One Organization Helps To Legally, Ethically, and Affordably Rescue Families from Pending Foreclosures

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Homeowners across the USA are getting saved from the auction block by letting HomeSaverProgram.org legal and financial mortgage professionals negotiate with lenders.

I understand how people just sit back and do nothing, but that's not the answer

Amid all of the tragedy, doom, and gloom one special organization, HomeSaverProgram.org, is offering homeowners like Jamillah Reed its own successful type of foreclosure rescue plan.

Reed, a single parent with two children who owns a home in Florida learned about loan modification first-hand, while trying to save her own home that was scheduled to foreclosure in February 2009. "Then they moved the sale date up to December 2008," she explains. "I lost weight. My hair was falling out, and I couldn't sleep." Reed requested a loan modification herself, but her lender delayed for about six months and then told her she was ineligible. So she contacted HomeSaverProgram.org and the organization assigned a team to push the case on her behalf. Soon the mortgage company agreed to a loan modification that stopped the foreclosure.

Reed's interest rate was slashed from 11.50 percent to 4.50 percent and the loan was changed from a high-risk adjustable rate loan to a reliable fixed rate mortgage. The house payment also fell more than 45 percent, from $1,490 to $798.

Loan modification is a process that involves changing the terms of the existing mortgage to make it easier for the borrower to make payments on time without unnecessary hardship. Loan modification sometimes allows the borrower to make smaller monthly payments or pay the loan back over a longer period of time - which also results in lower monthly payments. A loan modification can even mean that the lender agrees to forgive missed payments or reduce the total amount of the principle or outstanding balance owed on the mortgage.

As part of his strategy to attack the foreclosure crisis, President Obama launched the Home Affordable Modification Program. Under the new initiative, millions of borrowers who are current on their payments but are afraid of falling behind - and millions who have already missed one or more payments - may be eligible for a loan modification that reworks the terms of the original loan to make it more manageable.

The ways to solve a foreclosure situation are many, but the opportunities to do it are limited. Anyone trying to save a home should act swiftly, and get as much expert help and legal guidance as possible in order to ensure that the effort succeeds. Otherwise it is usually too late to try again.

"I understand how people just sit back and do nothing, but that's not the answer," says Reed, who emphasizes the importance of getting help fast. "I faced my problem just in time and that's the key. Reach out for help, because it really is possible to save your home."

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Darvin Legaspi
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