Everyday you hear and read more bad news about the housing market. "Foreclosures are expected to rise in the New Year" is the headlines that you have heard so much lately that many of us have started to ignore the news. The economy is bad, there are endless reasons that it may or may not get better, but what really does all this news mean to a person who is currently facing foreclosure? Absolutely nothing.
If you are facing foreclosure you are not interested in how bad things are getting or that countless other people are suffering the same problems. You, as a homeowner, want to know how you can stop foreclosure and keep your home.
The answer is simple: Loan Modification. A loan modification can reduce your monthly payment and make your home more affordable at your current income rate. Your loan will be brought current again and you will have stopped any foreclosure proceedings that were pending or in process.
Loan modification is an intricate process that should be handled by an experienced professional that deals with this type of program daily. Loan modifications can be complicated and failure to complete the application correctly will result in a denial.
A denial must be taken very seriously. You can only apply and receive a loan modification one time during the life of your mortgage. If you are trying to avoid foreclosure or stop a foreclosure you do not want to leave your paperwork to chance.
Loan modification paperwork was made to discourage people from using the program. Like many other large institutions, the paperwork was created to frustrate and deter people from using the program. Lenders may claim they want to avoid foreclosure proceedings, but in reality they loose nothing during a foreclosure. They retain the assets and resell the home later. On the other hand, you as the current homeowner, lose everything if your paperwork is denied.
Do not take the chance of receiving a denial. Have your loan modification paperwork prepared by a professional. This simple step will make all the difference in your quest to save your home. A professional service can make sure everything is prepared and submitted properly. They will ensure that supporting documentation is attached and that it is received by the proper people at the lending institution. It is a safe and easy way to stop the headaches and heartaches associated with foreclosure.
Choose to Foreclosure Stop by becoming educated about options like loan modifications available to home owners. The Stop Foreclosures Right website is intended to be a source of knowledge for those unable to make current mortgage payments or facing foreclosure.
Article Source: http://EzineArticles.com/?expert=Andrea_P
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