Speedbrake Publishing Launches Mortgage Information Site Mortgage311.org

PR Log (Press Release) – Oct 09, 2009 – Speedbrake Media launches Mortgage311.org, a mortgage information site aimed at homeowners who have underwater mortgages, who are having problems making their mortgage payments, or who are at risk of foreclosure or bankruptcy. The site provides the useful financial information as well as news of new government programs.

The rapid changes in the US economy in the last few months have sent homeowners reeling. Most have seen the value of their homes fall, sometimes by more than 50%, and many homeowners have also find themselves unemployed or with fewer hours and smaller paychecks.

Falling home values has caused many homes to have negative equity, where the total value of the mortgage and other home related debt are greater than the market value of the home. These underwater mortgages become a critical financial issue for families that may be forced to sell their homes for less than what they owe.

Mortgage311.org will help homeowners who are looking for information and advice on how to refinancing or modify their current loans, and who want to understand key financial issues like how  their adjustable rate mortgage may change, or the effect that foreclosure may have on their credit score. The site will link visitors to information on federal government programs, educate homeowners about what questions to ask their loan servicers, and what steps to take if they can't pay the mortgage on time.

Homeowners who have underwater mortgages and who can't pay the mortgage on time often have other issues like the threat of foreclosure, or having to choose between selling their home or walking away.

Visitors to the site can follow it on Twitter, can sign up for a mailing list, or tune into the podcasts, videos, and other educational material that will be a part of the site. To find out more, visit the site at http://www.mortgage311.org.