foreclosures 2There’s an epidemic sweeping the U.S. faster than swine flu. The foreclosure rate is rising like a fever temperature and spreading like a cold! So before your real estate property gets sick, make sure to get your foreclosure flu shot! Here are four remedies to help with foreclosure.

1. Under the weather and unemployed. The stress of being unemployed with a looming house payment is enough to make anyone sick. Fortunately, there are government programs available for those who qualify. According to www.hud.gov if you are having a tough time making your mortgage payments due to unemployment, you may be eligible for the Unemployment Program (UP). UP provides a temporary \ reduction or suspension of mortgage payments for at least three months while you seek re-employment.

2. Take a dose of vitamin “R”. Underwater mortgage got you feeling a little green around the gills? Take some vitamin R which stands for refinancing or reduced principal interest. The Home Affordable Refinance Program(HARP) offers qualifying homeowners who have been unable to obtain a traditional refinance due to an underwater mortgage the chance to refinance through their program. The Principle Reduction Alternative (PRA) helps homeowners whose home values have dropped by encouraging servicers and investors to reduce the amount owed on the home.

3. Wash your hands of high payments. Eliminate foreclosure flu germs by washing your hands…of high payments! The Home Affordable Modification Program (HAMP) helps homeowners by lowering their monthly mortgage payments to 31 percent of their verified monthly gross income. The typical HAMP modification results in a 40 percent drop in monthly mortgage payments reducing payments by $1000 or more according to www.hud.gov.

4. Chicken soup for the short sale soul. Chicken soup and a short sale can help sooth a “sick” homeowner. If your mortgage payment is unaffordable, you may be eligible for a short sale through Home Affordable Foreclosure Alternatives (HAFA). Through this program you wouldn’t have to pay back the difference between the sale and what is owed and could receive a $3000 relocation incentive to help.

Don‘t catch the foreclosure flu! Drink plenty of liquids and contact your lender for options today.

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