Thompsons, TX

We Buy Houses Fast - Fort Worth TX: The unemployment rate has skyrocketed and remains bleak. Though the number of those applying for new claims has dropped a bit and those collecting unemployment checks has also been reduced, this does not account for those who have been unemployed for quite some time and have run out of benefits. It also doesn’t account for those who were self employed and lost their businesses or now have much less work than they did a few years ago.

Whatever the real number of under or unemployed Americans might be, the fact is, there are too many who can’t make ends meet. Last year the federal government designed a program that would help those who needed temporary assistance to keep up with their mortgages. Several states including Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee, and Washington DC have been given funds to provide help to some of those in need. These are the states that have been hit the hardest with foreclosures due to unemployment and medical issues.

The fund is called the Hardest Hit Fund. It is helping some of the middle class and working class families to remain in their homes regardless of their financial circumstances. There was $1.5 Billion dollars set aside specifically for this purpose. The states qualifying have seen their real estate values plummet, causing mortgages to be owed beyond what the houses are even worth.

The criteria for acceptance into the program have to do with the declining prices in the homes in a given area along with the unemployment rates also in the same area. The funds will be allocated to modify mortgages to make them more affordable, buy homes to be paid as short sales to the lenders, reduce the principal on certain home loans and with the loan rewritten for the lower amount, and some funding is available for the unemployed to assist them in making payments.

The aim of this program is to reduce the decline in neighborhoods that are experiencing large numbers of foreclosures. Foreclosures in an area tend to drive the home prices and values down even further so it acts as a sort of vicious circle. The Hardest Hit Fund monies do not need to be repaid by the recipients, so if your state is currently receiving funds and you are in need, contact the local housing authority to inquire.

Your Texas Home Buyers is a real estate investment company in Fort Worth and the surrounding suburbs of Tarrant County Texas. Your Texas Home Buyers was established by John Pribble, a ten year veteran in the investing world as well as a Real Estate Broker. Our expertise in the real estate business has been fine tuned through hundreds of transactions. We deal with houses in all price ranges, both ugly and pretty, in all areas.

Contact us today at YourTexasHomeBuyers to sell your house fast!