California currently has one of the highest foreclosure rates in the country, with over one million foreclosure filings to date! In fact, California had the fourth highest foreclosure rate in the United States, with over 630,000 homes receiving a foreclosure filing in 2009, according to a year-end report by RealtyTrac.com. San Bernardino County is just one of the major areas being affected by our current housing crisis, with the cities of Apple Valley, Chino, and Redlands being hit the hardest. If you are one of the many people to be affected by the housing crisis, don’t hesitate to contact HomeStart to find out if you qualify for a loan modification. Even if you are already behind on payments, it is not too late to act!
The Obama Administration has created a plan called the Homeowner Affordability and Stability Plan to save the struggling housing market, also known as HASP. By modifying distressed mortgages, HASP will help struggling borrowers to stay in their homes. Lenders actually prefer to modify loans because it is less expensive than the costly foreclosure process, but HASP gives lenders extra incentive to lower monthly mortgage payments. Lenders will receive $1,000 for each completed loan modification and can also receive an additional $1,000 a year for up to three years, if the borrower makes consistent payments. In addition, the borrowers could receive a principal balance reduction of up to $1,000 a year, for up to 5 years, for making consistent payments.
HomeStart is an A+ BBB rated mortgage loan modification company ready to help you with this difficult process. HomeStart offers free consultation to determine if you qualify for a loan modification and has experienced loan modification specialists ready to answer any foreclosure and pre-foreclosure questions you may have. The fact that HOMEstart was honored as an A+ rated mortgage loan modification company by the Better Business Bureau signifies that HomeStart is operating in a trustworthy manner, and has never received a customer complaint. HomeStart is the only business in California with an A+ rating from the BBB in both loan modification and real estate loan modification.
Given our tenure and attention to customer service, HomeStart has been successful with close to 90% of submitted loan modification applications. Contact HomeStart at any time to discuss your financial hardship. We will listen and maintain the highest level of confidentiality. Our team of experienced loan modification consultants will help answer any questions you may have, regardless whether or not you pursue a loan modification through HomeStart. We are here to help; start new, not over.
For more information please visit www.YourHomestart.com