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The Punctual Payment Program® provides homebuyers with reimbursement of their mortgage payments and financial difficulty assistance and resources should they encounter unforeseen financial challenges in their first year or so of homeownership.
In a country where homeownership is valued and promoted for a variety of sound reasons, there is an overwhelming amount of Americans who are facing financial challenges from; high unsecured debt, the effects of bad credit, job loss and cutbacks, marital issues, etc... These challenges and others have greatly impacted US households and oftentimes result in mortgage delinquencies and home foreclosures.
Given local market conditions, many sellers are faced with reducing the sales price of their property from once, to a few times in order to draw prospective homebuyers to purchase. Offering the Punctual Payment Program® will draw more traffic and sell the home quicker. Marketing the selling of a home as, "Your Mortgage Payments Reimbursed" generates buyer's attention and will assist in providing financial stability for the homeowner. Particularly in today's economy, homebuyers are much more interested in having money in the bank, versus the option to have upgrades in their home, a rate by- down, or even a reduced sales price.
The Program provides homebuyers with an opportunity to achieve two significant goals: 1) Reduce troublesome debt or 2) Create significant savings. No other program service can offer these powerful financial benefits.
The Punctual Payment Program® is administered by the Rainy Day Foundation.
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| The Punctual Payment Program® works within current HUD/FHA lending guidelines. HUD has reviewed the program. HUD has not approved the program nor do they oppose it. It is the lender's responsibility to determine program compliance. Punctual Payment is not a down payment assistance program. It is a post homeownership program designed to encourage and reward financial responsibility while providing counseling, education and financial protection services. |
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