Posts Tagged ‘foreclosure’
Alternatives to Avoid Foreclosure
Mortgage Foreclosure Assistance in Pennsylvania
Thousands of Pennsylvania families faced with the possible loss of their homes through foreclosure have received help from the Homeowners’ Emergency Mortgage Assistance Program (HEMAP). This unique program, created by Act 91 of 1983, is the only one of its kind in the nation. HEMAP is a cost effective means to prevent homelessness among Pennsylvanians. By giving assurance of steady mortgage payments, it allows homeowners to seek alternate employment, job training, and/or education when they need it most. The program is funded by State appropriations and repayment of existing HEMAP loans.
HEMAP is a loan program designed to protect Pennsylvanians who, through no fault of their own, are financially unable to make their mortgage payments and are in danger of losing their homes to foreclosure. HEMAP funds loaned to prevent foreclosure are not a grant. These funds are a loan and must be repaid. Please note that FHA Title II (purchase) mortgages are not eligible under this program. Read the rest of this entry »
