Mortgage Restructure That Saves You Money
Millions Are Getting Their Home Loan Payments Reduced
If you’re behind on your mortgage payments, or worried about how you’ll make the next one, join the 1.5 million+ families who received mortgage restructure.
Half a million troubled homeowners have seen their loan payments lowered under the Making Home Affordable program.
Unaffordable mortgages are now being modified at a pace faster than homes are being sold in foreclosure proceedings.
Half a million families are participating in loan modifications that are substantially decreasing their housing costs.
Roughly 40 percent of the 1.2 million homeowners deemed eligible for loan modifications under the Making Home Affordable Program have received them.
Many homeowners continue to complain that seeking loan modifications can be frustrating and seemingly futile:
- Mortgage companies routinely lose documents and require them to resubmit their files repeatedly, while giving them incorrect fax numbers and leaving them on hold for hours only to receive contradictory instructions from customer service officers.
- Some mortgage companies assert they cannot modify loans because they merely send out the monthly bills, while the mortgages are owned by investors. Yet industry insiders say many mortgage companies actually profit by delaying the process and keeping homeowners in long-term delinquency, extracting myriad fees along the way.
Unacceptably large numbers of families across the country are still at
risk of losing homes they could otherwise afford to stay in.
The MHA program was advanced with the promise that it would eventually spare up to four million households from foreclosure.
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