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HUD "Partial Claim" May Help Your Past Customers Keep their Home!

Have you seen one of your past customers in foreclosure trouble lately?  I ran across this HUD program that may help some keep their home until they can get back on their feet.  It is called a HUD Partial Claim.  The HUD site says, "Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). The mortgagor will execute a promissory note and subordinate mortgage payable to HUD. Currently, these promissory or "Partial Claim" notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property."

If you know of a past customer in need, you may be able to get them some help.  Everyone appreciates a lifesaver - even in an embarrassing situation like foreclosure.

Here's a site you can refer them to: http://www.ehow.com/how_2094356_get-partial-claim-from-hud.html  or a quick search engine search for "partial claim HUD" will help.

Happy Selling and Listing!

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Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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Comments

Outstanding! Thank you so much for posting this information. I have two pre-foreclosure homeowners I am sure will appreciate this information. Regards, C.

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) over 12 years ago

Thanks for the information. I know a few people that might benefit from something like this.

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) over 12 years ago

That's great information.  These are the kind of solutions neccessary to get us through this rough spot in the market.

Posted by Hope Goss, Ventura Real Estate (Ventura Property Shoppe) over 12 years ago

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