Options To Prevent Gainesville Foreclosure when Unemployed
Unemployed and Facing Foreclosure
There have been rules by FHA obligating lenders to extend their fortitude to homeowners who are unemployed for the span of 12 months. These rules took effect in July 2011 and are geared toward giving assistance to unemployed homeowners for them to make it through the economic depression.
The original fortitude timeline was limited to four months but the timeline for most homeowners had been extended to 12 months after the prolonged state of unemployment. More than 45% of the unemployed have been hunting work for more than 24 months.
Short Sale Agents in Gainesville believe that homeowners will be given more chances to find employment during this time of economic depression if the timeline for the fortitude will be extended.
In order to prevent foreclosure, a time of review at the end of the 12 months has been implemented to assist the homeowners.
Short Sale Agents in Gainesville Florida are encouraging those FHA borrowers who are having difficulties on their mortgages during extended unemployment status to call their lenders rightaway – now that a special fortitude option is being offered. An FHA borrower will be qualified in getting more assistance than would be available once a loan default process is enforced when they take the time to notify the lender about the unemployment status.
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Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.