Saturday, March 7, 2009

Mortgage Relief Resources for Homeowners

The Obama Administration just announced new details to help 7-9 million families avoid foreclosure by refinancing or modifying their existing mortgages. Wondering if you or someone you know qualifies for the "Making Home Affordable" program?

You may be eligible if either of these apply:

1. On your first mortgage, you owe about the same or slightly less than the current value of your home.
2. You are paying more than 31% of your gross monthly income on your mortgage.

Get more information:

• Mortgage Relief Plan: the details
• Self-assessment tool: see if you’re eligible for mortgage relief
• Homeowner’s HOPE Hotline for urgent help: (888) 995-HOPE

(Source: Trulia.com)