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Hope: The Early Years!
Making Home Affordable and Stimulus Refi Programs are now the hot buzz words in mortgage land. But exactly what are they and who qualifies for help? Folks in financial distress need to know they have options. But how do you find out what those options are? Most banks and mortgage lenders are just finding how what to do about the high percentage of folks coming in for whom we have no classic answers. And we just hate saying "No" or worse yet: "I don't know!"  Fortunately, the Obama administration has seen fit to refine the original Bush 'Hope For Homeowners' program. Since the original Hope roll out was something of a disaster, the current plan looks pretty sweet by comparison although real results are yet to be seen.
Where Do You Start?The phone number on your Mortgage Statement will direct you the accounts payable department. If your loan is in some state of default your case may have been escalated to the not quite so nice folks in 'loss mitigation', glorified collection agents hired by your bank to make you pay...or else. These contractors have a similar goal: keep you in the highest possible loan instrument so the bank makes the most money ad infinitum.
Loan Modification...what is it? The ... more

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