I need help paying my mortgage; husband had a stroke

answered 2015-06-11 15:09:12 -0700

Corey
151 ●1 ●3

updated 2015-06-19 16:45:49 -0700

Grant
1 ●1 ●5

Hi Diana, sounds tough. There are several resources I would recommend you take a look at:

- the first is the Home Affordability program called HARP --- you may have seen it in lots of ads lately. If you are paying an interest rate up above about 4%, a HARP refinancing loan could lower that rate quite a bit and save you some cash each month. Take a look at a good review of the HARP program here to see if you might qualify. (note: it doesn't matter if your mortgage is greater than the value of your home, and you usually don't have to get an appraisal. (Seriously -- it's a government program! But it ends later this year so look into it soon)

- there is a great government website called disability.gov. It is updated daily with current information about aid and services to support the disabled. You might be able to find some transportation assistance to get your husband to and from doctors' appointments and therapy sessions. You might also be able to get some valuable counseling about how to stay in your  home. Read about disability.gov and how best to use it.

- you may also have heard of reverse mortgages. These are not for everyone but if you have built up a fair amount of equity in your home you might be able to get one of these mortgages. They're called "reverse" mortgages because instead of you paying down your balance, your bank pays you each month (or you can take a lump sum). The money does not have to be paid back until you move or sell your home. Be sure that before you look into this option you read this review of reverse mortgages so you are aware of the pros and cons.

Hope this helps!