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    In today’s economy, more and more homeowners are struggling with maintaining monthly mortgage payments.  As expenses rise, some homeowners are facing a crisis such as foreclosure.  PHH Mortgage, a leader of the nation’s lending institutions, offers several programs to help the homeowners meet their obligations, become current on their mortgage payments, and avoid foreclosure.

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    PHH is not just a lender; it is also a servicer of loans made by many other lenders.  This means that, with well over $40 billion in loan experience, PHH can find the best mortgage relief solutions for home owners.

    PHH works in conjunction with many government relief programs within the Making Home Affordable Act. (more…)

                 Troubled Asset Relief Program: Help for Struggling Homeowners

    In March of 2010, President Obama released a series of programs known as the Troubled Asset Relief Program aimed at helping financially struggling homeowners.  In response to the nearly 25% of American homeowners who found themselves underwater, or what is termed as being “upside down” in their mortgages, the President’s plan lowers payments through refinancing and loan modification programs with new government-backed mortgages. The government is offering initiatives for loan providers and banks to write off some principal amounts due on loans for homeowners through these modification programs, rather than just lowering interest rates.  These plans are expected to help three to four million struggling property owners over the next few years.

    The government emphasized that no taxpayer money will be spent on these programs, and that the monies needed for the plan would be instead taken from $50 billion set aside for the Troubled Asset Relief Program.

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    Where to Find NC Mortgage Help

    One of the biggest challenges, which many people are facing in Northern Carolina, is who to rely on when considering purchasing a new home or getting mortgage help. If you are in this stressing position right now, you have come to right place because you are on your way to finding a reliable and trustworthy Mortgage help. The North Carolina state government has started numerous programs for its residents to make sure that they get sufficient help whether you own a home currently or just planning do so in the near future. The federal government has allocated millions of dollars known as the hardest Hit Fund to help the people of Northern Carolina.

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    Making Home Affordable Act Eligibility and You

    March of 2010 saw an expansion of the Making Home Affordable Act, the Federal Housing Administration’s refinance program, which will give responsible homeowners the chance to remain in their homes despite financial hardships and duress.

    The Treasury Department and HUD, the Department of Housing and Urban Development, created these expansions to allow homeowners a chance to renegotiate their mortgages despite being upside down in their mortgage, a term used to mean owing more on the house than the property is worth.  These owners can now qualify for a reduced rate FHA loan.

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     US Bank Home Mortgage Assistance Programs; Relief Programs for Homeowner

    One of the top lenders in the country, US Bank is now offering mortgage help for homeowners who are struggling to make ends meet, missing mortgage payments, or who owe more on their property than it is worth.  Some, such as HARP and HAMP are government sponsored while other options are unique to US Bank.

    The first option, a US Bank Repayment plan, allows a homeowner who has missed payments in the past to pay these past due amounts in monthly installments.  The US Bank Repayment plan is a viable option if the homeowner has extra funds at the end of each month and can apply these funds towards the mortgage plus the repayment amount.  US Bank offers an online link to determine what repayment plans are available, and which is best for the homeowner.

    Another US Bank mortgage relief program is the Hardship Loan Modification.  US Bank will combine all overdue interest and principals due because of missed payments and add them to the term of the loan, thus extending the loan.  A 30 year loan, for example, might be extended to a 30 year four month term if the mortgage payments are four months behind.  This is more appropriate for a homeowner who doesn’t have extra money at the end of the month but can cover mortgage payments and applicable fees.

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    Wells Fargo Loss Mitigation

    If you have a mortgage with Wells Fargo, and you’ve ever had a problem making your payments, then you may have heard from the Wells Fargo loss mitigation department. This is a department that typically comes into play if you are behind on your payments only for a few months. If you’ve been contacted by this department, you can just about bet that the mitigation process is already taking place. However, for many, there are a number of options available to you if you’re having trouble making your payments on time.

    Below you’re going to discover some important information about Wells Fargo loss mitigation, and how you can use this department to help you keep your home by working through a number of options that they offer. Before getting started, there are some important items that you’ll need to understand and consider.

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    South Carolina Mortgage Help

    How Families Can Retain Their Homes through SC Mortgage Help

    Failing to pay your mortgage bills promptly can lead to the foreclosure of your home. There is help for people who need South Carolina Mortgage Help.  Your mortgage lender uses foreclosure as a legal means to repossess your precious home. In case this happens, people are forced to move from their homes. Often, if the value of your piece of property does not amount to what you owe the mortgage lender; further steps are employed to help recover the missing amount. When this takes place, on top of owing the mortgage lender additional amount in loans, you risk losing the home of your family and seriously harm your credit rating. The following are tips for SC mortgage help for families to retain their homes.

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                                 Bank of America: Mortgage Relief Program

    Many homeowners are faced with losing their homes due to unemployment, underemployment, medical costs or deep debt concerns, but Bank of America has programs designed to stop the foreclosure process and help homeowners stay where they belong; in their own homes.

    Bank of America has agreed to a settlement with the Department of Justice and the Attorney General’s office called the global settlement.  This agreement allows homeowners to reduce the principal of their loans, lower interest rates, and provide appealing short sales terms.  It also provides loan modifications and refinancing for qualified homeowners.  Bank of America is providing the following per the agreement: (more…)

     Getting Utah Government Mortgage Assistance

    Struggling with a mortgage doesn’t have to mean foreclosure for Utah residents. Many banks offer loan modification and refinancing throughout Utah, and state and the federal government both offer many programs to help as well.  Utah Government Mortgage Assistance is available, and these services and programs can take the form of free or low cost counseling for debt consolidation, loan modification and refinancing solutions, or grants and financial aid.  Utah government mortgage help can be for either short term or long term problems; the primary purpose of these programs is to help Utah residents stay in their homes and avoid foreclosure

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    Mississippi Home Mortgage Assistance Programs

    The state of Mississippi, like the rest of the country, has fallen victim to the recent housing crash. Many homeowners are now upside down on their mortgages, behind on payments and facing foreclosure. Mississippi, however, has stepped up to the housing challenge and provided options to keep homeowners in their homes. Mississippi home mortgage assistance comes in many forms and can help achieve the dream of home ownership for low income families; some of these programs are also designed to help current homeowners take control of their own mortgages again. All of the main Mississippi mortgage assistance programs are run by the Mississippi Home Corporation. (more…)

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