New Help for Homeowners Facing Foreclosure
Posted: May 9, 2011
If you are a homeowner at risk of losing your home to foreclosure as a direct result of being unemployed or underemployed, you may be eligible for help through the New Jersey HomeKeeper Program.
According to Anthony Marchetta, executive director of New Jersey’s Housing and Mortgage Finance Agency (NJHMFA), the program is targeted towards helping homeowners who can “demonstrate a track record of timely mortgage payments prior to their loss in income.”
“New Jersey HomeKeeper provides assistance in the form of a second mortgage loan, repayable only if the homeowner sells, refinances, transfers or ceases to occupy the subject property within ten years from the date of the assistance loan,” explained Marchetta.
Program details, eligibility requirements and information about the application process can be found at the New Jersey HomeKeeper Program website.