Monday, October 5, 2009
Mortgage Lending - Tools & Resources
Mortgage Lending - Tools & Resources: "Mortgages have always involved a lot of paper, and it’s easy to get bogged down in the details. Here we offer some tools and resources to make the issues pop out: a real-time counter of foreclosures; videos; and some of the key stats that describe the impact of abusive mortgage lending on families."
Sunday, October 4, 2009
Making Home Affordable Program
The economic crisis in America is creating a rapidly growing population of the working poor. I know you would agree that the American family faces more challenges today than ever to remain stable. Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income. Other homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home. Whatever your situation may be there is help!
The Obama administration initiated the Home Made Affordable program in March of 2009. It will allow homeowners to modify the terms of their loan, and hopefully lower their monthly mortgage payments. Thirty-eight companies are participating in the government program. However, lenders are not required to participate. They are only encouraged. If your lender is not participating or if your lender is not cooperating with you, there are alternative paths to gain access in to the program. In addition to the various government agencies, there are several non-profit organizations enrolling distressed homeowners into Home Made Affordable.
Making Home Affordable website
The Making Home Affordable website www.MakingHomeAffordable.gov, provides homeowners with information need to make an informed decision. This website contains useful information and links to prevent foreclosure.
Website Contains:
- Programs Information
- Self-Assessment Tools
- Eligibility Calculators
- Foreclosure Prevention
- Counseling Agencies
- Foreclosure Prevention
- Resources
http://www.youtube.com/watch?v=LP3169ENV_k
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