HELP FOR HOME OWNERS

Wow… well who could have expected this pandemic? While we are getting used to our new normal (if we can call it that) many homeowners need some serious help. I want to point you in the right direction and here are some great resources.

  • Many banks are allowing people to “defer” their payments which means they are tacking them on to the end of your loan.
  • As part of the recently passed CARES Act, which funded $3.2 trillion in monies to support the US economy, there’s a part of the Act that helps those who have a mortgage and are affected by the COVID-19 pandemic. For specific details, it is best to read this article on Houselogic.com or start by calling your lender to get information.If you need help in locating resources that might be available to you, please feel free to give me a call at (602) 620-2277 and I’ll be glad to help you find the right answers.

Here is some local help for Arizonans

The Save Our Home AZ Program

The goal is to help homeowners avoid foreclosure by helping with mortgage affordability.

Also known as “SOHAZ.” it offers principal reduction assistance, monthly mortgage subsidy assistance for unemployed and underemployed people that live in Arizona. It also offers Second Lien Elimination Assistance to qualified Arizona homeowners.

The program’s goal is to aid Arizona’s homeowners in avoiding foreclosure by assisting with mortgage affordability (a payment that does not exceed 31 percent of gross income) inclusive of property taxes and Homeowner’s Association (HOA) fees. Your lender’s agreement to participate may be required, since mortgage assistance is provided directly to lenders on the homeowner’s behalf.

For additional program information read the Program Fact Sheet and Program Application Process Details on their website you can find here.

To see if you might be eligible for assistance through the SOHAZ Program or to begin an application for assistance click on the Self Assessment and Online Applications (link is external).

If you wish to speak to a free Housing Counselor, dial toll-free 1-877-448-1211. Other SOHAZ Program questions may be directed to the Arizona Department of Housing, Monday through Friday, from 8:00 a.m. – 5:00 p.m. by dialing (602) 771-1000. Information on other eviction and foreclosure programs in Arizona is available here.

For those interested in tracking assistance provided through the Hardest Hit Fund, reports may be accessed on the Hardest Hit Fund page.

Diane Brennan

Diane is the host of Own It Girl! that podcast for women. She has spent over 20 years in radio broadcasting in both Canada and the U.S. and has turned her passion into a full time career, combining her loves of podcast and real estate. Diane is licensed at Coldwell Banker Residential Brokerage.

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