CARLSBAD, CA--(Marketwire -08/17/12)- American Homeowners will benefit from billions of dollars to reduce principal and rates on their mortgages in troubled times. TheMortgageGuide.org will help thousands get their fair share. The money was set aside for homeowners with hardship thanks to pressure on U.S. Banks from Congress, the Justice Department and the U.S. Department of Housing and Urban Development, as well as 49 state attorneys. The Nation's banks have finally been forced to address the crisis that has caused much difficulty for homeowners, including foreclosures and loss of homes.
In the past several years, loan reductions have helped hundreds of thousands of people drop principal, lower mortgage rates, and reduce payments. but many homeowners still haven't taken advantage of the programs available because it was too difficult or they haven't known where to begin.
Now things have changed.
Officials from Bank of America, Wells Fargo and other banks have even set up their own lender-specific reduction programs to help customers that don't qualify for standard principal/rate reduction government programs. These banks are trying to help as many people as possible but there are millions of incomplete or incorrect files submitted by homeowners each month. Lenders have notified customers that any incomplete or incorrect files will be delayed or denied.
"Banks want to approve reductions because there are substantial reimbursements from
the government and saves them time and money," said attorney Paul Jacobson. "But the homeowner needs to know the right person to talk to, best programs available, and what the bank is looking for in a reduction request. Sadly, most people get denied for simple errors in the application or process and give up, continuing to pay high payments or even facing foreclosure."
According to officials at TheMortgageGuide.org. the need for a step-by-step process for homeowners is essential. The Mortgage Guide is not only able to help homeowners accomplish reduction in rate and principal balance on the mortgage, but also starts the savings faster by teaching homeowners how to shorten the time to complete a loan reduction.
Homeowners can rest assured that TheMortgageGuide.org allows them to continue making payments if they choose during the approval process, helping their credit score.
"Some people think they need to hire an attorney to negotiate loan reduction for them, but this is simply not true," says Mr. Jacobson. "The Mortgage Guide has proven time and time again that a normal homeowner with zero banking experience can obtain a substantial reduction from their lender if they have the right tools."
Get expert help at a very reasonable cost. To learn more about The Mortgage Guide and how to reduce loan principal or payments visit TheMortgageGuide.com.