Foreclosure activity increased 7 percent in August from the month before and default notices surged 33 percent, as the number of Americans more than 60 days behind on their mortgage now totals almost 4 million. WUSA-TV reported on September 15, 2011, that one in 14 homeowners has fallen behind on their mortgage payments and are at risk of foreclosure in the District of Columbia.
The Federal Government’s Hardest Hit Fund allocated an additional $20 million in funding to assist eligible DC homeowners, and a new campaign is aimed at letting those facing mortgage troubles know that there is free assistance available through the Making Home Affordable Program, WUSA reported. So far, only $2 billion of the $45.6 billion in Troubled Asset Relief Program (TARP) funds allocated to help homeowners avoid foreclosure has been spent. Furthermore, more homeowners have been kicked out of the Home Affordable Modification Program (HAMP) than given permanent modifications, despite promises in 2009 to help three to four million homeowners avoid foreclosure. WUSA said only one million have been offered preliminary modifications.
If you are facing foreclosure and do not want to suffer being rejected for federal assistance, you should speak with an experienced Maryland bankruptcy attorney to get deserved relief today. Whether you need help with a bankruptcy means test or just basic bankruptcy information, the Law Firm of Kevin D. Judd can answer all of your questions about how to file bankruptcy in Washington DC or Maryland. If you are struggling through hard times, a Chapter 13 or Chapter 7 bankruptcy process can help alleviate your debt, eliminate bills and stop foreclosure.
Law Firm of Kevin D. Judd – Washington DC bankruptcy lawyer