Upside Down Mortgage

Posts Tagged ‘urban development’

I have a 1 yr. lease on a fairly new home with 2 other people on the lease with me. We are in the 8th month now and we all have plans to end it after the year is up.

Last week, and just today, we received in the mail a notice titled “Notice of HUD Rights” from a company called National Foreclosure Relief based in NV (addressed to the landlord/homeowner). At first, I thought this was some type of solicitation and threw the first one away. It states that the notice is not an attempt to collect a debt but that the time to enter into a repayment plan is running out.

On the back is states:
“As of Jan. 19, 2001, the US. Department of Urban Development mandated that all borrowers who had loans governed by their loss mitigation guidelines be informed as to their rights to repayment programs.”…

The Homeowners have other properties they manage/lease aside from working in separate professions. I am almost certain that if a foreclosure is of concern then they would know about it.

My question is that if there is a foreclosure, do they have to give us a month notice or can they simply tell us to leave at any time? The agency would not tell me anything but instead tried to get me to go to a website and pay 29.95 to get information from ‘legal experts’ who could tell me what my options were. It all sounds like a gimmick to me. Can anyone clarify this for us?

Also, my question is do we have a right to know if there is a foreclosure, and do they have to give us a month notice or can they simply tell us to leave at any time? The agency would not tell me anything but instead tried to get me to go to a website and pay 29.95 to get information from ‘legal experts’ who could tell me what my options were. It all sounds like a gimmick to me. Can anyone clarify this for us? Thank you

Thanks in advance.

What is the US Department of Housing and Urban Development?

Fair housing is an important part of the federal laws and there has to be a federal department that makes sure that landlords or lenders comply with the laws. If you have a problem with mortgage companies or you think that you are being unfairly discriminated, then the US Department of Housing and Urban Development may be able to help you. Some people have never heard of this department of the government because they have not been or are not aware that they have been treated unfairly. Sometimes, they do not know what to do.

Enforcer of the Fair Housing Act

The Department of Housing and Urban Development enforces the Fair Housing Act and other federal laws that prohibit:

• discrimination and
• the intimidation of people in thier homes.

Fair housing is about equally access to rental housing and homeownership opportunities. That means, the law helps renters as well as homebuyers. It is illegal and in violation of federal laws for landlords to refuse to rent or sell homes to someone based on:

• race,
• color,
• nation origin,
• religion,
• sex,
• familial status or
• disability

Housing discrimination is illegal and the Dept of Housing and Urban Development will ensure fair housing for anyone seeking a place to live. Many homeowners with upside down mortgages were discriminated in ways that violate the Fair Housing Act.