Yes, we are in a market where almost every other home for sale is experiencing a pre-foreclosure. What can you do as a homeowner who is struggling to pay their mortgage loan, speak to your lender about a remodification. Banks these days are suppose to negotiate with homeowners who are having a difficult time paying their mortgage due to the increase of their adjustable interest rate loan. They must NEGOTIATE! If you call your lender and they give you the run around you as a consumer have the right to call your local banking commission and put in a complaint. That's right! Why should you loose your home because someone is not willing to work with you on your financial situation. Or better yet, end up selling your home and having to move back in with your in-laws. Stay in control of your life, if you find yourself in such a situation, speak up. Better yet, contact your local congressman. Get someone on your side to help you during these trying times. A useful resource guide to homeowners is the Hotline: 1-800-Call-FHA. Remember, never pay a fee to have someone help you remodify your loan.
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