How To Stop Foreclosure by Using a New Government Program

April 13, 2010 - PRLog -- But what if you are having a lot of trouble making your mortgage payments every month? What if you are falling on financial hardship due to income losses or major debt? There is a program that will be able to give you the financial freedom you need through the government’s new program dealing with loan modification. With this course you will be able to secure a better mortgage rate and a lower interest rate for your mortgage.

Hector Milla Editor of the "Best Mortgage Loan Modification" website -- http://www.BestMortgageLoanModification.net -- pointed out;


“…If you’re wondering whether or not you will be able to qualify, here are some of the qualities that most lenders look at. One of the biggest factors that you lender will consider when determining whether or not you can qualify is through your past bankruptcy records. If you have filed bankruptcy in the past, you might not be able to qualify for this new plan. It is also essential that you have secured your home loan before January 1, 2009 to be in the running for this new plan…”

You must also be living in the property that you cannot afford the monthly payments on. This has to be listed as your primary residence. If this is not listed as your primary residence, your lender might not allow you to be eligible for this new curriculum. Lenders also take your mortgage payment history into account when they hear your case. If you have been making your payments on time and in their full amount, you could be an excellent candidate for this new program. If you haven’t been making your payments, you might not be able to qualify.

Once you have looked over all of this information, you will need to get your tax returns and your debts together. You will need copies of all of your monthly expenses like your power bill, your water bill, and any credit card debt you have accumulated. You have to present this to your lender and make your case so they understand that you need this program to help you get out of debt.

“…This is a great curriculum for people in need, but you can’t wait to take advantage of it. If your home is going into foreclosure, you can avoid losing it through this new government program…” added H. Milla.

Further information about how to get professional assistance with a mortgage loan modification by visiting; http://www.BestMortgageLoanModification.net