Another part of the recent housing bill that was passed included $300 Billion to provide affordable fixed-rate mortgages to people that are near or at the beginning of foreclosure.
The loans will be Federally insured and allow people to remain in their homes while paying off their debt at a reasonable rate. They estimate that 400,000 homeowners will benefit from this help.
If you are struggling to pay your monthly mortgage payment then contact the HUD counseling agency - 800-569-4287 where someone will help figure out what is best for your situation.
During difficult times it is easy to throw away mail and ignore phone calls hoping that things get better. With so many foreclosures banks are more willing to work with homeowners that are struggling to meet their payments. I
There is help available and now is the time to make that first step by calling to see what you can do to help yourself and your family.