Save Our Home AZ
We are excited to tell you about a program in Arizona that helps homeowners who have had a reduction or loss of income. That program is called “Save Our Home AZ”(SOHAZ). The State of Arizona has made up to $100,000 available for each homeowner who qualifies. This money is assistance for you and is offered in several different ways for eligible homeowners
- Monthly loan payments – The SOHAZ Program will pay all or a portion of your monthly payment while you are unemployed or underemployed.
- Reinstate your loan – The SOHAZ Program will bring your loan current.
- Second Mortgage Settlement – If you have a second mortgage, the SOHAZ Program may settle with your lender for less than the balance or your loan may be paid off, if possible.
- Short Sale – When you sell your home and the loan balance owing is more than the value or selling price, that is called a “short sale”. The lender must approve the sale and the SOHAZ Program will give you $4,500 to help you move.
- Refinance / Principal Reduction – If you qualify for a refinance loan, the SOHAZ Program will pay down the balance of your loan during the refinance process; that is referred to as “principal reduction”.
Let us review your situation to determine which option is best and that which you may qualify. You may also visit the State of Arizona’s website at www.azhousing.gov to read further about assistance that is offered.