All over America there are people struggling to survive on limited income and it is even harder for those fighting to keep their homes. More often than not people will freak out completely because they feel there is no hope for them. There is now hope with the introduction of loan modification. A mortgage loan modification has the ability to help those facing the possibility of losing their homes to foreclosure.

Most people do not utilize this option because they are not aware of it. If you were to ask for a mortgage modification loan and if you qualified for the program you could expect your current mortgage rate to drop up to 2%. This mortgage modification plan was created to help struggling homeowners save some money and if needed use the money they save to pay off any outstanding debts. It is possible to save up to $5,000 a year and most lenders and banks will help get any late fees that you may have gotten waived as part of the loan process.

If you approach a lender and they begin to force your hand, you should distance yourself from them quickly. No third party should as you for any sort of payment when asking information or trying to qualify for the mortgage loan modification program. The government will also tell you that you should not have to pay them anything when working towards a loan modification. No third parties should ask you for payment because this program is offered free of charge and any information being offered regarding the loan modification program should also be given free of charge.

Looking into any lender or third party is very important because if you don’t do your research you may be getting scammed. If approved for the mortgage modification program you can finally end those harassing calls from collectors and catch up on your bills. Stop foreclosure and keep your home, apply for a mortgage modification loan and get back on your feet.

-M Petrone
http://www.RefinancingCondo.com

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