This week I want to take a little different spin on the troubled home market; there is always alot of talk about it, but is there any help? If you know of someone who is having trouble with their current mortgage and needs help, I have some tips for you.
Your family or friend may be eligible for relief under the President's initiative announced in mid-December; it is designed to help stem the tide of defaulted subprime mortgages. The most important part of this service is an interest-rate freeze, but it does not apply to all borrowers. Here's what a party in trouble should do:
1. Call the national counseling hotline at 888-995-4673.
2. Expect to be on the phone with a counselor for 45 minutes or more.
3. Expect that the counselor will recommend a course of action if a person is eligible.
4. Service providers are flexible and tend to be pretty helpful.
5. Refinancing is the typical solution for most borrowers but there are other alternatives.
The most important advice you can give your family or friend is to encourage them to call the hotline ASAP and start the process of seeking a solution; waiting could make any remedy impossible.
This weekend is the Pre-Birkie race from Lake Hayward to Hwy OO; sponsored by the local Lions Club this is always a great event. Come on up and enjoy the fun!
Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
