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Help For Unemployed Homeowners

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home sales money foreclosure Help For Unemployed HomeownersAre you unemployed and about to lose your home? There may be help for you. Michigan is sharing $154 million dollars with four other states in the country to help 17,000 homeowners keep their homes.It’s called the Hardest-Hit Homeowners Fund, and Governor Jennifer Granholm tells WWJ its for homeowners in three different categories.

“Those who are unemployed and who are having difficulty making their mortgage payment — the second cluster is for those who have faced an emergency of some sort, and have maybe skipped a payment, maybe it’s a medical emergency. We want to get them back on their feet,” Granholm said.

“Then, the third category is for someone who may have gotten a job, but may be earning a lot less,” she said.

There is a catch —  there are only 17,000 slots, and well over 100,000 people about to lose their homes.

Granholm said she does realizes this won’t solve the problem. But, she said,  it’s a step in the right direction.

“One way or the other we want to make as many people as possible have access to help. Seventeen-thousand, however, doesn’t represent the full scope of the need in Michigan,” Granholm said.

Help will be available starting Monday, July 12th.

To take advantage of the fund, you’ll need to qualify through your mortgage lender. Not all loan servicers are participaing in the program, so you must contact your servicer directly to see if you are eligible.

For more informaion on the program, visit www.michigan.gov/HardestHit.

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