Spokane Valley, WA -- (SBWIRE) -- 06/15/2011 -- A website dedicated to helping homeowners navigate the process of loan modifications is getting a lot of attention as the housing market struggles to recover.
With the looming threat of a double-dip recession, making-homes-affordable.com is helping families across the country stay in their homes by offering excellent customer service along with plenty of information about loan modifications and the federal Making Home Affordable Program.
Thousands of users have turned to this website, gaining the knowledge needed to avoid foreclosure without putting an added financial burden on their families. Making-homes-affordable.com is the only place on the web to find the most current and updated information on the federal program in a way that is easy for anyone to understand.
The Making Home Affordable Program went into effect as part of President Obama’s housing recovery plan and is expected to help between seven and nine million families avoid foreclosure by restructuring or refinancing their loans. The plan is intended to help responsible homeowners out of foreclosure and help bring stability back to housing markets across the country. Foreclosures aren’t only devastating for homeowners, but defaults and foreclosures bring down surrounding property values by as much as nine percent.
It’s important for homeowners to have an online destination that will keep them updated on developments and all the details associated with the Making Home Affordable Program, especially with so much misinformation and rumors being spread around.
As part of its commitment to providing readers with accurate and current information, making-homes-affordable.com recently added an update page featuring up-to-the-minute news about the state of the Making Home Affordable Program.
For those who may not quality for the program, the site offers thorough information on several other loan modification programs so homeowners never hit a wall. The makers of this site have done everything possible to ensure there is always hope, and plenty of options for struggling homeowners.
“Banking institutions benefit from these loan modification programs because they allow homeowners to continue to pay on their mortgage instead of having to foreclose on the property,” the website’s founder, John Klinter, said. “Even though banks gather a smaller amount of money from individuals, more homeowners are capable of repaying their home loans.”
Most mortgage companies benefit by keeping homeowners out of foreclosure, yet those who don’t know how to file the correct documentation or what resources are available often end up in the clutches of foreclosure anyway. This further underscores the importance of having a valuable online resource to turn to.
For more information on the Making Home Affordable Program and other home loan options, visit: http://www.making-homes-affordable.com.