MHC launches Home Saver program for jobless homeowners
by For the MBJ
Published: May 15,2011
JACKSON — The Mississippi Home Corporation (MHC) has unveiled its Home Saver program to help unemployed Mississippians bring their mortgages current and make monthly mortgage payments for up to 12 months while they look for work.
The program’s Education Option assists homeowners for up to 12 additional months if they enroll in a certificate or degree-seeking program to improve their job skills and employability. Home Saver targets individuals whose employer laid off workers or reduced hours due to the recession or disasters such as tornados or flooding that disrupt business operations.
Homeowners can begin the application process for Home Saver at www.mshomesaver.com.
Home Saver is part of the Federal Hardest Hit Fund (HHF), a program of the U.S. Department of the Treasury targeted to states with high rates of mortgage delinquency and unemployment. Seventeen states received the funds. Under Home Saver, a mortgagor whose income is less than 120 percent of the area median income and whose mortgage payment is greater than 31 percent of the gross monthly income could qualify for assistance.
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