As most everyone knows by now, the year 2007 has been a year of mortgage turmoil that is affecting more and more families throughout the U.S.

Many people are being forced into foreclosure due to their loans resetting to a higher interest rate.  Alot of homeowners are in despair and denial and will not talk about their problems with anyone until it is too late for help. Some will just walk away from their homes. 

There may be help... 

Homeowners must ask for help as quickly as possible. Lenders do not want to foreclose on your home and have workout options that may keep you in your home until you get on your feet. These options work best if you are not too far behind on your payments, one or two at the most.

The Federal Housing Authority (FHA) has started a new refinancing program called FHASecure. Under this new plan the FHA will allow people with strong credit histories until their loans reset to a higher interest rate to qualify for refinancing. This program may allow homeowners to keep their mortgages longer by refinancing into a lower rate. You can find out more by visiting the FHASecureSite. 

Whichever avenue you follow, PLEASE get help as soon as possible. Your home may depend on it.

 If you are thinking of buying or selling your home in Jacksonville, Fl. , please call me at (904) 874-3569. You can also email me. I look forward to helping you with all of your Jacksonville real estate needs.

Sincerely,

Tara Painting, Realtor

Silverman Realty Inc.