While you are if not qualified to receive HAF, you can however submit an application for HAF even if the foreclosure techniques has begun
- Single-family relations homes
- Duplexes
- Condominiums
- One-to-four-unit homes
- Are produced homes
According to the master of your own home loan, the fresh new property foreclosure process might possibly be paused if you are in the HAF application processes, and if you are acknowledged, the bucks enables you to bring your home loan latest and you may avoid foreclosures completely. Such as for instance, in the event the Federal national mortgage association
backs your home loan, your own servicer can be needed to pause property foreclosure facts having right up in order to 60 days as soon as your HAF program possess notified them away from the application.
Most other government companies, including FHA, Virtual assistant, and you can USDA, strongly encourage servicers so you’re able to stop brand new foreclosure techniques after they keeps started informed you to a borrower have removed HAF otherwise started accepted having guidelines but don’t require it. Specific county HAF programs might need a good servicer to pause foreclosure hobby. (more…)