Loan Modification Demand Is Strong As Lenders Make It Tougher To Get A Mortgage.
The already weakened real estate market continues to suffer as Banks tighten up their lending guidelines making it harder for borrowers to obtain financing. As a result, many homeowners are trapped in high interest rate mortgages with very few options.
Considering that many homes are underwater (have no equity), the most viable option to reduce mortgage payments is a loan modification. Unlike refinancing, credit income and home equity are not considered negatively as they would be for a refinance. A national website www.usmortgagerelief.org has been established to assist homeowners in qualifying for the many programs available.
A loan modification has the potential to reduce a homeowner’s mortgage payment by as much as 50%, depending on the situation. The process can usually be accomplished quickly, once the necessary paperwork has been submitted to the lender. Individuals who are facing foreclosure can also benefit from a loan modification, as process will add any late payments and penalties to the back of the new modified mortgage. Upon completion, the loan is usually made current again giving the borrower a fresh start.
Homeowners who are not qualified for a traditional refinance or simply looking to explore other options may visit www.usmortgagerelief.org and learn about the many choices available. U. S. Mortgage Relief can also be contacted directly at 888-563-6060
- Contact Information
- Peter Parente
- Director Of Marketing
- US Mortgage Relief
- Contact via E-mail
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