We know at times life can be unbearable and unpredictable, especially with economic tough times looming over you. Your day-to-day expenses are on the rise, unexpected changes begin to happen and some how you fall behind on your mortgage payments. Maybe it was due to a job loss, high medical costs, increase utility bills, an unexpected illness or something else. Whatever the reasons, you're just not sure where to turn. Maybe there is a solution--a home affordable loan modification.
In February 2009, President Obama announced the Home Affordable Modification Program (HAMP) to help eligible families modify their mortgages to avoid foreclosure. In order to qualify, the home must be your principal resident and not have changed ownership. To determine if you qualify, contact your mortgage company directly or a US Department of Housing and Urban Development (HUD) approved housing counseling agency. The housing counseling agency can help you (free of charge ) evaluate your situation, review your income and expenses, so that options are available to you. To speak to a housing counseling agency, call 1-888-995-HOPE (4673) or visit HUD's website at hud.gov hud.gov and click on "resources." If your mortgage company is a HAMP participant, ask them about all of your modification options, follow all instructions and provide the necessary documentation.
NOTE: Please be careful of scams, as there are unscrupulous companies who will claim they can modify your mortgage for a fee. DO NOT pay any fees to help get a loan modification. Seek a HUD approved housing counseling agent at the number above.
Copyrights 2010
Rita Rashad is an active real estate investor at kmproperties.net kmproperties.net whose only objective is to assist homeowners who are facing difficulties with maintaining their home, see endhousestressnow.com endhousestressnow.com.
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