Home Rescue Foundation

(Your shopping cart contains 1 item priced at $49.95) View My Cart

Search
You are here: Home > FHA Partial Claim
Stop Foreclosure by applying FHA Partial Claim

FHA Partial Claim DefinitionFederal Housing Authority (FHA) Partial Claim is an interest-free second mortgage through Housing And Development (HUD), to assist the borrower reinstate a first mortgage that is in default.

Stop Foreclosure with FHA Partial ClaimAny one with a FHA mortgage can apply for HUD's assistance. Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI [principle, interest, taxes and insurance).

FHA Partial Claim Documents To complete the FHA Partial Claim the mortgagor will execute a promissory note and subordinate mortgage payable to HUD.

FHA Partial Claim DeadlineThe mortgagee shall lose the incentive payment when loss mitigation claims are not submitted within 60 days of the date the partial claim subordinate lien is executed, or where the partial claim security documents are not forwarded timely.

FHA Partial Claim AdviceThe mortgagor, upon acceptance of the advance, will execute a promissory note & subordinate mortgage payable to HUD. Currently, these promissory or partial claim notes carry no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property. Following reinstatement, the mortgagee will file a partial claim for the amount of the advance plus the mortgagee's incentive fee, and forward a copy of the recorded documents to HUD. A contractor retained by HUD will service the partial claim notes.

FHA Partial Claim Chance of SuccessFHA mortgage holders may qualify for a partial claim if their loan payments are more than 4 months,but no more than 12 months, overdue, and they have the proven financial stability to begin meeting their payments.

FHA Partial Claim HelpHome Rescue Foundation can help you perform a thorough assessment of your personal finances and help you determine if the FHA Partial Claim is the only option left. Upon analyzing your lender's loss mitigation policy and reviewing your situation, our Loan Modification Specialist will help you generate the proof the materials you need to present to HUD.

FHA Partial Claim AlternativesThe FHA Partial Claim is a last resort. They are typically approved when all other Loss Mitigation options have failed and the reason for you financial set back has passed.

FHA Partial Claim WarningPartial Claim cannot be used to bring the loan current for sale or assumption. Partial Claim cannot be used in conjunction with a Loan Modification.

FHA Partial Claim ResourcesAdditional Resources and Documentation:
HUD FAQs for Partial Claims

Legal Disclaimer: This information on this site is NOT legal advice. You should consult with your attorney prior to signing anything.
Sort By:
Page of 1  
Stop Foreclosure with a FHA Partial Claim eBook
Our Price: $49.95

Pre-Order - Step by step guide to successfully implement a FHA Partial Claim.
   
 
FONT size=4>What's your next step?

Completing the form below will help us identify all  the options available to you. If you want to stay in the home, we will help you review such things as; current home value, recent hardships and financial status. This information will enable you to explore different ways to stop foreclosure including a loan reinstatement, a special forbearance agreement, home refinance loan and mortgage loan modifications. You may be fortunate enough to qualify for a VA Loan Refunding or FHA Partial Claim.

Others may need to seek Alternative Funding, Rent out or Sell the property. If the property is worth less than what is owed you can do a Short Sale. In all else fails you can do a Deed in lieu of Foreclosure or seek Bankruptcy protection.


Which option is best for you?
Ask an H.R.F. Specialist
by giving us some basic information.
Financial Information
Do you want to stay in the home?:
Employment:
Hardship Type:
Mortgage amount you can afford each month:
Mortgage Information
Lender/Service Company:
Loan Type:
Interest Type:
Other Information
Comments:
Contact Information
Name:
Daytime Phone:
Evening Phone:
Preferred Contact method:
I authorize the Home Rescue Foundation to contact me.



Please enter the following code
into the box provided:




Legal Disclaimer: This information on this site is NOT legal advice. You should consult with your attorney prior to signing anything.