How To Get Help With A Mortgage Payment In Wisconsin
April 8, 2022 | Daniel Dewitt
Handling a mortgage payment can be difficult – especially since everything else has also gone up in price. Sometimes your financial situation will leave you needing help with mortgage payment. When that happens, there are multiple options out there to help you out. Here are five of the top methods you can look into when you need help paying your mortgage on time.
Top 5 Ways To Get Help With Your Wisconsin Mortgage Payment
1. Wisconsin Help For Homeowners (WHH)
The first option you have to get help with mortgage payment in Wisconsin is the Wisconsin Help For Homeowners program. The Wisconsin Help for Homeowners program is a statewide program that helps fund a variety of bills, including your mortgage payments, property taxes, and utility bills.
Of course, just like with any financial program, there are certain requirements you must meet. To qualify for this program you must be a homeowner in Wisconsin living in either a condo, single-family home, duplex, or a factory-built home. Your household income must also not exceed 100% of your county's median.
You also must prove you’ve been impacted financially since January 21, 2020. The program is distributed at a regional level by various agencies. So, you will need to contact your area's corresponding service if you'd like more information about the way your area does things or ask questions about your application.
2. USA Homeowner Assistance Fund
The Homeowner Assistance Fund, otherwise known as HAF, is another option to offer you help with mortgage payment. This fund is offered by the American Rescue Plan Act and it offers financial relief for the nation's most at-risk, vulnerable homeowners.
The program's primary aim? To help you avoid mortgage defaults, delinquencies, loss of utilities, foreclosures, and loss of home energy services. With that in mind, it may go without saying that you can use the money obtained from this program to get help with mortgage payment, homeowner's insurance, and utility payments.
It was created to help homeowners who suffered due to the COVID-19 pandemic. You could be eligible if you've suffered financially since January 21, 2020. You could also be eligible if your income is less than or equal to 150% of your area's median income or you're struggling with qualifiable expenses.
To receive the total amount you're eligible for, a HAF plan must be created that details your needs and distribution of funds. The Treasury provides blank template examples to make it easy for qualifying entities to complete this part of the process.
3. The US Department Of Housing And Urban Development (HUD)
Another option you have to get help with mortgage payment is to contact the US Department of Housing and Urban Development or HUD. HUD can help you with things like rental assistance, local public housing, homeownership, and rental relief resources. They operate at a local level, so it's crucial to find the public housing agency applicable to your area.
4. Ask Family And Friends
If you don't qualify for any of the programs above, you could consider asking your relatives or friends for help with mortgage payment. But, of course, money is often a tricky subject to broach with loved ones. You might feel embarrassed to ask for mortgage help or even ashamed. At the end of the day, they are the people who love you most. And it's highly unlikely they want to see you suffer.
Therefore, if they can, they probably will help you. With that noted, it's always worth agreeing on the terms in writing. Otherwise, it can cause arguments and relationship breakdowns over time. Compile a contract listing how much they gave you, when it needs to be paid back, whether there's any interest, and so forth. That way, you're both on the same page.
5. Use Title Loans
Finally, if you are still looking for emergency help with mortgage payment, you can come to Wisconsin Auto Title Loans, Inc. for title loans. A car title loan allows you to borrow up to $15,000 to help with mortgage payment, when you use your vehicle’s lien-free title as collateral.
While we use your vehicle’s lien-free title as collateral, we base how much you could get on the condition of your vehicle. This means we assess your car's condition, odometer reading, and more to determine its worth. This should only take a few minutes to determine how much you could get.
Our in-person process takes just half an hour, allowing you to find out if you’ve been approved right away. And if you are, you can receive your money on the same or the very next business day. Unlike other loans, there isn't a long list of eligibility criteria to deal with. Instead, you just need to have a driver’s license or state-issued photo ID, a lien-free title to your vehicle, and your vehicle.
You don't even need a checking account to qualify for a title loan with Wisconsin Auto Title Loans, Inc.! Plus, you can qualify even if you have poor credit. In fact, we do not report to credit agencies about your loan at all. Our process is also quick and easy; just follow these steps:
- Fill out the form on this site.
- Pick up the phone and discuss the process and let you decide where you'd like to meet with them – either at the nearest title loans store or we can come to you.
- Go to that location with the required items, as outlined above.
- Wait while the loan representative evaluates your items and inspects your vehicle to confirm the amount you qualify for and if you qualify for approval.
- If you qualify, complete some simple paperwork and typically receive the money you need within 24 to 48 hours.
Use These Methods To Pay Your Mortgage Right Now
If you find yourself needing help with mortgage payment, you have options available. Any of these five methods can help you get back on stable ground with your mortgage payments. And if you think title loans could help, fill out the online form on the Wisconsin Auto Title Loans, Inc. website and get started on our process right now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.