(Originally published September 4, 2010.)
In a prior newsletter, I mentioned that many homeowners throughout the United States are struggling with their mortgage payments or facing foreclosure. Out of desperation, many of these homeowners have applied for loan modifications or have sought the help of some questionable modification companies and attorneys.
The problem is only a small percentage of homeowners are qualifying for these alternatives! Despite the programs put forth by the White House and lenders, the criterion for help is so restrictive, it’s determined that most homeowners are making too much income – or not enough!
In an effort to educate homeowners on the legitimate options available to them, Fannie Mae created www.KnowYourOptions.com. This website is a valuable resource that can help homeowners cut through all of the misinformation being broadcast by the White House and by less than reputable modification “specialists.”
Since 1992, Warren Goldberg has helped thousands of clients own their homes, refinance their mortgages, restructure their debts, and invest in real estate. Warren is known for his wide knowledge of mortgage products and wealth-creation strategies.