Remortgaging / Refinancing



The Emergency Homeowners Loan Program

Massachusetts was awarded $61 million from the HUD program to assist homeowners who are 3 or more months behind on mortgage payments due to either unemployment of their income falling by more than 15%.   Owners might qualify for an up to 2 year no interest, forgivable loan to prevent foreclosure.   The state anticipates assisting 1,260 owners.
July 22nd is the deadline for homeowner's to file pre-applications;   there will be a lottery of applicants after the July 22 application closing date.

Free Reverse Mortgage Counseling for Older Homeowners

We're making it easier for older adults to explore how reverse mortgage loans, along with community programs and other options, could help them remain in their own homes longer.   Counselors in NCOA's Reverse Mortgage Counseling Services Network are waiving the usual $125 fee for a counseling session.
Courtesy of Linn Morrill, MDPH

Check 1st with HOME for Refinancing!

Check with Homeowner Options for Massachusetts Elders (HOME, Inc.) at 781-848-5200 or go to www.elderhomeowners.org before refinancing!   Their web-site may need updating but is still a good resource.
Courtesy of Emmett Schmarsow, Prog. Mgr. COAs & Senior Centers, ELD



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