Home Loan Modification – Can President Obama Save Your Home?
Posted on | October 22, 2009 | 4 Comments
The home loan modification program Making Home Affordable was designed to help home owners avoid foreclosure and save their homes. President Obama realized that the increasing number of foreclosures was not only hurting the economy but it was hurting every single person in America. Foreclosed homes are causing the price of your home to go down even if you didn’t realize it.
To combat the increasing number of foreclosure President Obama and his staff created the Making Home Affordable plan which was aimed to help you lower your monthly mortgage payments. If your monthly mortgage payments are overwhelming you and you just aren’t making enough money to make ends meet then there is a good chance that the Making Home Affordable plan can help you.
The plan is quite extensive and even the most knowledgeable mortgage brokers do not understand the entire program. I would suggest you start by checking out the Making Home Affordable website and seeing what ways the plan can help you. The website is quite extensive so make sure to allow yourself plenty of time to look through it.
If the financial jargon is too much for you to understand you can call a HUD representative for free and they will be more than willing to help you. Please realize that there are many people calling HUD so you might have to wait a bit to speak to a representative. It will be well worth it for you to save your home though.
There are many companies out there that will be more than willing to help you to save your home and avoid foreclosure. Remember that these companies are doing you a service so they are going to charge you a fee. As with any industry there are going to be some companies that are cheaper than other. What is most important is that you save your home. The best option is to contact a HUD representative first.
Please check out our unemployment forum where we encourage you to post comments below whether it be a strategy you used to get a job, possible tips or links to those who are unemployed or even a rant about your previous employer and how they laid you off. Anything goes as long as there are no obscenities or direct insults to other posters.
Author: Mike Garner
Comments
4 Responses to “Home Loan Modification – Can President Obama Save Your Home?”
Leave a Reply
October 22nd, 2009 @ 1:14 pm
Great article Mike,
I’m a mortgage broker in the UK unemployed and facing foreclosure, at least your government has come up with a plan which is more than i can say for 10 Downing Street.
October 22nd, 2009 @ 1:15 pm
This is correct, Mike. People should do research about the program and watch out for loan modification scams. The Debt Zero Programs (d0p.org) website has free and easy guide to the program and list of people under investigation for scams: http://d0p.org.
October 22nd, 2009 @ 5:26 pm
[...] Subscribe to the comments for this post? [...]
October 23rd, 2009 @ 12:48 pm
[...] That’s a big number, Largest Transfer of Wealth to Financial/Political Elite in Global History, Home Loan Modification – Can President Obama Save Your Home?, and Commercial foreclosure crisis to swallow local [...]