Partial Claim

A partial claim is a one time payment from the FHA Insurance Fund. Currently you must have an FHA loan in order to file for a “Partial Claim”.

Several congressional leaders have proposals and bills before congress to expand the use of the FHA insurance fund to apply to current conventional mortgages. To obtain the latest news on bills before congress affecting conventional mortgages please sign up and open a case today. We will email you information on any new laws, bills and developments.

If you have an FHA loan and can afford your current payments but not your delinquent payments, late charges and legal fees you really need contact us or your lender to obtain all the qualifying requirements.

You may qualify if your delinquent loan is:

1. At least three to 12 months delinquent.
2. You are able to make your monthly PITI payments.
3. The hardship which caused the problem has been resolved.
4. The property is your primary residence.
5. If you are in a Chapter 13 bankruptcy you may still qualify but we will need to obtain court approval as well as lender approval.

Once approved you will be required to sign an interest free note which will become due when you sell your home.