Homeownership Guidance, Advice and Blogs

As the Director of Affiliate Relations at HomeFree-USA, I’ve always been fascinated with how people handle their money. Like everyone else, I’ve had my financial ups and downs. In fact, it took me 32 months to pay off $32,000 in credit card bills and build up a six-month emergency fund. While that was a very difficult period, I am grateful – and wiser -- for the experience.

Through my personal experiences and working at HomeFree-USA, I’ve gained a ton of insight that I feel compelled to share. You’ll find those lessons here. Feel free to take the thoughts and ideas that resonate with you most and put aside the rest for later. I look forward to sharing my journey.

Homeowners, don’t suffer in silence: Get help with your mortgage with the CARES Act

COVID-19 has caused a lot of changes for Americans. It has affected our everyday lives in more ways than most people thought possible, and the economic impact is undeniable.

Maybe you have been temporarily dismissed or furloughed, or lost your job entirely… and now it’s been nearly a year relying on unemployment and watching your savings dwindle.

Or maybe, with everyone home all day, including college students and adult children, or with someone in your household being in a front-line role in the medical field, you’ve seen your monthly cost of living expenses (not to mention stress) go up.

Or your income has reduced, as housemates, renters, or others in your support network are unable to contribute, due to the pandemic’s impact on them.

For whatever reason, you or someone you may know, may be struggling to make their mortgage payments, and unsure what to do.

You are not alone.

Homeowners, especially people of color, have been especially hard hit by COVID in the wake of job or income loss and economic difficulty.

That’s where HomeFree-USA comes in. We help Black and Brown homeowners like you find the assistance they need to retain your homeownership through our programs.

One of the ways we do this is by keeping you up-to-date with all of the assistance available to you. One option is the CARES Act, a bill passed earlier this year.

What exactly is the CARES Act?

The Coronavirus Aid, Relief, and Economic Security Act – or CARES Act – allows affected borrowers with federally backed mortgages to request a payment reprieve of up to 12 months. These include FHA, VA, USDA, Fannie Mae, and Freddie Mac.

Sounds good, right? Almost too good. However, this relief program is completely true and completely free. HomeFree-USA’s goal is to help homeowners of color use programs like the CARES Act to get the extra assistance they need.

The CARES Act isn’t the only assistance out there

At HomeFree-USA, we focus on all assistance available, not just those provided by the federal government. For instance, another assistance program is provided by lenders, who’ve partnered with states to provide payment waivers for up to 90 days.

Making sure you’ve picked the correct program

There are several assistance programs out there, but it is important to pick the right one. HomeFree-USA offers Homeownership Advisors who will work with you specifically to address your unique needs.

Our advisors will work with you to make sure that your program is free from tricky loopholes and hidden repercussions.
We want you to keep your home without worry in these difficult times. That is why HomeFree-USA is hosting a series of special Q&A sessions, Understanding Your Mortgage.

This free information session gives you the platform to address your unique questions directly to lenders, hosted and facilitated by a HomeFree-USA Homeownership Advisor, and our CEO, Macia Griffin.