Owning a home is almost everybody's dream. Most people take mortgage loans to buy their homes. The concept of mortgage is such that it is usually given against some security and the loan amount needs to be paid out in installments over the years. A mortgage loan is taken not only to buy a new home but also to avoid foreclosure. However, many a times the mortgagee in unable to meet payment or afford the mortgage and hence they end up losing the house or they may never be able to own one at all. To reduce this problem in the state of Indiana, there are state sponsored programs. The Indiana Mortgage Help provides guidance to the people of Indiana regarding the statewide help available to the low or middle income people of Indiana to buy houses.

About The Program

The Indiana Housing and Community Development Authority provides various state sponsored programs like the First Home Program, the Market Stabilization Program, Mortgage Credit Certificates, and so on to help the people of Indiana own homes. The First Home Program provides mortgages at rates below the market rate. The First Home Plus provides first time home owners with a down payment amount that need not be paid back until the home is up for resale. The Market Stabilization Program provides home buyers with a loan amount of $15000/- which need not be repaid if the owner is living in the purchased home for a period of not less than ten years and so on. Some of the programs available with the Authority are time bound, meaning the program will be closed after a certain period of time.

The Indiana Mortgage Help details how the Indiana Housing and Community Development Authority ensures that a home of their own is a dream come true to the low and middle income groups of the community. This in turn helps to balance out the inequalities in social standing to a certain extent.

The Authority not only helps the new home owners but also those owners who are being threatened by foreclosure. The Indiana Foreclosure Prevention Network helps those homeowners who are not able to meet a mortgage payment. The service includes a toll free number that the distressed party can call and ask for help. The program also hosts a website that provides advice to the home owners as to the steps to be taken to avoid the foreclosure. It also includes restructuring of the housing loans.

Most people are unaware of the options available to them by way of government funding when it comes to housing. The United States is trying to ensure that its citizens are properly housed and clothed. As such most states offer several programs to its people that would help them own a home. In the state of Indiana mortgage help comes in the name of the Indiana Housing and Community Development Authority. They are dedicated to the cause of helping the people of Indiana own homes or avoid foreclosure.