The mortgage lender sent a Notice of Seizure or filed a Notice of Foreclosure. Is the owner still eligible for a Road Home grant?
A Notice of Seizure or Notice of Foreclosure from the lender means that the lender intends to seize title to the property if the owners do not contact the lender and make arrangements to pay the back mortgage payments. As long as the property is still owned by the applicant and/or co-applicant at the time of the storm, they are eligible for The Road Home program. However, if the applicant closes on The Road Home funds and the lender still forecloses after the receipt of Road Home funds, the recipient(s) of The Road Home funds must repay the entire Road Home grant back to the State.
Related Questions
- The mortgage lender sent a Notice of Seizure or filed a Notice of Foreclosure. Is the owner still eligible for a Road Home grant?
- May a qualified lender modify a distressed loan notice when it is being sent to a borrower(s) who has filed bankruptcy?
- The mortgage lender foreclosed on the property. Is the applicant or co-applicant still eligible for a Road Home grant?
