is to sell the house and downsize to smaller house which the last thing I would do (I don't actually want to move cuz of my kids have friends around plus my wife is attached to our home unless it's necessary to downsize if there's no other options to keep the home).

It would be nice if Govt pay 50% of Loan principle on deaf people's home loan and they can refinance and keep their home. Cuz bankers and lender get bailout money from taxpayer and spread it instead of helping us. Wish Govt use it wisely to help American homeowner to avert foreclosure. I doubt that :rofl:

Catty
 
From my understand, your mortgage must be over 33% of your income to get assistance, and that if the interest rate is within subprime rate or in ARM yes. But if you got mortgage that is in prime rate, and still can't may payment, your pretty much out of luck.

I have no problem with my mortgage because I refused to take sub-prime rate, also ARM mortgage which I called toxic loans. Also I kept the agreement below my affordable amount. What I mean I refused to exceed what I can afford even though mortgage told me I am qualified for higher amount of loan. I had to think ahead, what IF I get laid off? I keep that within means of my future income. Because of this, I was able to ride over unemployment for 4 months during 2005.
 
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diehardbiker said:
From my understand, your mortgage must be over 33% of your income to get assistance, and that if the interest rate is within subprime rate or in ARM yes. But if you got mortgage that is in prime rate, and still can't may payment, your pretty much out of luck.

I have no problem with my mortgage because I refused to take sub-prime rate, also ARM mortgage which I called toxic loans. Also I kept the agreement below my affordable amount. What I mean I refused to exceed what I can afford even though mortgage told me I am qualified for higher amount of loan. I had to think ahead, what IF I get laid off? I keep that within means of my future income. Because of this, I was able to ride over unemployment for 4 months during 2005.
Click to expand...

Yup, I agree that ARM is toxic and it's called "death trap". I never like the idea of using ARM. I use Fixed rate loan. Currently, my lender, Countrywide just taken up by First National Bank. My wife complained that they were increasing our Mortgage payment little by little. Contract say that it would never increased even if there are change of lender. Our property tax and insurance always increases but we can see the loan itself is increasing. It apparently bank is doing something dirty. We are going to talk with Bank President to find out why. If there are issue then we will have to file complaint.

Catty
 
Don't mean to hijack this thread.
I have a question catty. Isn't countrywide one of the most highest mortgage banks with high interest rates? Don't tell me what yours is because its none of my business. My old house, before I sold it due to major health issues, was at 6.625% if I remember right. That was through GMAC Mortgage. Now I'm renting since I got out of hospital after 6 months. In a year or two..ill be ready to buy house.
 
Dodge Trucker said:
Don't mean to hijack this thread.
I have a question catty. Isn't countrywide one of the most highest mortgage banks with high interest rates? Don't tell me what yours is because its none of my business. My old house, before I sold it due to major health issues, was at 6.625% if I remember right. That was through GMAC Mortgage. Now I'm renting since I got out of hospital after 6 months. In a year or two..ill be ready to buy house.
Click to expand...

No. It's not the highest interest loan from Countrywide. My Real Estate Agent found good low interest point from Countrywide. I got 5.5% interest for 30 years loan in 2003 when USA was in recession. I just got lucky for now.

Catty
 
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