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The US Government has set aside billions of dollars to help homeowners avoid foreclosure. The goal is to keep families in their homes-- and also to stabilize the housing market by keeping foreclosed properties from dragging down real estate prices. There are programs for homeowners who owe more than their homes are worth... programs for families who are behind in their payments... and programs to help borrowers with adjustable rate mortgages refinance into fixed-rate loans that will give them a stable, affordable monthly payment. Most major lenders have agreed to participate. That means they will receive FEDERAL DOLLARS to help offset the relief they give to homeowners. But with so many programs -- Making Home Affordable Refinances (Refis), Making Home Affordable Modifications, HOPE for Homeowners -- it's important for you to learn the rules. Find out whether you're eligible, then review the guidelines from official US Government websites. And then-- be prepared to stand up for the benefits you're entitled to receive, because many mortgage companies don't make it easy. Everyone benefits from the Making Home Affordable Refis and Making Home Affordable Modifications -- the mortgage companies get paid by the Feds and get problem loans off their books, families get to stay in their homes, and entire neighborhoods benefit from fewer foreclosures pulling down property values. |
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