Behind on payments?

Many people these days have already had this issue or will have based on the current unemployment rates. If this happens to you or someone you know the first thing to do is call your lender/mortgage service company and let them know of your hardship. Be sure to write down date, time, and who you spoke with (full name and extension is best). They will let you know what they may be able to do. Try to do this before it gets to far behind so you do not go into default and start the foreclosure process.
When you call if you get a representative that is less than courteous I suggest you excuse yourself and call back later as chances are you will get another person to assist you. In fact, it is not at all unusual to get different people each time you call so writing names and extension down is vital so you can work with the one who best assists you.
Most of all remember you are not alone. Be strong and know that you did not ask for the hardship and you deserve a way to work it out. Do not put up with negative or abusive behavior. Just the fact that you are calling puts you in a better place than most as they usually avoid it due to the stress or fear.

Mortgage Crisis Over?

Just because you do not see the headlines focusing on the Mortgage Crisis does not mean we are doing better. Foreclosures have actually gone up in some states after moratoriums have been lifted and lenders are short handed to get through the loan modifications requests. Its no secret that you can be on hold for what feels like an eternity. Even Congresswoman Waters (CA) was shown on a news special in the past trying to help people only to get the run around. Click on link for her eye opening story
http://abcnews.go.com/Blotter/story?id=6702731&page=1

I read an article that really shed more light on why lenders do not always have incentive to work with homeowners. Mortgage lending companies often have foreclosure insurance, creating a lack of incentive for them to work with homeowners. Lending companies have foreclosure insurance on about 70 percent of homes with loans. Of course if mortgage lending companies try too often to cover losses by requesting foreclosure insurance payments, their insurance companies could increase their premiums dramatically.

It seems that we will be in an uphill battle to "fix" the issues if you cannot get through by phone and lenders have insurance to help them. I myself know the people and places to go to for help but two years later I am still battling for my home of almost 11 years. Stay tuned I have a lot of information and I am ready to share it all!