| “The best way to create a long term solution to this mortgage crisis is to work towards reducing the amount owed and the interest rate paid to create a realistic mortgage payment. It is fiscally irresponsible for lenders to pursue foreclosures rather than offering loan modifications or alternative solutions.”
Federal Reserve Chairman, Ben Bernanke |
Options available to homeowners unable to afford their current mortgage payments:For those borrowers desiring to save their home and avoid foreclosure, there is only ONE option. · Loan Modification – taking your current mortgage and finding a way to make it work for you· Property sale – a very challenging endeavor in today’s declining real estate market · Foreclosure – the personal impact and long term consequences are overwhelming and negative
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Tags: foreclosure, home, house, loan, modification, mortgage
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