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Serving Our Seniors is someone to call when you need help.
419-624-1856 800-564-1856
REVERSE MORTGAGES
Adjustable Rate Equity line can go up
Nowmay be the time to never pay
another mortgage payment again.
CUMMINGS
MORTGAGE
SERVICE
419-625-1894
2609 Columbus Ave
Sandusky, OH 44870
FREE CONSULTATION
MB#800000.000
The passing of a spouse is never easy.
Beyond the emotional issues are financial
concerns. For example, it is not unusual
for the household income to be sliced in
half if the sole source of income for the
couple was their monthly Social Security
retirement income or disability benefits.
Unfortunately, household expenses decrease very little
after the death of a spouse, yet household income may be
drastically less. Normally, the first reaction of the surviving
spouse is that he or she will have to move out of the home
because the mortgage payment is no longer affordable.
Depending on the circumstances,
this assumption may
be wrong
. There is a federal government mortgage relief
program known as HAMP. It stands for Home Affordable
Modification Program. This may be the answer for the
surviving spouse to afford the mortgage, despite the loss
of household income. For those who qualify, HAMP lowers
the mortgage payment according to the household income.
In other words,
the lower the income, the lower the
payment.
In many cases, the reduction is significant.
On January 20, 2016 from 10 am – 12:00, at the Erie Co.
Office Building, downtown Sandusky, Serving Our Seniors
is holding a forum entitled,
“Understanding HAMP to
Afford Your Mortgage in Later Life”
. The speaker will
be Dan McGookey, Attorney-At-Law, who focuses on
foreclosure defense. Sue Daugherty, Director of Serving
Our Seniors will facilitate dialogue between the speaker
and the audience.
25 people or more are needed to justify the time of the
speaker. RSVPs are required by January 18, 2016. See the
Calendar of Events
(pg 4) for details to reserve your seat.
Dan McGookey will perform a free HAMP analysis, by
appointment. For more information call Dan McGookey at
419-502-7223 or visit
HAMP: HELP TO AFFORD YOUR MORTGAGE IN LATER LIFE
By Daniel McGookey & Sue Daugherty
Daniel
McGookey
