Be Good To Your Money Bulletin http://ezezine.com
In the past few months, I have received numerous emails and phone calls
concerning mortgages. If you are facing foreclosure on your home, here
are some options you can present to your mortgage company to try and
save your home:
CONTACT THE LENDER: The mortgage company's portfolio is overloaded
with foreclosed properties and they don't want to add yours to the
list. So, contact them to see what they can do to assist you.
REQUEST A FORBEARANCE: This will enable you to skip payments or make
partial payments while you get back on your feet.
NEGOTIATE A LOAN MODIFICATION: The modification could include lower
the interest rate, extending the life of the loan, or re-amortizing the
loan balance.
TRY TO REFINANCE YOUR ARM FOR A FIXED RATE: This could be a problem
for many. Many people are in more of a home than they qualify for,
therefore, they won't qualify for the fixed rate loan. Also, the value
of the homes have declined drastically, and the homes are not
appraising with any equity, for possible refinance.
SET UP A REPAYMENT PLAN: This is an arrangement between you and the
lender that outlines how you will repay the delinquent payments, while
making your regular payments.
CONTACT HUD: Many states are establishing "rescue funds" to allow
struggling homeowners to refinance into fixed-rate loan. Contact HUD
at 800-CALL-FHA or www.fha.gov.
Make foreclosure your very last option!
ON SALE NOW! BE GOOD TO YOUR MONEY ($10.35) and BE GOOD TO GOD'S MONEY
($8.28) at www.THEREADINGWAREHOUSE.com
www.LisaFrye.com
L L Q Publishing Company
631 N. Stephanie Street
Suite 311
Henderson, NV 89014
(866) 750-0188