Assist-2-Sell, the leading full-service discount real estate company, is encouraged by this week's announcement that six of the nation's largest mortgage lenders will reach out to homeowners most at risk of losing their homes through a new plan known as "Project Lifeline."  The Company is also pleased to see such strong support for the plan come from the White House, the U.S. Treasury and the Department of Housing and Urban Development. 

Project Lifeline (http://www.hopenow.com/) helps homeowners avoid foreclosure by temporarily suspending the foreclosure process for 30 days.  The plan will initially involve Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc., and Wells Fargo & Co.  Homeowners who are 90 days or more behind in payments on any type of mortgage, not just subprime loans, can use the extra time to work with their lenders on more affordable loan terms.

Michael Sinton, Broker and Owner of Assist-2-Sell Buyers & Sellers Edge in Hamilton, NJ had these comments on Project Lifeline:

"We've all become so accustomed to seeing statistics about foreclosures and short sales and declining home prices.  We have to remember that these aren't just numbers.  These are people; these are families.  So it's a good thing when steps are taken to help people on the brink of foreclosure.  Any time you can keep someone in their home, it is good for the family; it is good for the community; it is good for the economy; and it is good for America. 

"It's unfortunate that so many homeowners are truly afraid they will lose the home they worked so hard to put over their head.  They shouldn't feel alone, though, and they shouldn't avoid the problem.  There really are options.  We encourage homeowners who are in trouble with their mortgages to use this extra time to get help.  They shouldn't wait any longer.  Resources, like Project Lifeline, are available to them.  This extra time just might be enough to save their home.

"Project Lifeline is only a start, though.  We hope these and other lenders will take their efforts further by making changes within their own organizations.  Resources are tapped, which means foreclosures and short sales are piling up on people's desks, homes are sitting on the market for months on end, interested homebuyers are walking away after weeks of waiting, and distressed homeowners are going further and further into debt.  The longer mortgage lenders take to address their own problems, the longer recovery will take."

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.