Florida mortgage help can help you avoid foreclosures. If you are also one of the thousands whose servicing of the loan has been sold to another person or body whose office may or may not be located in Florida, worry no more. It is possible that it may have been sold to another mortgage lender. Worse still, the mortgage lender might now be owned by a large bank (not located in the state) or which is no longer in the business. Start Afresh- If you are also planning to start afresh then Florida mortgage assistance is for you. It will help you stop or avoid foreclosure. You can take a special foreclosure loan and combine your debts into a single payment.
To qualify, you need to submit the house for which you seek an EEM for inspection. The house will be assessed by a rater with the qualification standards of the U.S. Department of Energy in mind, the results will verify whether your home is efficient or not. Another mortgage assistance that provides borrowers funds to finance energy-efficient features in an existing home is the EIM or the Energy Improvement Mortgage.
In order to qualify for an EIM, your home must also be inspected by a rater in order to provide your mortgage lender the Energy Savings Value (ESV). The ESV is the estimated monthly energy savings plus the value of the energy efficiency features used in your home. Furthermore, you must be able to pay at least 3.5 percent down payment which is based on the sales price of the property; it must be one to four units residential home; and should reach the standards of the U.S. Department of Energy before you can apply for this type of help for homeowners.
Your current lender and the federal government website is the best resource for getting information on applying for a government loan modification that may keep your home out of foreclosure. It is wise to being researching your options at the first indication of financial distress.
The energy-efficient mortgage is indeed a practical help for homeowners funded by the federally insured mortgage programs, secondary mortgage markets, and lenders. Until now, the loan is rarely used by American borrowers which can greatly help make homes more affordable and cost-effective. The EEM may also be a useful mortgage help as it increase your chance to qualify for an even larger loan amount which boosts your home buying power. This is one practical mortgage that must be exploited not only for the benefit of your own pocket but for the good of our environment as well.
