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Homeowner Assistance Programs
When you need a hand, you can find one at Independent Bank. If you’re experiencing financial challenges, we’re here for you.
Let’s find a solution
If you’re experiencing difficulty paying for your mortgage, we’re here to offer solutions, some of which may include:
- Loan modification
- Short-term repayment plans
- Forbearance plans
- Short sales
- Deed in lieu of foreclosure
Loan counselors can be reached at 800.292.5020, Monday-Friday from 8 am-8 pm and Saturday from 9 am-1 pm (EST). You can also contact us online and select “Homeowner Assistance” from the drop-down menu.
MSHDA Homeowner Rescue Programs
On February 19, 2010, President Obama announced the availability of funding under the Housing Finance Agency (HFA) Hardest-Hit Fund. Michigan was one of five states eligible to create programs for funding under this program. MSHDA encourages homeowners interested in participating in one of these programs to use the time between now and the anticipated enrollment period to gather documentation pertaining to income, assets monthly debt and living expenses. Contact your Independent Bank loan counselor at 800.292.5020 to find out if you may be eligible. If you need additional information, you can call MSHDA toll free at 866.946.7432 or contact a homeownership counselor in their area. Counselors can be located on MSHDA’s website.
Protect yourself from foreclosure scams
The U.S. Department of Justice has compiled tips to help protect consumers from foreclosure scams. The tips can be found in this article from the Department of Justice.
Making Home Affordable plan
Learn about the Making Home Affordable plan. To date, it’s helped millions of homeowners refinance or modify their mortgages.
Home Affordable Refinance Program
Along with Fannie Mae and Freddie Mac, the Federal Housing Finance Agency has upgraded the Home Affordable Refinance Program (HARP) so that more eligible borrowers can benefit from refinancing their home mortgage. The new program enhancements include:
- Eliminating certain fees for borrowers who refinance and lowering fees for others
- Expanded appraisal guidelines with more flexibility on value and condition of property
- Eliminating the need for a new property appraisal in some cases
- Extending the HARP end-date for applications received on or before December 31, 2015, for loans with note dates on or before May 31, 2009
To learn if you’re eligible for an enhanced HARP, contact your residential loan officer.