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Real Estate Tips
Financing Your Home >FHA Advisory

If you are in default on an FHA-insured mortgage, and the lender intends to foreclose, you should know about the Mortgage Assignment Program. You will have to provide certain information to the FHA to apply for this program.

To be considered eligible for assistance, the home must your principal residence. You must be at least three full payments behind on the mortgage, and the reason for your failure to make the mortgage payments must be due to circumstances beyond your control, such as unexpected unemployment. The FHA must be reasonably certain that you can resume making the payments at the end of 36 months and that the accrued deficiencies will be paid back before taking over the loan.

The Veteran's Administration also has a mortgage assistance program for those who have VA mortgages.

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Real Estate Trivia
Q 
Where is the world's largest art gallery?

A 
At the Winter Palace and Hermitage in St. Petersburg, Russia, visitors would have to walk 15 miles to see the 322 galleries which house almost 3 million works of art.
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Jim Reitzel, REALTOR®, real estate agent and broker for Kitchener, Waterloo, Cambridge and Guelph, Ontario home listings, property and land for sale - NUMBER1EXPERT(tm)

Jim Reitzel
Keller Williams Golden Triangle Realty - Brokerage

871 Victoria Street N, Unit 9
Kitchener, ON N2B 3S4
Direct: 519-570-6299
Fax: 519-741-8597
Jim@JimReitzel.com

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