Shopping Cart
Your Cart is Empty
Quantity:
Subtotal
Taxes
Shipping
Total
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

Blog                                                             

Obama extends help to struggling homeowners – Loan modification benefits

Posted by martinez on April 27, 2012 at 6:05 AM

With the rise in the number of monthly debt obligations and the bruised job market in the US, most of the homeowners are struggling with their monthly mortgage payments. The Obama administration is extending its home mortgage assistance program in order to extend help to all those struggling homeowners who don’t qualify for home mortgage modification. As the nation’s housing market is tumbling, you need to take immediate steps to get on the right track so that you don’t end up losing your home to a forced foreclosure. The Obama Administration is not only giving the struggling homeowners an option to breathe a sigh of relief, but it is also helping the nation’s real estate market to boost itself. If you’re not aware of the home mortgage modification benefits, read on.

 

You can forestall a foreclosure: The biggest benefit of modifying your home loan is that you can avoid a foreclosure. Since the home loan is a secured loan that pledges your home as collateral, the moment you start defaulting on the loan amount, you’ll lose your home to a foreclosure. No bank or financial institution enjoys foreclosing a house as they lose a large amount while carrying out the entire process. Therefore, you should get help from the process mortgage modification if you want to forestall a foreclosure.

 

You can change the interest rates: The interest rate that you pay on the mortgage loan is usually the most probable reason for mortgage defaults. If you’ve fallen back on your monthly mortgage payments due to sky-high rates that your mortgage lender is charging you, you may get your loan modified and the interest rate lowered. With lower interest rates, you can even revise the monthly payments and thereby save a considerable amount of money in a month.

 

You can change the term of the loan: You may have taken out a 15 year term mortgage loan as you thought that you can make the payments on time. If you are presently going through a credit crunch and you feel that you can’t make the payments on time, you should speak with your mortgage lender and make sure that you extend the term to a 30 year loan so that you can lower the monthly payments and thereby repay without falling back on all the other monthly debt obligations.

 

When you feel that you can’t make the monthly installments on your home loan, negotiate with your mortgage lender. Draft a mortgage modification hardship letter stating the reason for not being able to make the payments on time and close the deal. Just ensure that you make the payments on time after your loan is modified so that you don’t hurt your credit score.

Categories: None

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

Already a member? Sign In

1297 Comments

Reply Miabic
10:47 AM on December 6, 2022 
retino cream
Reply WilliamNam
4:28 AM on December 6, 2022 
generic viagra 100mg cost can you order gabapentin online indocin coupon benzoyl peroxide erythromycin gel retino 0.05 price generic allopurinol levaquin antibiotics atarax 100mg tablets
Reply Lisabic
4:44 PM on December 3, 2022 
deltasone pill
Reply Curtisbem
2:34 AM on December 2, 2022 
strattera 40
Reply Michaelsikax
1:25 AM on December 1, 2022 
where to buy viagra in south africa
Reply fear of god clothing
10:18 PM on November 30, 2022 
you've an important weblog here! would you like to make some invite posts on my weblog?
fear of god clothing http://www.fearofgod.us.com
Reply paul george
7:20 AM on November 30, 2022 
The next time I read a blog, I hope that it doesnt disappoint me as a lot as this one. I imply, I do know it was my option to learn, but I truly thought youd have something fascinating to say. All I hear is a bunch of whining about one thing that you would repair should you werent too busy on the lookout for attention.
paul george http://www.paulgeorge.us.com
Reply Michaelsikax
5:41 PM on November 29, 2022 
ordering strattera online
Reply sevilorgu
6:40 AM on November 29, 2022 
fairy godmother pandora charm ralph lauren denim shirt womens charm pandora grandmother juventus stadium dream league soccer 2019 for cheap unmatched graham shayne jersey houston texans 17 men white game jersey nike nfl jersey sale mens san diego padres 2 johnny manziel grey new cool base jersey
sevilorgu http://www.sevilorgu.com/
Reply cikgudollah
3:03 AM on November 29, 2022 
tottenham grand slam polo for cheap alie saddle karrimor gilet ladies new york mets 47 brand hat pattern dallas mavericks new era cap for uk navy blue mermaid dress
cikgudollah http://www.cikgudollah.com/
Reply golden goose sneakers
1:10 AM on November 29, 2022 
This actually answered my drawback, thanks!
golden goose sneakers http://www.goldengooseshoes.us.org
Reply salnunz
2:32 PM on November 28, 2022 
tottenham grand slam polo for cheap alie saddle karrimor gilet ladies new york mets 47 brand hat pattern dallas mavericks new era cap for uk navy blue mermaid dress
salnunz http://www.salnunz.com/
Reply supreme outlet
10:05 AM on November 28, 2022 
I'm typically to blogging and i really admire your content. The article has really peaks my interest. I'm going to bookmark your website and keep checking for brand spanking new information.
supreme outlet http://www.supremeoutlet.us.com
Reply cognisiveit
3:17 PM on November 27, 2022 
vacay look dresses mlb jerseys texas rangers 5 ian kinsler blue cool base jersey w 2011 world series patch jerseys san francisco giants 5 panel hat not working cheap boston red sox baseball hats va events new arrival party wear saree
cognisiveit http://www.cognisiveit.com/
Reply dokanmela
2:30 PM on November 27, 2022 
silk bonnet before and after
dokanmela http://www.dokanmela.com/
Reply Kiabic
8:48 AM on November 27, 2022 
flomax price
Reply wmzvonmo
1:25 AM on November 27, 2022 
michael kors suri bucket all red jordan 11 gown with shirt tiffany fleur de lis bangle oakley milestone 3.0 replacement parts chanel quilted glasses
wmzvonmo http://www.wmzvonmo.net/
Reply emavxcra
7:37 PM on November 26, 2022 
?????? ???????? ??????? ???? ????????? ??????? ? ?????????? ????? ????????????? ???? ?? ??????? 2021 2022
Reply hakaruina
3:15 PM on November 26, 2022 
oversized short sleeve blouse 49ers camo hat for sale moncler coat new new balance 990 blue and grey 47 brand boston red sox hat year
hakaruina http://www.hakaruina.com/
Reply thegfxlab
1:50 PM on November 26, 2022 
plus size disney costume fc real madrid kit dream league soccer for cheap moncler jacket 2019 black rainbow nike air max uptempo 2 shoes for cheap steph curry sour patch shoes mens nfl chiefs gear for cheap
thegfxlab http://www.thegfxlab.com/