1st Foreclosure Prevention.com Promises to Take Advantage of Government Revitalization Programs

Dec. 11, 2009 - PRLog -- The government revitalization programs through “The Homeowner Affordability and Stability Plan” and the active participation of buyers and lenders have lead to a steep increase in the success rates with the active involvement of firms like 1stforeclosureprevention.com.

Every single property owner would have feared about getting a foreclosure for any of their properties in the last one year. The recent economic turmoil has completely taken away all the wealth and the buyers were left as debtors when things started getting back to normalcy. Loss mitigation companies like 1stforeclosureprevention.com work with the debtors or the home owners and try their best to avoid a foreclosure that might arise due to defaulted payments. The property owners are left with no option and money to repay according to the schedule. The financial experts in their team have understood your financial turmoil and try their best to avoid foreclosure through loan modifications.

On seeing the turmoil of the lenders and buyers, the government help has come forward to put an end to all the speculation. Through its revitalization program, the home loans can be modified easily and in a fast manner. It is designed to lower the mortgage payments for the qualified housing loan borrowers to near equal of 31% of their monthly income by the use of various guidelines. The participation of the lenders or buyers is not mandatory. However, there are lots more financial institutions and buyers those who take part actively and voluntarily.

1stForeclosurePrevention.com, a loan modification firm will negotiate with the lenders to reduce the mortgage payments and work in favor of the buyers. This will reduce the burden and try to work to devise on making a home affordable plan. An affordable and safe repayment options are devised and they are best negotiated with the creditors. Their experts will make sure that the buyers will get through the process of loan modification so easily. The team of experts from 1stforeclosureprevention.com will make sure that the home owners will get their reward of $1000 for up to 5 years if they keep their payments current and an additional $250 per year for the second loans that are modified and should be kept current.

Through this government help, the lenders and servicers those who are participating will get a reward of $4500 as an upfront incentive. The government is even ready to extend its help by subsidizing the loss incurred by the financial institution. The Department of Treasury will generally make the payments to the lenders offering this kind of standardized loan modification process. As a loan modification firm, 1stforeclosureprevention.com works at its best to provide the best of services and reduce the repayment burden on the buyers.

About the Company:

1stForeclosurePrevention.com is a loss mitigation company that helps the borrowers and other buyers to avoid foreclosure through their exclusive financial and legal assistance. Their ultimate mission is to negotiate on a satisfactory basis to prevent foreclosure minimizing the negative impact in life. A viable solution is obtained after consulting the lenders and the buyers can lead a hassle free life.