Mortgage Help Programs

Mortgage Help Programs

Article by Jordan Odonnell

Mortgage help is now available through several programs for homeowners struggling with mortgage payments. Mortgage help programs such as loan modification are stopping foreclosures by the millions. Bad press lately and new focus by the Obama Administration on loan modification scams has put a cloud over this truly viable option. It is unfortunate that in any desperate time there are predators and scam artist waiting to take advantage of those in need.Despite recent reports about mortgage help scams there are even more reports of successful loan modifications. A real loan modification and mortgage loan assistance company focuses on helping homeowners avoid foreclosure and deal with other debt that may of accumulated during this period. It is critical to your financial success that you address all your financial issues including the threat of foreclosure. Stopping your home foreclosure and drowning in credit card debt may lead you back down this path again.Not all mortgage help programs are the same. You will find companies offering to buy your home, do short sales or even help with a foreclosure refinance. Refinancing sounds great, however; with damaged credit and recent late mortgage payments that option may not be available. Selling your home may work if you want to lose your home and rent for years until you rebuild your credit. These reasons are what make loan modification such a popular mortgage help option for homeowners facing foreclosure.With loan modification you get to keep your home, lock in a lower rate, lower payment and stay with your same lender. In essence it is like refinancing without all the paperwork, plus the mortgage rates and payments that a loan modification company can negotiate is much lower than today’s mortgage refinance rates.Mortgage loan modification help is easy to find online or on the TV and radio. Finding reliable mortgage help you can trust is not as easy. Taking the time to do your research on mortgage help programs is always recommended. Make sure you never fall for a foreclosure scam. Predators have even been known to ask a homeowner to sign over the property deed, claiming that if the homeowner makes the mortgage payments to them, they will be able to in stay in their home. Instead of contacting the lender or refinancing the mortgage, the predator takes the money you paid, and then files a bankruptcy case in your name – sometimes without your knowledge.Do your research, be safe and always ask the right questions.Visit our website at

About the Author

Jordan Odonnell writes regularly about finance related topics. I hope you enjoy this article.

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