Bad Credit Mortgage Assistance – Are Americans Resorting to This?
Posted on | February 2, 2009 | 1 Comment
Many Americans have made financial mistakes in the past. Unfortunately, in the current global economic environment, there is little forgiveness for these mistakes. Bad credit can negatively affect almost every aspect of an adult life. If one cannot access credit, they lose the ability to own a home, vehicle or even a television. Dreams can be achieved even with bad credit if one seeks assistance from professionals or does in depth research. How can you find bad credit mortgage assistance?
Wells Fargo offers local mortgage assistance at this link. Now that Wells Fargo has purchased Wachovia, it is possible to get help from Wells Fargo in all 50 states. There are over 10,000 local experts that can speak with you over the phone about your mortgage modification or refinance options.
FHA offers down payment grants for new homeowners. They also offer several other programs that have been signed as part of the Housing and Recovery Act. Many current homeowners can benefit by contacting FHA or doing research at this site.
Please do not let your entire adult life be influenced by a few bad financial decisions. Seeking assistance is something many Americans are doing now and it is helping them live the American dream of owning a home and living debt free.
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One Response to “Bad Credit Mortgage Assistance – Are Americans Resorting to This?”
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February 3rd, 2009 @ 1:19 pm
” FHA offers down payment grants for new homeowners. They also offer several other programs that have been signed as part of the Housing and Recovery Act. Many current homeowners can benefit by contacting FHA or doing research at this site.”
my understanding was that The 2007 Appropriations Bill HR5527 was amended in the Senate to eliminate seller-funded dpa programs conducted by non-profits. The following language is proposed to be added to the National Housing Act:
“SEC. 323. The Federal Housing Administration is prohibited from insuring any mortgage under the National Housing Act in which the mortgagor receives downpayment assistance from an organization that solicits, collects, or receives funds from the seller of the property subject to the mortgage except that this prohibition would not apply to downpayment assistance programs qualified under section 501(c)(3) of the Internal Revenue Code of 1986. The Federal Housing Administration may insure a mortgage when downpayment assistance is provided by an organization described in section 501(c) of the Internal Revenue Code of 1986 that is exempt from taxation under subtitle A of such Code and that is operated in a manner consistent with Internal Revenue Service regulations.”
If I am mistaken, please contact me at kgrauoi@aol.com