Would the housing rescue bill help me even if i am not in foreclosure?

Question

I tried to talk to the mortgage people for months about me struggling to pay my mortgage., they didnt care. They said they wouldn't be able to help me, I've asked if there anything that could be done to lower my mortgage. They said no.

I called a second time months later to tell them i cant make the payment, and I didnt want to loose my house, i didnt want it foreclosure, ( that was around the time the news were talking about mortgage company where helping people lower their monthly payments) What they told me was, we need proof you cant pay it., the only way we can help if you dont pay for several

months, then we can start working on something. In the meantime they didnt do anything. So now i havent paid for 3 months., I told them my sister is moving in and helping with the payment, so they asked for signatures and fill out a form and its going to take another 2 or 3 months process. Will this rescue bill help me, or is the company not helping how they should?

Tele # for H-rescue B

Answer 1

I am not sure if it will help you, the best bet is to talk to someone who would know (either your current bank or another one). We are in a similar situation with a house we are co-buying with my husbands cousin. I was planning on asking someone what this bill could mean for us too. The bank that we currently have the loan through also said they can't help us unless we pay late or not at all. But my husbands cousin is reluctant to do that because it will effect his credit (the house is only in his name). However, my husband and I can no longer pay the amount we were once paying (its over the suggested 30% that one should pay for housing expenses), since I found out I am pregnant and cannot get government insurance. Meaning my husband and I have to pay for my insurance and any co-pays and out of pocket expenses, which means we had to cut down our house payment allotment. My husband has alway worked a lot of hour and second jobs to make this house work, but now we need any money we can to make sure our medical bills will be paid. The way I see it, my health is more important than this house. I love this house very much, but if we lose it, then there is nothing I can do. It is getting to the point that if we do end up with a way to keep the house, it will take, from what I have read, about 5 or more years to re-coup any equity in our house. Meaning we have to stay living with my husband's cousin and his gf (who is not very nice about things here...constantly moving my stuff etc...) for more time than any of us want to, and not just a year...about 5 years!!! I hope there is a way around all of this, but so far everything is pointing to foreclosure from my view. Sorry if this was long, basically I would ask someone what this bill could mean for you, if anything.

Answer 2

From what you are saying it sounds like the Housing Rescue Bill is for you.  Here is a link to a website that talks about eligibility for it and how to apply.  

I am hoping it can help me as well.  Good luck!!