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Rhode Island Expands Assistance Program for Homeowners Facing Foreclosures
by rudsontren on Dec 13, 2010
Rhode Island has decided to expand the coverage of the $80 million federal aid for homeowners who are facing foreclosures in the state. Distribution of the financial support started in the city of Providence on November 1. Since December 1, the state has expanded the aid to cover homeowners in the entire state.
The program is aimed at helping troubled homeowners who have been suffering from documented financial difficulties like losing income. Homeowners are required to qualify by submitting documents that prove unemployment, unforeseen medical costs, costly home repairs due to calamity, or death of a wage earner in the family.
Qualified homeowners who are facing foreclosures and who are eligible for the financial assistance are required to consult with their respective mortgage lenders. Rhode Island Housing, the agency in state dealing with housing and mortgage issues, does not accept direct applications. The homeowner could also seek a certified counselor to guide him...Read More >>
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