Like many Americans, our Chaldean-American Community
is Feeling the Economic Pinch.
The Obama Administration has launched a coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.
What can the Government do to help you if you are finding it more and more difficult to make your home payment.
There are a couple of options that the Government put in place that might be a solution for you.
Obama Administration Announces New Details on Making Home Affordable Program
The website is www.makinghomeaffordable.gov
If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible.
Learn About Making Home Affordable
Refinancing : http://www.makinghomeaffordable.gov/refinance_eligibility.html Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home.
Modification : http://www.makinghomeaffordable.gov/modification_eligibility.html Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income.
Beware of Foreclosure Rescue Scams - Help Is Free!
· There is never a fee to get assistance or information about Making Home Affordable from your lender or a HUD-approved housing counselor.
· Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay – walk away!
· Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
· Never submit your mortgage payments to anyone other than your mortgage company without their approval.