New Help for Homeowners: New Website Shows Homeowners How to Freeze or Lower Their Mortgage Payments, Turn The Tables on Mortgage Lenders

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The Bush Paulson mortgage freeze offers relief to only a small number of homeowners. A new website, Mortgage Relief Formula, shows all homeowners little known techniques to get lower payments without refinancing, or sell their house even when they owe more than their house is worth -- and restore their credit.

Homeowners who cannot afford their mortgage are using little-known techniques and tricks that lenders probably wish they did not know about.

These almost-secret techniques are outlined in the new Mortgage Relief Formula which is available for the first time.

The Mortgage Relief Formula at gives a homeowner a range of free and paid tools and help for lowering their payment without getting a new loan.

But wasn't the Bush Paulson adjustable mortgage freeze plan supposed to work this way?

According Richard Geller, developer of the Mortgage Relief Formula, "the freeze plan only applies to a select few homeowners and not the vast majority."

"The freeze leaves homeowners in a lurch," Geller said. "And lenders don't want people to know the truth."

According to Mr. Geller, there is a technique that any homeowner can use that gets their lender to bend over backwards in order to help lower their payments.

Geller explained that this technique involves putting yourself in your lender's shoes and something called a BPO, or Broker's Price Opinion.

"If you think like your lender, you can stay in your house with lower payments. Or if it's more appropriate, you can get out from under and sometimes improve your credit."

The BPO is part of a package that you give to your home loan lender. It convinces them that it is in their best interests to stop your foreclosure or give you more time to make up past payments.

"People need this information," Geller said. "The lenders aren't going to tell you this stuff. But if people knew what they could do in terms of getting lower payments, they'd be shocked."

Foreclosures have doubled year over year, and this puts the homeowner in a position of leverage and power with their home loan company.

"Mortgage Relief Formula puts the homeowner in control. It's the power of information" says Geller. "Anyone can use this information to lower their payments, sell when there are supposedly no buyers, and restore their credit."

There are over close to 100 free articles on the site that can help a homeowner learn how to do a grant deed in lieu of foreclosure, quickly sell their home in nine days without fix-up even when there are "no buyers", and slash credit card debt without bankruptcy.


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