Important Information For All
Recently a member here at GOMS appeared to be between a rock and a hard place. As result they may have been under pressure do take action that not only could effect them but their neighbors as well in leasing.
We have seen stories here where people under pressure have excepted boiler plate leases in many threads here at GOMS. Some tell of the elderly, some that have had medical bills.
We probably know someone, a relative, a neighbor that has fallen upon hard times due to health, unemployment or other causes. So is there anything you can do to help them? YES!
We have all heard of scams and the like but what you see here is not a scam and cost you nothing as well as to those that except the help. It is a government program designed to assist a home owner (even a mobile home/ double wide in some cases) to help them keep their home.
The program can make monthly payments upon a persons mortgage, pay back property taxes and can even pay off the mortgage up to a total benefit of $35,000. Only catch is you must stay in the property for 5 years as they secure a lien on your property. After that 5 years you own them nothing, you pay no taxes on the money no payments (Only if bail out before the 5 years then it is based upon the time 2.5 years you bail you own them half pretty simple.
Here are the state government web site for my detail.
Pa http://www.phfa.org/consumers/homeowners/hemap.aspx
Oh http://www.savethedream.ohio.gov/
Right off hand I did not find the WV program but they have one.
Emergency Homeowner's Loan Program
West Virginia is one of 32 states participating in the HUD Emergency Homeowner's Loan Program. Homeowners who are unemployed or suffer a financial hardship can receive a loan of up to $50,000 to cover mortgage payments or pay the past-due balance. The loan is interest-free, with a balance that declines by 20 percent for each year of timely mortgage payments. After five years, the loan is forgiven. Contact your West Virginia lender to apply for the program.
I'd rather lease to my terms than under duress.
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Replies to This Discussion
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Permalink Reply by 0ym9x5ag7ury2 on
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Billy,
A landowner in PA with a medical problem that was draining his funds posed a question of where he should sell his minerals. After some suggestions, he found a relative who knew what the O&G was going to be worth and partnered with him to pay his bills for a percentage of the minerals by placing him on the deed as a percent owner. Making a relative rich for giving you assistance in your time of need sounds like a good option to take over making a stranger rich by selling him your minerals for little to nothing.
Even a friend would be a good candidate for this type of partnering. There are a lot of people looking for a good investment in todays economy where the banks pay no interest forcing people to gamble on Wall Street. We all know who the winners are on Wall Street.
Some people are suspicious of government programs helping you out then wanting the farm. My old farmer freind in PA always said don't trust the government, they will own your farm eventually. I figure he had examples to prove what he was saying, so I personally only interact with the government when its time to send them their ENTITLEMENTS in the form of taxes that they have gotten so use to spending and have forgotten who is really on the receiving end of the entitlements they like to talk about so much. By the way social security doesn't fit the definition of entitlement since we pay into it.
Ron
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