Thursday, October 31, 2013

Florida Hardest-Hit Fund Offers Foreclosure Prevention Support for Unemployed

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The Florida Hardest-Hit Fund program was unveiled in the Sunshine State on April 18, 2011. The primary focus of the program is to offer foreclosure prevention assistance to residents that are unemployed or underemployed.

Florida Hardest-Hit Fund is comparable to the Making Home Affordable; a government sponsored program recently under scrutiny for providing disappointing results. Initiated in 2009, Making Home Affordable set lofty goals to help as many as 4 million homeowners considered at risk for foreclosure. Two years later, MHA has only helped about 200,000 homeowners obtain permanent loan modifications.

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As a real estate investor who has spent many years buying and selling distressed realty, I often receive calls from homeowners who desperately need foreclosure help and don't know where to turn. Although Making Home Affordable has not come close to reaching goals, I am still a proponent of the program, as well as others that can help homeowners save their home and get back on track.

The Florida Hardest-Hit Fund is similar to MHA, but focuses on offering financial assistance to unemployed and underemployed Florida residents. At present Hardest-Hit offers two programs that include: Mortgage Loan Reinstatement Payment Program (MLRP) and Unemployment Mortgage Assistance Program (UMAP).

UMAP is the more popular of the two offerings. This program is available to individuals that are unemployed or underemployed through no fault of their own. UMAP offers up to six months of mortgage payments or a maximum of $12,000 to qualified homeowners.

MLRP is available to homeowners that have regained employment, but owe outstanding mortgage payments. Qualified homeowners can receive up to $6,000 to payoff past due amounts.

As it is with nearly all government-sponsored programs, qualifying for funds involves a lengthy application process. Prior to submitting an application, Florida residents ought to thoroughly read eligibility criterion and understand program details.

Decisions are based upon three elements that include: mortgage eligibility, property eligibility, and household eligibility. Each element has additional criterion that is presented within the Florida Hardest Hit Frequently Asked Questions report offered via the website.

Household eligibility requires property owners to be Florida residents that are underemployed and unemployed and use the house as their primary residence. The total household pretax income needs to be less than 140 percent of the county's median income level.

Additionally, Florida homeowners' housing debt must surpass 31-percent of their pretax household income. If homeowners have financial assets that exceed three months' of mortgage payments or $5,000, assets must be contributed toward curing mortgage arrears before they can apply for MLRP or UMAP funds.

The Florida Hardest-Hit Fund received over $1 billion in federal funds to help Florida homeowners. However, the rigorous application process and stringent eligibility criterion makes it difficult for many middle-class homeowners to obtain financial assistance. Homeowners that don't qualify for this program may want to investigate Obama's Making Home Affordable program.

A lot of people aren't aware of the government programs currently available to homeowners facing foreclosure. Many of those that do remit applications find the process complicated. Individuals that are uncertain if they qualify or how to submit an application, can obtain complimentary housing counseling through the Department of Housing and Urban Development.

HUD housing counselors can assist homeowners with filling out and submitting applications for both Making Home Affordable and Florida Hardest-Hit Fund programs. Individuals can locate a national list of approved HUD housing counseling agencies at HUD.gov.


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Quick Cash From Payday Loans

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When you are in between big problems which seem like boulders trying to squish you, you must be working so hard to get out of these and get yourself out to safety. This situation may certainly happen when you are knee-deep in financial crisis yet you do not want other people to know about this. You just would have to find another way to save yourself. Payday loans can answer your silent shouts for help.

Payday loans can provide you quick loans when you need cash right away. To convince yourself about its merits, you should read and carefully digest how payday loans can be of great help to people just like you.

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About Instant Approval Payday Loans and How to Get One

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Payday loans come by different names including payday advances, deferred deposit loans, and cash for checks among other terms. This article will explain what instant approval payday loans are and how to get one.

Instant approval payday loans, as the name suggests, are short-term loans that you can take out during an emergency and payable on payday.

Depending on whom you ask payday loans are either the smartest or the dumbest thing you can decide to get. The media likes to bash them. Some quarters have even called for these loans to be outlawed, and some states have done it. Yet those of self-determination, free market and personal choice school of thought want them to stay. Neither school is right or wrong. Why?

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Payday Loans - Is It The Right Choice For You?

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Do you need to opt for payday loans or any other loan for your emergency? If you need any type of loan, then make it sure that you are taking the most suitable loan according to your need. In every case, you need to pay it back in addition with the interest that is charged against the amount of the loan. Payday loans are for providing you the instant cash that you need for any emergency reason. This type of loan is different from the others. If you take this type of instant loan, you cannot take more than the amount that has been fixed by the rule. The minimum and maximum amount of this type of fast cash loan is previously fixed and it depends on the state's law that what will be the lower limit and what will be the upper limit of payday loans. If you are thinking to take an instant cash loan, make sure that the loan you will take is the most suitable one for you. If you take any loan that does not appropriate for you, then it will lead your financial life towards a crisis. Therefore, it is very important to think it before you take it up finally.

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Unemployment - How Will It Affect The Real Estate Market?

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It's easy to see how and why unemployment levels have an effect on the housing market and other sectors of the economy. To state the obvious, the people without an income and are not economically independent won't have the money available to buy products and meet monthly bill payments. Those without the available funds are likely to lose their house or not be able to purchase a house in the first place. This adds unoccupied homes to the housing inventory, which will contribute toward a reduction in house prices.

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Despite numerous government projects to help stimulate the economy by helping home owners being instigated, a lender is extremely unlikely to negotiate on any loan repayments if the debtor cannot demonstrate how they could afford to pay in the future. This means that foreclosure is extremely likely and a high number of foreclosures are not at all good for the market.

Another, less direct way in which unemployment could have a negative impact on the housing market is through the effect that the unemployed have on the economy. The people without an income have less or no disposable cash to spend, which means that they purchase less from shops and other outlets. This in turn decreases the revenue that's taken by commerce which could result in redundancies or even business closure. This in turn means that there's even less money available on the market for things such as home purchase.

On a more localized level, increased crime rates are witnessed in a certain region having high unemployment levels. Any area with high crime rates is less attractive to prospective buyers and therefore the price of the housing is adjusted downwards to make amends for this lower demand.

Even the people who are employed might not be confident about their future in an economy that is seeing rising unemployment figures. Due to this they might choose to wait until a bad economy stabilizes and improves before making any massive purchases, houses included. Another factor could be that in a negative economy individuals expect house prices to decrease, and thus choose to wait until the market levels out so that they can get the best available price.

Those who do have jobs and a disposable income are more likely to maintain and invest in their houses. Home improvements like re-decorating and building extensions would always have a positive impact on the desirability of a home and nearly always push the price up relative to its location. With fewer individuals making such home improvements, or probably even seeing their houses fall into disrepair because of shortage of funds the overall attractiveness of homes, and therefore the amount that a buyer would be ready to pay for them would drop.

With unemployment levels so closely linked with the housing market, it's usually one thing that is looked at when economists try to forecast housing prospects, and a factor that individuals usually take into consideration before deciding on whether or not to go on with a purchase.


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Small Cash Loan - Gain Its Instant Benefits

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Small cash loan is an instant money provision to meet your immediate ends even in the middle of the month. These loans help you exactly when you are in cash crisis. Today, in ever increasing price of necessary items, everything has become costlier that has made you more susceptible to face money shortage right in middle of the month. Certain needs do not come with any pre-notice, so you feel writhing in cash crisis. At this point in time, small cash loan comes forward and enables you to overcome the existing money crisis.

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Short Term Cash Loans - Adequate For Short Term Issues

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Get rid of all your short term problems now. If you keep your short term problems pending then these will keep on increasing, so, it is better to handle these the moment it occurs. The short term cash loans will help you out in that.

The offered amount in these loan ranges from £100 to £1500 and the repayment term is 14 to 31 days. The repayment tenure may look like short but actually it is being designed for your help only. You can easily adjust the repayment date with your payday whenever you borrow the money. As soon as you adjust it the payable amount will be automatically paid off from your bank account to the lender. So, everything will be easy for you. Nor will there be any problem in borrowing neither any problem in repaying.

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For borrowing the loan amount you will only have to prove to meet a few grounds. According to these, you will be eligible if you are of or above 18 years of age, earn £1,000 as minimum income and have a bank account. If you can prove to qualify on these grounds then you will be guaranteed allowed for these loans. No objection will be there and in fact, you will be allowed in spite of being a poor credit holder.

There is an adequate reason for allowing the poor credit holders. As there is no credit check no one gets turned down and time gets saved in a great deal. That is why; money is delivered on the same day of applying in these loans. The permitted poor credit holders are:

Arrears
Late payment
Defaults
Bankruptcy
CCJs
Skipping of installments

Short term cash loans will let you pay your home installments, medical bills, electricity bills, loan installments, child's examination fees, grocery bills or you can repair your car too.


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