Mortgage Relief Options for Delaware Homeowners

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Homeownership is a dream for many Americans, but it can also come with financial challenges, such as mortgage payments. Fortunately, if you’re a homeowner in Delaware struggling to make mortgage payments, there are mortgage relief options available to you. In this blog post, we’ll discuss mortgage relief options for homeowners in Delaware, including helpful government links to mortgage relief programs, how to apply for them, and tips. We’ll also discuss the consequences of foreclosure.

Mortgage Relief Options

If you’re struggling to make mortgage payments in Delaware, there are several mortgage relief options available to you:

  • Loan Modification: A loan modification is a change to the terms of your existing mortgage loan. This can include a reduction in interest rates, a change in the loan’s term, or a reduction in the monthly payment.
  • Forbearance: Forbearance is a temporary pause in mortgage payments. This can provide you with temporary relief from mortgage payments while you get back on your feet financially.
  • Refinancing: Refinancing your mortgage can help you lower your interest rate, reduce your monthly payment, or change the term of your loan.
  • Deed in Lieu of Foreclosure: A deed in lieu of foreclosure is when you voluntarily give your property to your lender in exchange for forgiveness of your mortgage debt.

Helpful Links

If you’re a homeowner in Delaware struggling to make mortgage payments, there are several government links that you may find helpful

How to Apply for Mortgage Relief

To apply for mortgage relief in Delaware, you should contact your lender or a housing counselor. A housing counselor can help you understand your options and guide you through the application process.


If you’re struggling to make mortgage payments in Delaware, here are some tips to help you:

  • Contact your lender as soon as possible: The sooner you contact your lender, the more options you will have available to you.
  • Understand your options: Take the time to research and understand the different mortgage relief options available to you.
  • Be prepared to provide documentation: To apply for mortgage relief, you will need to provide documentation of your financial situation.

Consequences of Foreclosure

If you’re unable to make mortgage payments and foreclosure occurs, there can be serious consequences, including damage to your credit score and the loss of your home. It’s important to explore mortgage relief options before foreclosure occurs.

Favor Home Solutions’ Save My Credit Program Can Help

At Favor Home Solutions, we want to help you protect your credit with a quick and easy solution! Our ‘Save My Credit’ Program takes over your mortgage payments so you can avoid foreclosure showing up on your credit report or listing your home for sale; we’ve got you covered! No fees, no gimmicks, or obligations when you give us a call. Contact us today!


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