Washington, DC (PRWEB) December 12, 2007
On December 6th, the Bush administration proposed a new plan to help the nearly one million U.S. homeowners that may lose their homes to foreclosure. The plan has been referred to as the Mortgage Bailout plan, or even the Mortgage Relief Program.
Homeowners Educational Resources (HER), a non-profit organization, has recently launched an initiative to help victims of mortgage fraud better understand what the Mortgage Bailout plan is - and how to know if they qualify.
Their web site, Mortgage-Bailout.com, is a simple outline that educates homeowners that the plan is not designed to forgive their debts, but instead to freeze mortgage interest rates which prevents an increase in their monthly payments.
The web site also discusses the potential disadvantages of the Mortgage Bailout plan, and provides a list of helpful organizations and agencies that can be of great assistance to them.
Government officials, loan officers, and mortgage brokers have all been heavily criticized for not properly educating homeowners about their loan options. Because of this, many organizations like Homeowners Educational Resources have stepped up to the plate to help people know what they are getting themselves into.
For more information, interested ones should visit:
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