Mortgage Modification Press
- Judge: Homeowners must fight for rights
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SaveMyHome Press Releases
Veterans' Options for Avoiding Foreclosure
February 16, 2010. Loan holders and homeowners agree on one thing: Avoiding foreclosure often involves a nightmare of confusing regulations and paperwork. This is especially true for veterans with GI-backed loans, according to a Save My Home spokesperson pointing to a Veterans Affairs statement: "Under most circumstances, GI loan holders are required to accept payment of the full delinquency and reinstate the loan. If your loan is modified, the delinquency is added to the loan balance in order to bring your payments up to date. Your loan holder is allowed to extend and/or modify your loan by VA regulations; however, we cannot require the holder to do so…." (Source: US Department of Veterans Affairs, April 22, 2009)
GI-backed home loans are covered by important rules and options that may help homeowners. Negotiations are often the only way to get a full discussion of possible homeowner benefits.
The SaveMyHome Program
SaveMyHome connects GI loan holders with attorneys who are expert in loan modification for veterans.
This is a great time to get your mortgage renegotiated. Washington is pressuring the banks to help homeowners with relief that may include lower interest rates and longer repayment periods. Unfortunately, the numbers of people who have benefited from government homeowner assistance is far less than hoped for. Many people who are qualified for assistance will fail to get a modification because of the complexity and changing requirements. This is why it is essential that you have an aggressive real estate attorney to handle the process for you and assure that you get the best possible solution to your problem.
SaveMyHome provides a free evaluation of your current situation from information that you provide us. As part of the service, we will review your current mortgage loan obligation, income, and monthly expenses to determine if you are a good candidate for mortgage modification.
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This is a great time to get your mortgage renegotiated for you. There is pressure from Washington on the banks to help homeowners. The Obama plan aims to help borrowers in financial trouble by making their payments more affordable. Modifications made under the program include a lower interest rate and often a longer repayment period. The results in numbers of people helped have been less than hoped for. Mortgage companies say they have struggled to get back the necessary paperwork, while homeowners and housing counselors say navigating the bureaucratic maze often seems impossible. This is why it is essential that you have an aggressive real estate attorney to handle the process for you and assure that you get the best possible solution to your problem.
