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