Mortgage Assistance for Single Mothers

March 24, 2011 By admin Leave a Comment

So you are divorced or are a single mom who had it all together until the downsizing in your department rendered you jobless. Such is the story of thousands of women all over the country. In danger of loosing homes they fought hard to get in the first place. You feel all is lost and you have no where to turn. This article will help you explore possibilities for Mortgage help that just might save the family farm so to speak.

At http://singlemotherhelp.org/s you will find links to various resources for single mothers including articles and tips on financial problems. It is well documented that getting a loan foe a home is a lot harder when you are a single mother. Heck it is harder for women in general. It is good to know that you can click on a link and find advice that could help you overcome the natural barriers to your dreams.

If you already own a home and are in danger of loosing it because your mortgage payment is behind or will be you can go to http://usmortgagerelief.org/is a site dedicated to helping you to find ways to relieve the stress and insecurities in your life. They explore the options with you, even offering a toll free number for live consultations.

 

THE FHA LOAN PROGRAM

This is a most unique and effective tool that van be used to obtain a loan for any need. if you need a FHA loan to consolidate bills, Refinance an existing home loan or become a first time home buyer you would do well to discuss this with the folks at http://www.lifestyle-mortgage.com/fha/single-parent.shtml they are dedicated to helping single mothers’ find financial solutions. The FHA program has several advantages for the single parent one of them is that there are compensating factors that just might help you to get some bad credit items “forgiven” by the loan underwriters. Then there is the fact that qualifying for this loan is a lot easier than most other loans. The flexible debt ratios is one of the reasons for this. That is why the FHA home loan is ideal for a single mother in mortgage trouble. It also has some really neat additions that can lower the rates and front end cost to the prospective buyer. One is the inception and inclusion of gifts from family members. They give you credit for any monetary gifts toward home ownership you receive from relatives. This company will help you to locate local grant programs that award money to single mothers for the purpose of home ownership. Finally the Federal Government regulates the closing costs on these loans. This means there is a maximum you can be charged.

The availability of this loan is perfect not only for a first time buyer but also the single mother who has owned her home for a time and are finding themselves in financial straits.

 

Mortgage companies look at the total assets and liabilities of the family applying for the loan. If you got the mortgage as a part of a unit and are not struggling to make the payments because of a death or divorce you can always talk to the loan officer and attempt to renegotiate the payments and schedule. When a spouse leaves that decreases the total of the assets and the liabilities most often stay the same and in some cases increase. This is when you have to first reassess you liabilities. It helps your case as a single mother to go into the negotiation with a budget and a reasonable repayment offer.

 

BUDGETING

To be fair you will have to make a budget.  And if you are not sure how to accomplish this you can click on this link http://www.bankrate.com/finance/money-guides/free-household-budgeting-work-sheet.aspx or http://www.dirjournal.com/shopping-journal/5-useful-free-online-budgeting-tools/ you will be redirected to sites that offer free budgeting tools and samples of how to prepare your budget. The first step to any budget is to find out how much you are actually spending and what you are spending it on. For one month keep track of all your spending. Even if you buy lunch at work write it down. At the end of this month go over what you spent. You are looking for superfluous expenditures. Some things could be left out of the liability column. Doing this will give you more of your income to devote to your needs.

 

Do not expect that the cutbacks will go over big at first you may have to go from a cable package that has all the movie channels to basic cable. Regulate the time spent on the Internet. Cut back on electrical consumption. This type of thing works better with younger children teens tend to take it a lot harder. Especially since the cell phone usage is one of the first things to need adjustments. You may also have to come to grips with the fact that the house may no longer be affordable for you. Selling and moving to a smaller home in a more economical neighborhood may be your only option.

 

Most budgets look a something like this. Shelter 33%, auto 15%, food 20% by now you are already almost in the red. If you have childcare cost and insurance you may have nothing left for clothing, entertainment and the other small items important to running a household.

 

You Are Not Alone

The national statistics state that at least 35% of households in the United States are Single parent homes. 40% of the homes that are headed by single mother are at or below poverty level. The single mother with incomes that are above the poverty level are finding it just as hard to maintain in these economic times. The prices are constantly going up faster than the incomes. Most single mothers do not care if the help comes from government assistance or donations form private organizations and individuals. All they care about is that they get to keep or buy their homes.

 

HUD – the Department of Housing and Development is a great resource for would be homeowners and single mother mortgage holders alike. They offer a lot of free help in all financial areas. You can contact them at http://portal.hud.gov/portal/page/portal/HUD. If you qualify for their loan guarantee program you may find it easier to get that loan you need.

 

The HOME program – This is a program that assist new home owners with funds for their down payment. You must meet the income criteria as well as being a single mom.

 

Habitat – Habitat for Humanities is an excellent option for single mothers who are trying to get a home. Follow the link to find the offices nearest you. http://www.habitat.org/cd/local/

 

States usually have assistance programs specifically for their residents you should look into this aspect as well. you may also want to speak with a person that writes grants for a living. They have the inside scoop on what grants may be available and some of them will even work for noting as a gift to the neediest applicants. Grants.gov may not have any money to lend but they can point you in the right direction.

 

If you are having mortgage trouble you may also want to speak with someone at http://www.fairhomeloan.org/, they can assist you by helping you to be certain that the actions being taken against you are legal. With the recent “RoboLoan” scandal it might be to your best interest to investigate any action of a foreclosing nature brought against you.

The Homeowner Affordability and Stability Plan offer help in a couple of areas. Single mothers can find assistance here if their initial loans were through the government Fannie Mae or Freddie Mac programs. President Obama introduced this refinancing initiative in 2009.
HOPENOW – This is an organization that is designed to match homeowners with others who might have a vested interest in keeping a single mother in her home. They act as a go between or mediator. Though not a solid financial solution it is a way to keep you in your home while you search for another way.

 

Mortgage Insurer – The insurance company has a vested interest in keeping you in the home. If you have no home they get no premiums it as simple as that. They offer counseling and other services to homeowners it is worth a try.

 

There is always other loan modification programs on the horizon. These can allow homeowners breathing room for at least the next five or so years. One thing you should do is keep the lines of communication open between you and the mortgage holder. Read all incoming mail from them and talk with them about your situation openly and honestly. It does them more harm than good to actually foreclose on a home. Most often they are willing to work out a mutually beneficial agreement with you. Seeing them as the enemy will ultimately be a downfall. Keeping them on your side and in the battle with you can work out better in the long run.

 

CONCLUSION

Hard times can happen to anyone at anytime. Even if you failed to plan for them initially it may not be too late to salvage your situation. Single mothers have it worse than most but with a little effort you can find those willing and able to assist you with your mortgage. It will take effort on your part and extreme patience but it can be done. When you decide to make a search keep accurate records pertaining to who you spoke with, sites you visited and the outcome of each. This will help you narrow down the field of prospect in an orderly manner. Hey, you could even start a blog about your searcch and include that information. There are others doing the same search and your information could be helpful to them. This could also turn into a money making venture. You could use the blog for affiliate marketing and actually earn the extra income you need to save your home.

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Employment Advice for Single Mothers

February 19, 2011 By admin Leave a Comment

Can you relate to this situation? You’re a single mother; you’re working full-time for a company when a domestic crisis hits. Suddenly your work hours can be potentially effected due to your family commitments. Believe it or not this happens everyday, some single mothers gaining the understanding of their employers while others endure severe financial loss. Ever wonder what you are entitled to? Ever wonder what steps you can take to protect yourself. In this article we will attempt to offer some Employment advice for single mothers.

Both single and working mothers make up a large segment of the work force and employment tribunals tend to look rather unfavorable on employers that choose to make their lives difficult. That said most of us would rather settle the problem amicably before having to have the problem taken over by the legal system. The best place to start is within your own company. Check out their own policies regarding work hours reduction, flexi-time, compassionate leave and so forth. The best employment advice for single mothers might be right there at your fingertips. It may seem like a simple solution to a complex problem but there are numerous examples of companies behaving in direct violation of their own polices.

If the issue cannot be resolved within the company’s own rules and procedures then another possibility is to consult your union representative. Becoming a member of a union may seem like an added cost but when you need legal advice on employment law they are highly beneficial. Simply contact your representative, put your situation in writing and listen to whatever advice they have to offer you. Unions in many cases will cover your legal costs should your situation end up in the courts. They can also offer you liability protection should things start to get ugly.

Many seeking employment advice for single mothers want to know the specifics, under the law of what they are entitled to. This can be difficult being that laws can differ from state to state and region to region. However, in general you are entitled to time off for domestic emergencies, especially if child care is involved. Keep in mind that this is a short term solution. Companies are not expected to offer this for an indefinite period of time. You also have to keep in mind that payment will vary. There are no laws protecting your salary if you take time off for this reason. It is the company’s decision whether or not they pay you. The company will likely be in violation of the law if they dismiss you for this reason.

Another piece of employment advice for single mothers is to always try to settle things amicably with your employer. Depending on where you live, if they are making your life difficult and are being child unfriendly, you may be entitled to protection under the sexual discrimination act. Write to your employer outlining your request, be it time of or a temporary reduction of work hours. Emphasize the point hat you wish to settle this in a friendly manner and would rather not take legal advice or seek a decision by the courts. This will present you in a very calm professional manner as well as put your employer on notice that you are aware of certain rights you have.

A final piece of employment advice for single mothers on the subject of physical health. These situations can be very stressful, to the point that physical symptoms can start to show. Should this happen make sure you see your doctor. If they deem it necessary for you to have time off due to stress, your employer can do noting.

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Financial Aid for Single Moms

February 19, 2011 By admin Leave a Comment

You should seek out the readily available grant money that you are eligible for. A single mother is frequently subject to enormous financial strain. In addition to the responsibility of caring for your children, other basic essentials need to be provided for a single mom’s family. The responsibility of nurturing and entertaining children at a young age will always involve additional expenses. Financial Aid for Single Mom grant awards will greatly help the situation.

Since the early years of a child’s life is very important as far as early development is concerned, it is critical that a mother is able to provide the necessary support. We will take a look at the Financial Aid for Single Mom programs that are available to assist a single mom. Grant awards are currently distributed by a total of about 20 agencies, and the process of getting a grant may be difficult for some people.

You should know that government is taking a special interest in seeing that awards are made available to everyone who is eligible to receive them. An effective way to go back to school would be with a Pell grant. This grant will benefit you in returning to school, and your children will not directly benefit from it. The amount you receive is much smaller than most grants and usually is only enough to cover tuition for an academic year.

To qualify for such grants you will have to be classified a low income family and you will have to provide proof of such when you complete you application. Pell grants are indeed enough for you to go back to school and receive higher education – that is in fact its main benefit. By increasing your education, you will be considered a better qualified employee candidate and will be able to get a better job and command a higher salary. All this because of assistance made available through Financial Aid for Single Mom.

In this way your financial worries of the past will soon be forgotten. As a single mother you may also be eligible for medical grant. Government provides these grants for people in low income bracket to receive medical care. Access to such a grant will greatly help the single mom since the alternative, medical insurance, will be prohibitively expensive. You will not have to face medical bills again.

For the single mom, her personal finances will always be a great concern. That cannot be avoided. Financial Aid for Single Mom money is readily available to her. The key is to do the research and search out those grants that will meet your needs, and you can easily change your financial situation. It is all in your hands to create the future you want for you and your child. You can achieve this by taking advantage of programs offering Financial Aid for Single Mom.

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Financial Assistance for Single Parents

February 19, 2011 By admin Leave a Comment

Without the knowledge that Financial Aid for Single Parents exist, there are many single parent families that struggle unnecessarily trying to make ends meet. Without a second income it becomes very hard for a single parent to support her family. You do not have the additional help a second parent in the family will provide. You attend to all daily family issues yourself without help.

You attend to all family chores, work to support the family financially, and take care of the children by yourself. There are times when you are not able to complete the daily chores in a particular day. Financial Aid for Single Parents provides scholarships and grant for single parents like you.
You only have to look in the right places. We will look further in this article at the government grants available to single parents. Using a number of agencies, the Financial Aid for Single Parents programs is able to provide grants and other benefits to people of modest means.

A large number of grants are available through Financial Aid for Single Parents program and you should be eligible for some of those. Some of those will be children’s health insurance, food stamps, home mortgage, housing assistance, home rental assistance, food stamps and nutritional assistance, school lunch and breakfast to name a few.

You will follow up with the respective agencies to inquire about the specific eligibility requirements for the programs you are interested in. Eligibility requirements for the Financial Aid for Single Parents programs vary from state to state. For example, children’s health insurance program usually state that the family’s annual income cannot exceed $44,500.

If your family is eligible, your children will receive low-cost or free health insurance, dental care, doctor’s visits are covered as well as prescription medication and hospitalization. The Food and Nutrition Service maintains the nutrition assistance programs.

The aims of these programs are to provide access to food to less fortunate families. Single parents are able to pay low down payment on homes through the assistance of the Federal Administration loan guarantees, help in refinancing mortgages, and assistance in finding the best mortgages is also provided. Single mothers are provided with affordable rental housing through the rental assistance program. The housing provided are through voucher programs, public housing, and privately owned subsidized housing.

With the voucher program, you will find a place to live and the voucher will cover part or all of your rent. Knowing of this financial assistance for single parents available is invaluable, but you will have to know that it is there for you and how to get access. It will take some of the stress from your life and improve your life tremendously.

Financial Aid for Single Parents will give you the chance to advance your life and career also. In this way you will be able to properly support your family.

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Financial Help for Single Mothers

February 19, 2011 By admin Leave a Comment

The question of getting baby sitters for their children is a challenge many face. The biggest challenge they face is the cost of books, fees and tuition that has to be paid. Financial Help for Single Mothers is the good news that these mothers have now available to them. Financial Help for Single Mothers programs, and others available to mothers who are not single, have recently been made available to all mothers by President Barrack Obama.
The drive behind the Financial Help for Single Mothers program is intended to further educate as many people as possible so as to bolster the lagging economy. It will take a little more time for the country to fully recover from this economic recession even though there are encouraging signs that things are getting better. People who are better educated statistically have greater success and employment stability even in times of bad economic times.

Traditionally, the American mother has been the most neglected segment of society, so the president’s plan to support higher education of the single mother, and all other mothers, with Financial Help for Single Mothers programs, comes as very good news. The plan is made of many parts. The most welcome aspect of the plan is a grant that enables mothers to further their education.

With this grant, women have the choice of attending either accredited online degree programs or traditional college classroom instruction. Single mothers will be especially helped by the funding for online instructions, since this will eliminate the need for child care while they are in school. They are able to work at their studies around the schedule of their children. A single mother can get up to $10,000 scholarship funding to complete her education under the Financial Help for Single Mothers programs.

This educational help is also available to men. Pell grant are also available to assist in educational expenses. The amount of the grant has been increased to $5100 from $4050. It is expected that there will be a further increase by the end of 2009. Aimed at helping those from the poorer, socio-economic level, the Pell grant has opened the doors for many people to further their education without having to apply for loans that can leave students in great debt.

A student is not required to repay the Pell grant. The government has also created a tax credit that seeks to compensate the student for the expenses of childcare, books, travel and others associated with attending school.

As much as $4000 of federal income taxes can be exempt annually by those attending school. Even in this economic recession there is still not enough assistance for a single mother who desires to return to school. If she combines the available tax credits with government grants, single mothers, whether they are working or are stay at home mothers, can find the necessary funding to go back to school.

It has now become a lot easier for the single mother to complete her education with the assistance of Financial Help for Single Mothers programs. This task until very recently seemed almost impossible.

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