Thursday, September 9, 2010

Foreclosure Alternatives – Do YOU Qualify for a Loan Modification?

If you are facing foreclosure or are having a difficult time making your mortgage payments or will be in the foreseeable future then this information will help you with several alternatives. First it’s very important to be PRO-ACTIVE with your mortgage solution. Don’t bury your head in the sand, ignoring your situation will only help you lose your home. So let’s get busy and save your home!
There are several programs to help you and all you need to do is apply and provide the needed documents to get started. First and foremost these programs are FREE, don’t pay anyone a Fee to get what is rightly yours at NO Cost. YOU can do this!
Home Affordable Refinancing – This is for homeowners who are making their mortgage payments on time but are not able to take advantage of our current low rates due to the decrease in value of their home. If your loan is held by Fannie Mae or Freddie Mac you should be able to refinance with this program.
Home Affordable Modification – This is for struggling homeowners who have had rate adjustments or have suffered a loss of income. A Modification can lower their mortgage payments. This will change the overall terms on your loan and add any missed payment to the end of your loan increasing your term but lowering your payment sometimes on a graduate payment plan to help you get back on your feet.
Second Lien Modification Program (2MP) - If you have a 2nd lien and are applying for a modification on your 1st lien this program will also help lower the payments on your second lien.
Home Affordable Foreclosure Alternatives – This program offers homeowners $3000 to help transition to a more affordable home if they cannot afford their mortgage. They can avoid the negative effects of foreclosure if they cooperate with a short sale or deed –in-lieu of foreclosure.

There are other program available that are not listed a new one for people who are unemployed, stay tuned as I will be posting information about more programs.

You can get all the information about these programs and more at;
Making Home Affordable

HUD Avoid Foreclosure


Andrew Holiday said...

If you haven’t read my prior post called “ While the Government is working towards a Federal program for Principal Reduction…The private sector already has the solution ” please do so, because it explains a lot about the solution to this problem today, information about what is happening today, results people are getting and how to qualify.

Roxy's Real Estate News said...

Hi Andrew, nice website with lots of information.. what is your roll and objective?