For the Unemployed, The Home Affordable Unemployment Program (HAUP) can be a valuable asset in their fight against foreclosure. The foreclosure prevention strategy as taken by government involves a number of programs each having its target group of homeowners.
Maybe the Treasury Department, the administrator of the government’s bail out policy for homeowners realized the challenges associated with running one program that will meet the needs of all distress homeowners.
For this reason, in spite of the fact that the foreclosure strategy by the government involves one single program named the Making Home Affordable program, there are a number of sub-programs running under this main program which all require a hardship letter. It is these sub-programs that are designed to meet the needs of different types of delinquent homeowners.
For the unemployed homeowner who is looking to save his or her home from foreclosure, some of the programs outside the Home Affordable Unemployment Program (HAUP) may prove to be not useful. Such homeowners are advised to seek assistance under HAUP as all programs within the Home Affordable Unemployment program were created with the needs of the delinquent homeowner in mind.