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The Subprime Crisis - Is your home at Risk?

By
Mortgage and Lending with Bank of America
It's all over the news Subprime companies are in the midst of a true crisis!  I have witnessed so many lenders who have simply closed thier doors for good.  Even more disheartning is the number of people I run into who are facing foreclosure and they have NO way of avoiding it.  It is SO important to take immediate action the minute you recieve ANY kind of notice regarding debt collection attempt on behalf of the mortgage company or any kind of pre foreclosure notice.  There are plenty of loan officers that can refinance someone out of a foreclosure.  If it caught early enough and the loan is structured correctly, they usually can help the borrower - get a fresh start and save their home.   If anyone is struggling to make their mortgage payments, your best advice to them is to not be in denial about the potential dangers and seek help sooner than later with a trusted advisor or lender.