Brief mentions of aid available to help homeowners in the media has created a demand for organizations offering the help. Recently, the National Homeowner’s HOPE Hotline, and the Neighborhood Assistance Corporation of America (NACA) came forward with two separate announcements offering assistance, and were bombarded with inquiries and calls from buyers looking for help.
Non-profit organizations such as those mentioned work with borrowers in different ways. Some offer debt counseling, and assistance with credit matters. Others work with banks and lenders to try to determine the best course of action for a homeowner. In some cases, homeowners are allowed to refinance their loans, saving money, and the home. Others are advised to sell, in cases where their properties become unaffordable, or when the homeowner’s financial condition has changed.
» Avoid Mortgage Rescue Scams from PropertyMaven
In this, the season for mortgage fraud, it’s important to note that there is also “mortgage rescue” fraud. Yesterday, I mentioned a couple of programs created to help buyers who are victims of sub prime loans. Today, just... [Read More]
Tracked on: August 29, 2007 5:47 AM | Permalink to Trackback