Mortgage Payment Assistance
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Mortgage Foreclosure Prevention Help Now
Mortgage foreclosure help is here. The mortgage payment assistance program recently passed by Congress will help with ways to stop foreclosure. Note This is not an affiliate site but an information site to help you when facing foreclosure problems. To help yourself, you have to be pretty aggressive with the bank or finance companies in getting you signed up for these programs. Most financial institutions are just getting started on these programs. You can also call you elected representatives if you think you are getting the run-around. You can go here to easily find your representative: Contact Your Elected Official
Contents at a Glance
HOPE for Homeowners
Law passed by US congress aims to stem the foreclosure blood flow.
The new legislation passed by Congress and signed by the President is intended to help homeowners behind in their mortgages catch up with the use of creative financing.The law, commonly known as the "Establishment of Hope for Homeowners Program", (Housing and Recovery Act of 2008, Title IV) has provisions that everyone facing struggles to pay their mortgage should be aware of.
How Do I Apply for the HOPE Program?
It is simple to apply for the HOPE program. Just call your finance company or bank holding your mortgage. Tell them you want to apply for the HOPE Program or any one of the other federal mortgage bailout programs they are offering.
DO IT NOW! Keep being persistent and you should get the help you need. Remember these programs were specifically created for citizens like you. Use them!
What is the Intent of the HOPE Law?
The law seeks to help homeowners avoid losing their home by allowing the homeowner, with the cooperation of the lender or mortgage holder, refinance the existing mortgage to one that will fit the financial capabilities of the borrower.Ideally, the homeowner will be able to comfortably make the new payments and take the property out of foreclosure or threatened foreclosure.
If the homeowner meets certain criteria she will be eligible to refinance at a lower rate with the new loan insured by the Federal Housing Administration (FHA)
There is HOPE
If you are having problems paying your mortgage or are facing foreclosure, get in touch with a federal government counselor right away
www.makinghomeaffordable.gov
Housing Urban Development
1-888-995-HOPE (4673)
There are millions of people in trouble with their mortgage. Don't be ashamed to get help. The line will just get longer if you delay. Remember to also get in touch with your state's housing finance agency for additional help. Don't give up. Keep pushing and you can and will save your home - your most valuable asset.
Your Path to a More Affordable Home
What Happens if my Mortgage Company Accepts My Application?
What usually happens is the mortgage or finance company will temporarily adjust your monthly mortgage payment amount. Most likely it will be adjusted down significantly to a rate you should have no problem paying each month. This however is a "trial payment". The mortgage company will require you to pay this trial payment for three months straight without missing or being late on a payment. If you do this, then the mortgage company will likely refinance your mortgage to the new lower rate or somewhere thereabouts.
If you have arrears (past due amounts) the mortgage company will stick those on your refinanced loan, but it should not raise your monthly payment.
There are many other things about the refinancing with the HOPE program. Go to the U.S. Housing and Urban Development website HOPE for Homeowners to get more information. Make sure you are getting information straight from the US government by checking to make sure the URL ends in "gov". There are many scammers out there, so be careful.
Get help From a Legitimate Credit Couseling Firm
There are resources out there waiting to help you with debt problems
Credit rip-offs tend to abound these days, and unscrupulous credit counseling services can rip off unsuspecting consumers-especially since consumer debt management is a highly profitable business. However, there are credit counseling services in your state with untainted reputations who offer high-quality debt management services for FREE or at reasonable prices. These tips will help you find a reputable credit counseling service in your area.
Read more: How to Find a Reputable Credit Counseling Service in Your State | eHow.com http://www.ehow.com/how_4749884_reputable-credit-counseling-service-state.html#ixzz17WsFwjYo
Defeat Foreclosure
Defeat Foreclosure intelligently and concisely lays out the viable options available to homeowners at risk of losing their homes.
Mortgage Foreclosure News
Current events surronding foreclosure and the housing market
- Mortgage Loans
- Article describing how one may secure a mortgage loan after foreclosure.
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