Loan modification programs
There are thousands of different loan modification programs out their.
The government, specifically President Obama, has recently began a big shift to start promoting and facilitating loan modifications in favor of foreclosure and bankrutcy. They have started a new program that has offered incentives to both the homeowner and the lender for a successful loan modification. They have designated 75 billion dollars to saving homes from foreclosure. That is a huge amount of money, you can take advantage of that money, that money is meant for people in your situation.
There also may be specific programs within state governments relating to the modification of loans. Check out your state’s website and search for anything related to loan modification and the loss of one’s home. Losing your home not only stinks for you, it stinks for the state. They no longer get to collect property taxes and the more foreclosures the worse the state looks on the outside.