Another federal program is being made available to help homeowners who are in trouble. There are some stipulations, but nothing you can't handle if you have lost at least 15% of your income due to loss of job or due to illness.
Oh yes, you have to be at least 3 months behind on your mortgage and have received a "F" notice.
Our suggestion, is, if you are NOT three months behind on your mortgage, you can "become" three months behind, but put the money aside, just in case you DON"T get help from the Feds. You know how to work it.
Just remember if you put money into a bank account and then you later withdraw it and the amount is over $5000, the IRS will be notified of the transaction. Since you are not trying to hide anything from Uncle Sam, this shouldn't matter to you. If the IRS ask, just tell them, it was the money for your mortgage payment times three.
Blog Flux
About Me
- YouTube Channel
- I am a telecommunications engineer by trade, graduated DeVry - Chicago Campus, and worked WNUS-Chicago, KPIX San Francisco, Hewlett Packard and United Airlines - SFO. Born and raised in the San Francisco Bay Area. Lived in Europe, Africa for a short time, Mexico and South America. Early Childhood Education was my second career and my most rewarding. From vocational instructor at the college level to my own private preschool and kindergarten, this is the career that touched my heart. And now, even though I am retired and traveling the world, I still find the need to provide value for young children around the globe. I am the author of Travel the World on Social Security and several short fictional reads in the Kindle Store. My favorite Kindle eBooks are the series of educational books for kids ages 3 to 9 years of age. I have included each of the topics necessary for a young child to do well in Kindergarten. My eBooks are best viewed on a large-screen TV. The pages come to life, and children enjoy the enormous size of viewing their eBook on the big screen.