How the Foreclosure Crisis Happened and What You Can Do About It
Loan defaults and foreclosures are at an all-time high, and most national markets are in decline. This is largely due to mortgage interest rates that are adjusting upwards and the lack of affordability on the borrower. Military families have seen some of the most significant increases in foreclosure.
Many attempts, mostly unsuccessful, have been made by lenders and government agencies to facilitate an economic stimulus and real estate market comeback by offering incentives and access to loan modifications through various programs and government legislation.
A loan modification provides either a temporary or permanent change in one or more of the terms of a borrower’s mortgage, resulting in a more affordable mortgage payment. The reality is that the state of the economy, slated to be one of the worst recessions since the Great Depression, is not easily overcome.
The situation is partly due to the faulty lending practices by lenders nationwide over the past five years or so, during which government agencies turned their watchful regulatory “eye,” and brokers, agents and borrowers exploited available finance programs.
We at The Homeowner Defense Network believe that most homeowners armed with knowledge of the loan modification process can obtain a loan modification on their own without having to spend thousands of dollars for a loan modification.
There are, however, circumstances in which a homeowner may need or find it beneficial to pay for professional assistance. Some of these situations include if you are facing foreclosure, have a complicated financial situation or have reason to believe you were the victim of unfair or predatory lending practices.
In these cases and more, a great need has been created for this type of service. Unfortunately, there are many unethical companies looking to exploit vulnerable homeowners. Our objective is to provide distressed homeowners across the country with resources, knowledge, assistance and access to a network of attorneys and professional organizations specializing in protecting homeowners.
Created by industry experts, Loan Mod D.I.Y. will teach you the secrets and tips that lenders and the loan mod industry don’t want you to know. Attempting a loan modification on your own without first educating yourself on the proper steps and strategies is extremely risky, since lenders may not have your best interest in mind. ONE seemingly minor mistake could not only cost you thousands of dollars, but it could be the difference between getting your modification approved or not approved. Don’t delay, since time is not on yoru side and sign up today.