The housing crisis continues to be an overwhelming concern for Americans and it’s nowhere near over. Analysts believe more than six million people could lose their homes in the next three years. It’s a staggering number, especially when you consider the damage that has already been done.
Are you doing anything to secure the future of your home?
Obviously, no one wants to be apart of the six million homeowners that may face foreclosure, but are you doing anything about it? The government has set up the Home Affordable Modification Program to help, but only 12% of homeowners eligible for the government’s loan modification assistance program have actually had their mortgages reworked.
This means there is a lot of government money on the table right now dedicated to modifying loans that hasn’t been used. Millions of people can still qualify for lower monthly payments.
The simple truth, though, is most homeowners need help to get a modification. So many people unsuccessfully try it on their own and then end up contacting a company for help. The lenders can make the process overly confusing and it becomes very easy to make critical mistakes that ultimately get you declined.
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