Unexpected events can happen at any time and may have a large impact if you’re a homeowner. Mortgage relief offers assistance to homeowners in need of aid on their mortgage which can ease some financial burdens.
What is the American homeowner relief program?
The American homeowner relief program was created to protect homeowners from perils such as loss of utilities, foreclosure and other risks that can put homeowners' place of dwelling in jeopardy. These perils may come about due to economic reasons, loss of employment, medical debt and more.
Relief options may include but are not limited to:
- Waiving late fee penalties.
- Adjustments to mortgage payments to offer homeowners the chance to make lower monthly payments in the event of financial hardship.
- Forbearance, which suspends your monthly mortgage payment for a set amount of time.
How do you qualify for a mortgage stimulus?
To qualify, the home you apply for must be your primary residence. State requirements may differ, however most states require proof of income at or below the median income level.
The balance of the mortgage must be below $548,250 and the amount received in your stimulus package will vary per state.
Once you’ve qualified for a mortgage stimulus, funds may be used for:
- Monthly mortgage payments.
- HOA fees.
- Homeowners insurance payments.
- Monthly home utlities (water, electricity, gas, etc.).
- Internet.
- And more.
If you need mortgage relief, consider speaking with your mortgage lender to get details on your state's relief package and what’s needed for your household to qualify.
About the Author
Julie Pieczonka
Hi- I am Julie Pieczonka and I would love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I would be honored to put my real estate experience to work for you.
I am a retired fitness education and health education teacher. I decided to satisfy a long-time goal of mine and become a Realtor. This continues my desire to serve others and am so fortunate to have had amazing success. I served as an Ohio & Indiana Realtor, was a member of the Ohio Association of Realtor's President's Club 2015, 2016 & 2017; and a member of the Cincinnati Area Board of Realtor's Circle of Excellence Club 2015, 2016 & 2017. Realtor of the Year for Sellstate Platinum Realty in 2020.
My husband and I (and our two golden retrievers) have become permanent Florida residents as I acted as a referral agent only in Ohio and Indiana from 2018 through the present.
I am actively practice my love for Real Estate here in the Sunshine State.
I absolutely enjoy assisting my clients in one of the biggest decisions they will make in their lives —that's buying and selling real estate.
Cordially-
Your Active Agent,
Julie
