Since Nevada was one of the hardest hit housing areas, Nevada was provided about $194 million dollars to assist homeowners in distress. Nevada’s Hardest Hit Funds has offered several different programs to help high-risk Nevada homeowners escape default and foreclosure.
All programs require homeowners to have loan balances of $417,000 or less on their first mortgage. If your first mortgage exceeds $417,000, you cannot participate in any of the Hardest Hit Funds Programs. However, please contact our office for further options. Furthermore, the Hardest Hit Funds Programs are only available on owner occupied homes and not investment properties. You can also be current on your mortgage and you do not have to be delinquent since some of the programs require you to be current to qualify. If it is a Fannie Mae or Freddie Mac loan, the loan must have originated before May 31, 2009.
These programs are at no cost to the homeowner if the homeowner decides to do it on their own, but not all homeowners qualify. At Van Law Firm, we may have other programs that may end in the same result if you do not qualify for any of these programs.
Some homeowners feel more at ease hiring our firm to assist them with filling out and reviewing their paperwork for completeness and accuracy prior to submitting it to the Hardest Hit Funds for approval. In addition, should you hire our firm; we will assist you in drafting your hardship letter to ensure that it includes all the hardships that you may be incurring. We will make sure that all documentation is submitted and we will follow up with the Nevada Hardest Hit Funds counselors to determine the progress of your file. Similar to doing your own taxes, sometimes people feel more comfortable hiring a professional who has the knowledge and the know how to help them.
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Please feel free to contact us today so that we may discuss the options that are available to you.
Call Van Law Firm at 702-529-1011