Loan Modification Help is Becoming Easier As Demand Rises
Florida, August 19, 2010 — As number of struggling homeowners increases nationally, many companies are reporting a surge in new applications for Loan Modifications. The sluggish economy and declining property values have made it nearly impossible for many homeowners to refinance into a more affordable payment. Refinancing requires good consumer credit and a considerable amount of home equity.
A national website www.usmortgagerelief.org has been established for homeowners who are either unable to refinance, or want to explore other options. Unlike refinancing, credit, income and home equity are not considered ‘knock out’ factors in terms of qualifying. Additionally, refinancing requires a significant amount of closing costs which is not the case with a loan modification.
Many homeowners have been able to achieve better results with a loan modification as opposed to refinancing. With prevailing interest rates at nearly 4% (almost record lows), it is not uncommon for homeowners to be able to reduce their monthly mortgage payments by up to 40% or more. It should also be noted that borrowers who are currently past due or facing the possibility of foreclose can be helped with one of the many loan modification programs available today.
For more information on the various programs available, please visit www.usmortgagerelief.org or contact them directly at 888-563-6060
- Contact Information
- Pete Parente
- Marketing Director
- U.S. Mortgage Relief
- Contact via E-mail
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