Are you currently facing foreclosure and looking for mortgage relief?
If you have already received a Notice of Default (NOD) or are in danger of receiving one, then you may be feeling trapped in your current situation.
But There’s Hope for Your Underwater Mortgage
If you owe more than your home is worth, then you have an underwater mortgage. But you’re not alone. In the March 27, 2010 Washington Times article Obama foreclosure plan gives payment break to jobless “More than 15 million homeowners fall into this category, according to Moody’s Analytics.”
So What Can You Do When You’re Facing Foreclosure?
Actually you have several options depending upon what you want to do. If you want to be able to stay in your home you can do one of these.
- Apply for the federal Home Affordable Modification Program to get a loan modification.
- For second mortgages apply for the federal Second Lien Modification Program (2MP).
- Apply for the federal Home Affordable Refinance Program to get a mortgage refinance.
- Deal with the bank and/or second mortgage holder directly to obtain a loan modification.
If you can’t afford to stay in your home you also have options.
- Apply for the federal Home Affordable Foreclosure Alternatives program to do a short sale or deed-in-lieu of foreclosure.
- Let the house go to the foreclosure auction and move out.
To find out more about the federal government programs see Making Home Affordable Program.
But What If You Can’t Qualify?
If you’re facing foreclosure, there is one more option. You could qualify to get mortgage relief from your underwater mortgage with our Mortgage Debt Reset Program.
To get the specific information you need to qualify for our Mortgage Debt Reset Program go to Find Out More About Our Mortgage Debt Reset Program and sign up to receive our free no obligation information package.
