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Home Saver

FAQ

1. Q: What is the Home Saver Program (HSP)?
A: The Home Saver Program offers assistance to mortgagors who are unemployed or substantially underemployed. MHC will pay 100% of the mortgagor’s monthly mortgage payment for a period of 24 months or more depending upon the term and/or program he/she is eligible for.

2. Q: Where do I apply?
A: Go to https://www.mshomesaver.com and submit an application.

3. Q: What if I don’t have access to a computer?
A: Computers are available at your local WIN Job Center, Public Library or a VITA Center.

4. Q: What are the eligibility requirements?
A: Eligibility requirements can be found on the main page of https://www.mshomesaver.com.

5. Q: How long after I apply can I expect to be notified?
A: Applicants will be notified within 48 hours.

6. Q: What if my home is in the process of foreclosure?
A: If your home is in the process of foreclosure, proceed with the application process. Once the file is approved by underwriting, your servicer will be notified. It is at your servicer’s discretion on whether the foreclosure will be stopped or not.

7. Q: What if I do not have all the information necessary to complete the application once I’ve started?
A: At anytime during the application process, you may save the information you’ve completed, and return at any future date to submit.

8. Q: What if I have questions or have technical problems during the application process?
A: Once you’ve started the application process, you will be assigned to a Counselor. At that point, specific questions upon completion of the application process will be answered by the assigned Counselor.

9. Q: What if I’m currently working with a Counseling Agency?
A: Contact your Housing Counselor and discuss the Home Saver Program before submitting an application.

10. Q: What if I am currently in bankruptcy?
A: If a mortgagor is currently in bankruptcy, he/she would not be eligible for the Home Saver Program.

11. Q: What if my mortgage is currently delinquent?
A: The Home Saver Program will make a one time payment to bring the mortgage current depending on the Home Saver Program option chosen.

12. Q: What documentation will I have to provide for the Home Saver Program?
A: A list of required documentation can be found on the main page of https://www.mshomesaver.com, and a submission checklist will be included in the package you print once the application has been completed.

13. Q: After I’m approved and assistance is being provided to me, will I be required to do anything else?
A: Yes. On a quarterly basis you will be required to submit certain documentation and status updates to the Mississippi Home Corporation for your assistance to continue through the term you were initially approved for.

 14.  Q: What if I have been furloughed? 
   A: You will be eligible for assistance as long as you are eligible to receive unemployment. 

 15.  Q: What if my loss in income is due to the death of my spouse? 
   A: You will be eligible as long as you experienced a 15% reduction in income and your spouse's income was part of the mortgage qualification, which means they must be listed on the mortgage note. 

 16.  Q: What if divorce caused my loss in income?
   A: You will be eligible as long as you experienced a 15% reduction in income and your spouse's income was part of the mortgage qualification, which means they must be listed on the mortgage note. 

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