Home Affordable Modification

by Kate Ford
(Get-Your-Best-Mortgage-Rate and Prime-Real-Estate-Articles)

Hi, Kate Ford here with Home Affordable Modification news. In many cities across the United States, the real estate market has suffered for several years. I'd be foolish to dispute the declining home values.

In spite of this and even though my crystal ball felt out of sorts last year, I believe 2010 brings hope for you, for me, and for homeowners across the nation.

Making Home Affordable Programs

By now, you've probably heard of HARP. And for those who haven't, not the musical instrument! HARP also has a related program but not for refinancing.

While HARP is short for Home Affordable Refinance Program, HAMP stands for Home Affordable Modification Program.

Long story short, HARP and HAMP are buzzing because of the hope the programs offer homeowners whose mortgages exceed property values. Good news, some people are discovering assistance in HARP and HAMP. Yet others, not so much.

Take for instance, Paul from Virginia. His mom applied for a Home Affordable Modification but was told she had too much equity in her property.

"Lucky her," many folks muttered after their last round of plummeting real estate values. "At least she has equity."

However when you find out about her current mortgage payment... Well, keep reading but I'm sure you can already see the handwriting on the wall.

More About Paul's Mother

Please read the letter from Paul on behalf of his mom. Click on this link which will take you directly to his letter on my website Prime-Real-Estate-Articles -- Paul's Mom and Home Affordable Modification. It will touch your heart. It might remind you of a loved one or even your own situation.

While you're there, I hope you'll leave a comment for Paul and his mom or ask a question of your own.

Best Wishes for the New Year,

PS Spread The Word

With that I am signing off until next time. But let me leave you with another thought. I depend on word of mouth! I hope you'll spread the word by sharing my websites with your friends.

Copy my web addresses to paste them into your email:
www.get-your-best-mortgage-rate.com
and
www.prime-real-estate-articles.com

Remember, you can Ask Kate YOUR question right here too.

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