Save Your Home
Mortgage Modification Programs are Available
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help)
Stop living in fear of
losing your home
If you
are having financial difficulties - due to a job loss, a higher mortgage
payment, or any other reason - you are not alone. The economic crisis
has made it hard for many responsible homeowners to make ends meet. The good
news is that many people who were finding it difficult to make their mortgage
payment have been able to save their home, and you can too. You could lose your
home if you ignore the problem and do nothing. Get in touch with a counselor and
your servicer (the company to whom you send your monthly mortgage payment)
today.
Your
Servicer Wants to Help
Your servicer wants to help you keep your
home. Many servicers implemented new loan modification programs in 2009 to
assist homeowners experiencing financial difficulties by lowering their monthly
mortgage payments. Plus, many servicers are participating in the government’s
Making Home Affordable Program and are working with non-profit counseling
agencies through HOPE NOW.
Contact Your Servicer Today
Many servicers have recently added new
mortgage modification programs for home loans. Call your servicer even if your
request has been turned down before, as you might qualify under a new program.
Be patient and persistent if you don’t reach your servicer on the first try, as
other homeowners are seeking help as well. If you don’t know who services your
loan or how to contact them, check your mortgage statement or look on-line at http://HopeNOW.com/index.php.
Apply for a Loan Modification
In a mortgage loan modification, you and
your servicer agree to permanently change one or more of the mortgage’s terms to
make the payments more manageable for you. The changes could include reducing
the interest rate, extending the term of the loan, forbear-ing (interest free)
or forgiving principal, or a combination of these factors.
|
Save Money
A loan modification could lower your
monthly mortgage payment by hundreds of dollars and save your home from
foreclosure! |
