How To Save Your Home With 3 Effective Mortgage Assistance Programs

Millions have already lost their homes or are in danger of losing their homes today. This is very devastating and the stress alone can break up a family and cause you to make rash decisions.

I know it's hard to think correctly when you have a family depending on you to keep a roof over their heads. But playing it cool by making calls and being patient can allow you not to miss out on some help that may keep your home safe while your rebuilding your finances.

You are not alone in this crisis. There are millions of people in their home today with jobs experiencing stress by not knowing if they will be layed off tomorrow or in the near future. The best thing for all home owners is to know what your options are in advance for more immediate help. Anyone with a home can lose it from misfortunes.

Proactive Steps When Your Home Is In Danger

• Learn everything you need to know about re modifying your mortgage to a more affordable monthly payment.
• Examine your finances and become very in-touch with what your expenditures are, and what is wasted on frivolous things in order to have more control and savings for your monthly payments.
• Include the whole family in on your financial situation. Your family will understand why a roof is better than two yearly vacations abroad.

How To Save Your Home When You Lose Your Income

1. The first time you miss a payment call a nonprofit (free) and get an advocate to get you an appointed case manager assigned to your case instead of dealing with the mortgage lenders harassing calls.
2. Never pay for a nonprofits help, sign over your home, or pay anyone other than your mortgage company without written approval from your lender.
3. If you had a reduction of income, your advocate can ask your lender for a forbearance (six suspension of mortgage payments) to allow you to reorganize your finances.
4. Improve your income base. Use this time to reduce your expenses and/or increase your income. Stop spending money on unnecessary lunches,lattes, and leisure.
5. Have your advocate get your mortgage reinstated with the same terms after your back employed. See if your qualify at http://makinghomeaffordable.gov
6. If you can renegotiate with your lender negotiate with your lenders investor which are Fannie Mae (http://fanniemae.com) or Freddie Mac (http://ww3.freddiemac.com). If one of them owns your mortgage you can find out on these two websites. There are some very useful information here for different financial situations.

3 Mortgage Assistance Programs That Can Save Your Home

1. Neighborhood Assistance Corporation Of America (NACA) Restructure existing mortgages and reduce interest rates http://naca.com
2. HUD Emergency Homeowner's Loan Program Help for out of work homeowners. You can have your mortgage paid up-to 24 months. http://hud.gov
3. Neighborworks America's National Foreclosure Mitigation Counseling Program (NFMC) Loan modification programs. http://findaforeclosurecounselor.org . You could get your payments down by $500!

We are not in this alone. Share this with everyone you know and save some homes!