Miami mortgage relief and foreclosure prevention.
Low income homeowners in Miami may be able to get help to stop a foreclosure or pay their mortgage. The county and their Department of Housing and Community Development as well as 311 intake center provide help to people who are struggling with a home loan or even their property taxes. Find help with a mortgage in Miami FL.
Relief is for low-income homeowners
The primary goal of this Miami mortgage assistance program is to help families and individuals avoid homelessness. The programs from the city as well as national non-profits, such as HUD or non-profit credit counseling including MMI, can help people get back on track with their home loan payments and avoid foreclosure. The support services are often combined with counseling and other support, such as budgeting classes.
As resources allow, the City of Miami’s Foreclosure Prevention Program may be able to provide referrals, including to financial assistance and cash grants. As some Dade County non-profits, including the Miami community action agency, provide financial help to low income and other eligible homeowners who are facing foreclosure.
Funds and grants may be available to pay late fees, property taxes, attorney’s fees, as well as a home loan. Non-profit can also help with homeowners’ association payments, special assessments assessed by the lender or the city, home insurance expenses and other foreclosure associated costs.
There are other forms of mortgage relief in the county too. The organizations that offer mortgage help have many components. This includes credit repair services, debt relief from Miami credit counselors, and much more - all in an effort to help people with their finances.
Details on mortgage help in the Miami FL area
There are several conditions that of course need to be met, as the program is not a charity program. Some of the criteria include the following.
- -The homeowner needs to prove that the mortgage delinquency and the reason they are behind on their payments is due to a significant loss of household income that was experienced by the borrower. The reduction of income can be caused by various reasons, including loss of employment, a medical emergency that caused sudden health care expenses, death in the family, divorce or separation, predatory lending practices and / or unforeseen / home repairs and maintenance.
- -The applicant must be able to demonstrate the ability to make future mortgage payments after assistance is received and they need to be provided and agreed to stay on a revised monthly budget.
- -The home must be a single family residence, owner-occupied and have a homestead exemption and of course it needs to be located in the city of Miami Florida.
- -The homeowner who applies to the Foreclosure Prevention Program must agree to undergo counseling and register for workshops. The sessions will give free advice on foreclosure prevention and there is also debt counseling from a HUD-certified Counseling Agency that is located in the region. More on Florida HUD agencies.
Interested borrowers can contact the city or local non-profits for help. The Department of Housing and Community Development is also a key resource for the economically disadvantaged. Or find details on mortgage help from community development here. https://www.miamidade.gov/business/foreclosure-prevention.asp.
Contact information
If you are interested in applying for assistance or to get more information on the Miami Foreclosure Prevention Program, please dial 305-416-2080, a non-profit credit counseling organization or the countywide 311 service. Also, as noted, local non-profits may also help struggling families pay a mortgage.
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