Information about Foreclosure Program 3648
This is an information site about H.R. 3648. The program is no longer active.
The federal government enacted H.R. 3648, the Mortgage Forgiveness Debt Relief Act, to help stem the tide of foreclosures by removing the tax burden resulting from debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with short sales. H.R. 3648 has been extended through 2012 under The Emergency Economic Stabilization Act, H.R. 1424. The Obama Administration has continued to pursue the foreclosure problem with the Financial Stability Plan that helps homeowners and lenders find solutions and alternatives to foreclosure.
Foreclosure Program 3648 is a privately sponsored nation-wide initiative to reach out to homeowners who are struggling with their mortgage payments and provide them with the information, guidance, and actual work that is required to avoid foreclosure. Certified Foreclosure Program 3648 Specialists volunteer their time to assist as many homeowners as possible and all services provided by Foreclosure Program 3648 are always free for every homeowner.
Qualifying for the Program
Prospective applicants were asked several question to determine what programs were available to help avoid foreclosure and how they may be able to benefit from the program. These questions included:
- Is the mortgage you are having problems with your primary residence?
- Have you missed any mortgage payments?
- Do you anticipate having difficulties making your mortgage payments moving forward?
- Do you believe that the amount you owe on your mortgage(s) is greater than the current value of your home?
- Have you received a foreclosure notice (Notice of Default or Lis Pendens) from your lender?
- Are you considering or currently in bankruptcy?
- Have you attempted to work with your mortgage company to resolve your situation?
- Have you attempted to refinance or modify your loan and been denied?