Actually admitting to yourself and saying that I cannot afford my house payment is easier said than done. Many homeowners search for every way possible to keep paying their mortgage although most end up in failure. A severe financial crisis is often the cause of many foreclosures and admitting to yourself that you cannot afford the home you are living in is tough. The rising foreclosure figures in all 50 states are a sad reminder that you are not alone. Millions of people just like you are going through severe financial trauma and are exploring ways to avoid foreclosure from ruining their credit and family life. The phrase I cannot afford my house payment is one that we hear all too often.
The government will not help you. Congress will not help you. There are programs in place, but many of these are controlled by big banks and the millionaires on Wall Street. If these programs actually worked, millions of people would still be inside of their now foreclosed upon homes. There is not a lot of information that you can find on the Internet that will help you. This website is one of the few free information resources to help you beat foreclosure without making you buy an e-book or something else of value. Breaking down the walls of information and getting the help you need is provided by us.
I Cannot Afford My House Payment and Where Do I Get Help?
There are a couple options that you can try on your own without professional intervention. The first route is pleading with your bank or mortgage lender in a hardship letter to receive forbearance. Each institution will have its own criteria for what should be included in these letters. At minimum an explanation of what caused the problem, what you are doing to solve it and how much money you earn each month should be included in a letter. This letter should be sent immediately when you miss your first mortgage payment. It is hard to get approval if wait until you are many months behind.
The second route is petitioning your lender or bank for a loan modification. These is another written request that explains your circumstances and asks politely that your mortgage be reconsidered for a reduction in interest or principal. A loan modification can be achieved, but the success rate is not something that is actually published by lenders. Some people get approved and some do not. The only problem with modifications is that they take a really long time. If you are nearing a sale date for your property, it is unlikely that a loan modification will help you.
“I Cannot Afford My House Payment”
We are specialists in stopping foreclosure here at www.AvoidForeclosure.com. We know the difficulty, tragedy and personal struggle that you face when trying to make ends meet. You do have rights as a homeowner and a person. Lenders and banks are rarely sympathetic to your needs and what you deserve is someone fighting in your corner. We help people every day that are in the same situation as you or someone you love. We can find the right solution for you at no cost to help you stop foreclosure. If you call 1-800-589-4106, you will never again have to say I cannot afford my house payment.