Government Loan Modification Plan Leaves You In The Dark
The Government loan modification program is supposed to turn the mortgage crisis around but can it? If you are facing Foreclosure you need all the help you can get. You must have already heard of the Government plan to help you but who qualifies: - Your property has to be owner occupied.
- You can't be eligible if you file for bankruptcy.
- You must have a Fannie Mae or Freddy Mac
mortgage. - You must be three months behind on your
mortgage payments. - The plan assumes that your lender has the
resources and personnel to help you. - The whole process requires you going through a
complicated bureaucratic procedure, assuming you know how. - The plan does not cover subrime mortgages.
As you see the Government program almost forces you to miss mortgage payments to be eligible. On top of that it assumes you know how to prepare the paperwork and that you know how to negotiate with your bank! The plan has too many shortcomings, it does not even cover subprime loans.
When you are dealing with Foreclosure you are desperate and confused, the last thing you need is more pressure, to learn how to deal with your lenders requirements for a Loan Modification.
There are many options you may qualify for that your lender will not mention to you. Your lender has their best interest in mind not yours. You may qualify for help even if you have not missed any payments. I have been in your shoes, I understand what you are dealing with. Call me, I am on your side. Together we will discuss what will work in your situation.
Return from Government Loan Modification to home

|