Credit-Yogi is part of a family of sites that have been offering free advice to consumers since 1999. With a database of over 160,000 financial and legal professionals, help is just a call or click away.
You Are Never Alone With Credit-Yogi
PR-Inside.com: 2015-12-15 18:48:19
Foreclosures have gone through a decrease over the past decade, but that doesn’t mean they don’t still happen. People who have recently gone through divorce or financial setbacks sometimes have to face the possibility of losing their homes to their lenders. However, the Obama administration has devised a stop foreclosure program for all of these folks. Credit-yogi.com is here to explain them and how to access them, including:
• HUD Assistance
• Local Lender Options
Home Affordable Modification Program
The Home Affordable Modification Program (HAMP) has been around since 2008. One thing that has not changed is the effectiveness of this program’s stop foreclosure help. For folks who’ve lost one household income or who’ve had a long-term medical issue crop up, HAMP can modify a mortgage so it has a lower interest rate or a longer repayment term, both of which lead to a lower, more affordable payment. Apply for HAMP with any participating lender.
Home Affordable Refinance Program (HARP)
When a mortgage loan is refinanced, it is paid in full and a new one is crafted. The new one will have better terms, lower interest, or reduced principal, making it easier to handle. An applicant must be current on his mortgage and have been unable to obtain a conventional refinance due to his home’s value having decreased. This stop foreclosure program is open to almost anyone, and can be accessed through lenders that are enrolled in it.
If you are considering refinancing your mortgage Credit-Yogi.com can recommend reputable mortgage lenders in your area to compare rates and quotes as well as advise you of your options. Simply fill out this request form to get started. goo.gl/G71FAm
Help from HUD
Through the Making Home Affordable program, the Department of Housing and Urban Development (HUD) is able to offer people in need some excellent stop foreclosure help. Credit-yogi.com looked into this foreclosure prevention plan and found that it provides different options for specific problems. For example, someone can apply for the Principal Reduction Alternative (PRA), which is meant for those whose homes are worth much less than what they owe on them. HUD also provides help to recently unemployed homeowners. Check the HUD website for more details.
Don’t face this dilemma alone. Credit-Yogi will arrange a free, no-obligation consultation with a mortgage professional in your area who will advise you all of the legalities that apply to both you and the mortgage company. Simply complete the information request form and Credit-Yogi will do the rest. goo.gl/wSjCKp
Area Lender Choices
Local banks may offer a stop foreclosure program such as refinancing or modifying a mortgage, but it may not be one’s original lender that does it. Many times, for reasons of their own, original financers do not wish to refinance or make changes to (modify) the mortgages they wrote and approved. In such cases, a borrower will need to look to other lenders. There are different banks, credit unions, and mortgage companies that are willing to help those seeking these options. Be sure to put some time into comparing rates and terms to find the very best, lowest ones.
Created in 2004, Credit-yogi.com took aim at one goal – to supply accurate, rapid responses to the financial questions of consumers. With a database of over 160,000 legal and financial professionals, the website has steadily succeeded in meeting that goal, resulting in endless repeat customers. To obtain a cost-free preliminary conference, dial 1-866-964-9644, any time 7 days a week.
Oconco Marketing, Inc.
176 Brown Street
Pittsfield, Massachusetts 01201
# 626 Words