Bob Chapman

I was recently in Lansing representing the Michigan Banker’s Association (MBA) supporting the Hardest Hit Homeowner fund, which has been created to help consumers who are currently receiving unemployment benefits, may have fallen behind in their mortgage payments due to unforeseen circumstances such as a medical emergency, or can no longer afford their mortgage payments as a result of reduced income. This fund is designed to invest in our neighbors, friends and relatives who are struggling to work out arrangements so that they can remain in their homes. The first-come, first-serve program is expected to help 17,000 households statewide over the next 12 to 18 months.

If you – or someone you know – is currently struggling, one of the most important things that you can do is to proactively contact your mortgage provider today to discuss options.

There are many different programs out there that have been designed to help all of us get through this economic downturn. Your banks and credit unions are here to help inform you of your options so that you can make an educated decision on what is right for you and your family.

Please be careful as there are also many companies trying to take advantage and exploit those in need so it is important that you use a trusted financial advisor, such as United, to educate yourself on your options.

For more information on the Hardest Hit Homeowner Fund you can go to http://www.michigan.gov/mshda/0,1607,7-141–235359–,00.html

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