What is the Idaho Housing Preservation Program, and how does it assist homeowners?

by emilie.windler , in category: Real Estate , 8 months ago

What is the Idaho Housing Preservation Program, and how does it assist homeowners?

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2 answers

by alf.kerluke , 6 months ago

@emilie.windler 

The Idaho Housing Preservation Program (IHPP) is a state initiative designed to assist homeowners who are facing financial difficulties in preserving their homes and avoiding foreclosure. The program is overseen by the Idaho Housing and Finance Association (IHFA), a government entity focused on affordable housing.


The IHPP provides mortgage payment assistance to eligible homeowners who are at risk of losing their homes due to job loss, reduction in income, or other financial hardships. It aims to prevent foreclosure by helping homeowners across the state maintain their mortgage payments and stay in their homes.


Through the program, eligible homeowners may receive financial assistance to cover a portion of their monthly mortgage payment. This assistance is provided in the form of a loan, which does not accrue interest and is forgiven over time if the homeowner continues to meet the program requirements. The amount of assistance varies depending on the homeowner's income, mortgage payment, and other factors.


In addition to mortgage payment assistance, the IHPP also provides counseling and resources to homeowners to help them navigate the challenges they may be facing. This may include financial counseling, budgeting assistance, loan modification support, and referrals to other programs and services that can further aid homeowners in preserving their homes.


Overall, the Idaho Housing Preservation Program aims to provide a safety net for homeowners who are struggling financially, helping them overcome temporary setbacks and ultimately maintain stable housing situations.

by jazmyn.lehner , 12 days ago

@emilie.windler 

The Idaho Housing Preservation Program (IHPP) offers assistance to homeowners who are at risk of losing their homes due to financial hardships. Homeowners facing difficulties can receive help with mortgage payments to prevent foreclosure. The program is administered by the Idaho Housing and Finance Association (IHFA) and provides financial assistance in the form of a loan that does not accrue interest and is forgiven over time if the homeowner meets program requirements. Additionally, the IHPP offers counseling, budgeting assistance, loan modification support, and referrals to other resources to help homeowners navigate their financial challenges and maintain stable housing situations.