Irvine, CA (PRWEB) November 22, 2012
There’s nothing better than spending the holidays at home with loved ones, however millions of homeowners this year are still at risk of foreclosure. According to data provided by RealtyTrac, 46% of all homes in the United States (almost 21 million homes) are underwater; this happens when the unpaid mortgage balance exceeds the value of the home. This trend, coupled with many families making less money or facing unemployment, has proven to be a dangerous combination.
Thankfully, there are solutions and people are being helped!
For example, Ohio’s Restoring Stability program provides free mortgage assistance to struggling homeowners. We had a chance to interview one family that has something special to be thankful for this year - saving their home from foreclosure.
Peggy Cubbison is Special Needs Assistant for David Baker. They live together in Dresden, Ohio. After 28 years of employment, Mr. Baker was laid off and faced foreclosure. Peggy applied to the Ohio Housing Finance Agency and was receiving assistance in less than 2 months. She tells non-profit Help Share The Word, “If it wasn’t for the Restoring Stability program, we would not be in our house this holiday season. It truly is a wonderful program. If you can make the effort to do your part, they will go above and beyond to provide you with assistance.”
Although people are being helped, there is more to do. Many homeowners continue to face foreclosure and many of them are unaware that there are free programs available right now. In fact, the U.S. Treasury has allocated $7.6 billion to support struggling homeowners through the Hardest Hit Fund. By filling out a short application on a state government website, a homeowner can apply for free assistance to help keep their home.
The states currently participating in the Hardest Hit Fund include Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee and the District of Columbia.
For the fastest way to find your State’s website and apply for free, visit http://www.HelpShareTheWord.org.
About Help Share the Word
Help Share the Word is a nonprofit Public Benefit Corporation and is staffed by volunteers familiar with the foreclosure industry. It does not accept charitable donations, and is designed strictly to provide awareness to troubled homeowners.