Last Updated on September 13, 2023 by Lori Pace
The Obama Administration created many programs to prevent people losing their homes after the skyrocketing unemployment rate and economic downturn. These single mothers programs and grants are intended to assist with mortgage payments.
List Of Mortgage Grants For Single Mothers
This is a way of reducing the principal balance unpaid on a home by splitting it into separate accounts. You can have an interest-bearing and a non interest principal account. If the homeowner is able to make the payments on time, the non interest account will be reduced to zero over the three-year period. Call (888) 995-4673 for more information.
This is for individuals who have made a permanent switch to the HAMP mortgage modification. They now have a second mortgage on their property. This allows you to reduce the principal of your second mortgage. For more information about mortgage grants for single mothers benefits, call (888) 955 4673
This is an update to the Home Affordable Program (or the Obama Mortgage). This was previously only available to those with a first mortgage. The program is now available to those with a second mortgage. They can choose to pay the loan off with one lump sum payment or lower monthly payments. For more information on mortgage assistance for single moms, call (866) 939-4169.
This program is subject to slight variations from one state to the next. People who need help with arrearages, such as delinquent taxes, insurance, or declining balances, can apply for funds. You can contact your local HUD office for more information or call (202) 708-1112 to learn more.
Home Affordable Mortgage Grants For Single Mothers
Single mother homeowners can get the help they need to prevent their home from going into foreclosure. A family with difficulty paying their bills can get their mortgage rates down to 31% of their income by this process. Mortgages can often be reduced by up to $1000 in many cases. For more information, please call (888) 995-4673.
Individuals who have recently lost their job are eligible for this program. The program can stop monthly mortgage payments and reduce them to 31% of your gross income for up to one year. For more information on assistance for single parents, call (888) 995-4733.
This program allows homeowners whose home has lost its value to have their mortgage reevaluated. The process can result in a reduction of the interest rate, a decrease in payments, or the awarding of a shorter term loan. Contact your mortgage lender or any HARP lender for more information. For more information on grants for single mothers, call (800) 7 FANNIE or (800) FREDDIE.
Allows people to move up to $10,000 and allows them to sell or deed in lieu of foreclosure. Call (888) 995 4673 for more information.