From the last mortgage crisis that began in 2008, many government programs were created to help struggling homeowners. Unfortunately, there are also scam artists trying to take advantage of people…
Posts Categorized: Homeownership
Whether you are requesting a loan modification or a short sale, your lender will most likely ask you to submit a hardship letter. The purpose of the letter is to describe, in the homeowner’s own words, why the homeowner is not or may not be able to make his or her mortgage payments. A key thing to remember is that it is important that you include actual reasons for the hardship and any plans you have for the future.
If you are facing financial difficulties and are seeking to renegotiate your mortgage, you will have to write a hardship letter. This letter explains your situation to your lender so they will fully understand why you are unable to make your mortgage payments as agreed.
We have often suggested renting out space in one’s home as a strategy for increasing income and cutting housing expenses. Naturally, this is much easier said than done, so we’ve been offering some posts about what goes into renting out part of your house.
Here are some important Dos and Don’ts when renting out space:
These tips are courtesy of HUD (the US Dept. of Housing and Urban Development) here are 11 tips on being a smart consumer when it comes to avoiding loan fraud….