Struggling to Make House Payments?
If you're having trouble making house payments, call your mortgage lender.
Since mortgage lenders created programs to help home owners in trouble, foreclosure rates have dipped. Delinquent borrowers now can stay in their houses and "work out" their problems.
Among the programs used: restructuring the note terms to fit the borrower's needs; deferring past due payments to the final payoff of the loan; decreases in interest rates; and sales-in-lieu of foreclosure, which give time to delinquent borrowers to sell their properties to pay off the mortgage instead of foreclosure.
There's no reason to lose your home and equity. Work with your lender instead of ignoring your problems.
Copyright 2005 Jeanette J. Fisher
Since mortgage lenders created programs to help home owners in trouble, foreclosure rates have dipped. Delinquent borrowers now can stay in their houses and "work out" their problems.
Among the programs used: restructuring the note terms to fit the borrower's needs; deferring past due payments to the final payoff of the loan; decreases in interest rates; and sales-in-lieu of foreclosure, which give time to delinquent borrowers to sell their properties to pay off the mortgage instead of foreclosure.
There's no reason to lose your home and equity. Work with your lender instead of ignoring your problems.
Copyright 2005 Jeanette J. Fisher
posted by Jeanette at Monday, September 26, 2005
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