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Loan Modifications Are Still A Viable Refinance Alternative


October 4th 2010 Florida For many homeowners who are still trying to capitalize on historically low mortgage rates, a loan modification may be a better option than refinancing.

As mortgage rates continue to set record lows, homeowners everywhere are scrambling to capitalize on an opportunity to reduce their mortgage payments. The most popular way to accomplish this is by refinancing. Refinancing simply replaces the existing mortgage with a new, lower rate loan resulting in a reduced payment. Although the process is straight forward, qualifying has become difficult.

Many homeowners are faced with credit problems, late mortgage payments and no home equity, making it impossible refinance. When refinancing is no longer an option, the best alternative is a loan modification.

A new website has been established to help homeowners determine if they can qualify for one of the many loan modification programs available today. Since credit, income and home equity are NOT considered significant qualifying factors, many homeowners are surprised to learn that they are eligible to reduce their payments by up to 40% in some cases.

Since 2007 the number of new modification programs has proliferated. Each program is specifically designed to the individual situation and requirements. Additionally, the process has become somewhat streamlined and easier to accomplish. is first step toward not only saving a home, but reducing mortgage payments in the process. They are leading the way in simplifying the entire loan modification process. For more information, contact US Mortgage Relief at 888-563-6060.


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