The first step in a Baie-Comeau mortgage assistance plan is to communicate with your mortgage lender. Let the company know that you are having financial difficulties. Often, if your Baie-Comeau lender knows your current situation, it allows them to work with you and get back on track.
Some other resources you may wish to investigate include:
- The Department of Housing and Urban Development (HUD) does not give cash assistance but they do offer contacts to approved housing counseling agencies that can guide you through the steps to avoid foreclosure and provide resources and educational materials for homeowners who face the possibility of foreclosure.
- Also, contact your state housing finance agency or your local housing assistance authority office. These offices may have information on state-run assistance programs for homeowners and referrals to additional local resources.
- Ginnie Mae is an entity completely owned by the United States government, whose main purpose is to provide financial assistance to low- and moderate-income homebuyers by promoting mortgage credit. A part of HUD, Ginnie Mae purchases mortgages from approved lending institutions, analyzes them and then sells them to investors. These mortgages are guaranteed and backed by the government. The Ginnie Mae web site also contains information such as the "Your Path to Home Ownership" guide, plus Buying vs. Renting and mortgage calculators.
- A non-government source is Fannie Mae. Fannie Mae is a shareholder-owned company that works to make sure mortgage money is available for people in communities all across America. They do not lend money directly to homebuyers. Instead, they work with lenders to make sure they do not run out of mortgage funds so more people can achieve their goal of homeownership. The Fannie Mae Consumer Resource Center also serves as an answer center for consumer inquiries. For answers to your questions, such as the availability of mortgage funds, you may wish to view their frequently asked questions or contact them.
- If you are a veteran, you may want to contact the Department of Veterans Affairs (VA). The VA offers many programs designed to assist veterans.
- In 2007, the federal government announced plans to help homeowners in need of assistance avoid foreclosure. This will help homeowners who are having difficulty paying their mortgages.
Finally, additional information on mortgages for homebuyers and homeowners is also available.
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