Homeowners who have lost their home to foreclosure may have assistance available when it comes to relocating to alternate living arrangements. Assistance for homeowners who are moving after they have lost their home is reportedly available through plans like foreclosure alternative programs which homeowners have used over the past months to help them avoid a formal foreclosure proceeding.
Homeowners who qualify for short sale or deed in lieu of foreclosure plans may find that their servicer offers monetary assistance to help with moving costs. While this may be dependent upon a homeowner’s situation and whether a successful foreclosure alternative program was completed, some foreclosure alternative programs from the Home Affordable Modification Program are said to offer homeowners the opportunity to gain assistance with relocation costs.
There are also some reports that state-specific programs, which are administered by individual state housing agencies, may also bring relocation assistance opportunities to homeowners who have recently lost their home.
Understandably, homeowners would obviously prefer to find foreclosure prevention options for their home, yet, in cases where foreclosure has been unavoidable, homeowners are being prompted to talk with their servicers or state housing agency about these relocation assistance programs, which may also stem from foreclosure alternative programs.
Homeowners who are turning to renting or alternative living arrangements after the loss of their home obviously incur a great deal of stress and financial costs as a result. However, homeowners who may qualify and seek out assistance through these relocation programs have found that while it doesn’t make up for the loss of their home, transitioning to an alternate living arrangement until they get back on their feet has been made more bearable through a combination of foreclosure alternatives and relocation assistance opportunities.