Phoenix, AZ -- (SBWIRE) -- 03/17/2014 -- While the incidence of mortgage foreclosure has decreased over the past decade, it still happens. This is a scary, nerve-wracking situation to be in, but there are several steps a person can take to get out of it. One is to declare bankruptcy, but this is a last resort. Credit-yogi.com can help people find other solutions to this problem, including:
- Mortgage Experts
- Non-Governmental Solutions
- Governmental Assistance
- Local Lenders
The first step a person should take to stop foreclosure is to contact a mortgage professional. These are specially trained people who understand the ins and outs of avoiding foreclosure. They can help a person choose the best option for his situation. Sometimes a simple refinance is in order; other times, accessing governmental help may be more effective. Credit-yogi.com has been assisting consumers in foreclosure avoidance since 1999, and can provide aid to anyone in this untenable situation.
These aren’t as bad as they sound. They can actually point a person to a website to get them the help they need to avoid foreclosure altogether. These businesses also have their own mortgage modification and refinance programs. To clarify terms, modification is a change in one’s mortgage loan; refinance pays off the original loan and creates a new one. These corporations are not associated with the government, which means they can help from within, resulting in faster resolutions to this problem.
Aid from the Government
In 2008, President Obama created the Making Home Affordable (MHA) program to help struggling homeowners keep their homes. If a person is asking himself, “Can you face foreclosure and not know where to turn?” here is his answer. The HAMP program modifies one’s mortgage to reduce the interest rate or principal of it, making it easier to afford. HARP, HAMP’s sister plan, refinances a home loan to reduce the amount due each month. HUD also has plans to help out those living under the threat of foreclosure. Credit-yogi.com suggests accessing the government’s website to learn more.
If utilizing mortgage experts is not an effective solution to halting one’s foreclosure problems, talk with area lenders such as banks and credit unions to find out what they can do. Often, they have in-house refinance or modification programs. Generally, their interest rates are reasonable. Keep in mind that credit unions are known for their lower interest rates to get the best possible deal. They may also be able to suggest where one can find bankruptcy to prevent foreclosure programs. These are available through law firms that specialize in foreclosure prevention.
Established in 1999, Credit-yogi.com is still working hard to connect people who have financial difficulties to the help they need. Knowledgeable staff members will compile an analysis of which programs a person qualifies for, as well as doing their best to reduce a mortgage payment considerably. The website is available all day, every day, year round. For a free initial consultation about one’s fiscal position, dial 866-974-9644.