If you can no longer afford you home and are pursuing a short sale or a deed in lieu of foreclosure, you may be eligible for financial help with your relocation to alternative housing. The funds come from the Transition Assistance Program (TAP), part of the Indiana Foreclosure Prevention Network (IFPN). The state of Indiana is providing up to $2,500 in transition assistance to qualified homeowners who can no longer afford to stay in their homes. You can help by advising your distressed clients that they must: Apply for the funds through your states website or by calling (877) GET-HOPE. Maintain your property until your house is sold or returned to the lender via a negotiated deed in lieu of foreclosure. For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program. To learn more about the Transition Assistance Programs guidelines, and how your clients may qualify, please visit that programs website at 877gethope.org
Posted on: Wed, 05 Nov 2014 15:51:19 +0000
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