Kentucky Unemployment Bridge Program - $148 Milllion Dollars Available for Owensboro, KY

 

Owensboro, KY real estateUnemployed?  Taken a Pay Cut?  Don’t lose your home to foreclosure! 

 

Take advantage of the Kentucky Unemployment Bridge Loan Program (UBP).  This program is not credit score driven – so NO MINIMUM CREDIT SCORE.  The Maximum assistance is $25,000 or 12 months, whichever occurs first.  This money can be used to catch up your payments and/or make your payments. You do not have to be in arrears to qualify.

 
 

 

Participants must meet these guidelines:

 ·         The unemployment or income reduction related event must have occurred within the last 3 years prior to the date of application

 ·         Maximum amount of liens on the property cannot exceed $275,000

·         Borrower’s principal, interest, taxes and insurance (PITI) must exceed 31% of the gross monthly income, or

 ·         Borrower must experience 15% reduction in employment income.

 ·         A maximum liquid reserve is six months of PITI (EXCLUDING retirement funds)

 ·         Borrowers must sign a hardship affidavit acknowledging the reduction in income due to no fault of their own.

 ·         The servicer of the loan must be enrolled as a participating servicer.  A borrower cannot receive UBP assistance if their servicer has not enrolled as a participating servicer.  Click Here for List of Participating lenders and servicers.

 ·         This money is forgiven over 5 years.  If you sell your home prior to the end of 5 years, the amount is pro-rated.

 ·         Death of an income earner, divorce, or incarceration are not “qualifying events” for the program.

 

Call me for more info, or click here to go the website.

 

 http://www.karenpannell.com

 Facebook: facebook.com/kpannell1owensboro, ky real estate

Click Here to Search all Owensboro Area Homes

Text or Phone:  270-903-2167

Owensboro, Kentucky 42301

Comment balloon 0 commentsKaren Pannell • April 30 2012 01:27PM

Comments

Participate