This Plan was developed to help struggling home owners restructure their mortgage, which would reduce the foreclosure rates and keep home owners in their homes and would also slow the decline in home values The Obama Loan Modification Plan has about $75 billion allocated to accomplish this task of making bad loans good and should help about 4 million home owners to save their home’s from foreclosure

The Making Home Affordable Program was developed by the Obama administration to help fix the collapsing real estate market The plan is targeted to assist about 9 million home owners who may be eligible to refinance or do a loan modification

This Plan was developed to help struggling home owners restructure their mortgage, which would reduce the foreclosure rates and keep home owners in their homes and would also slow the decline in home values The Obama Loan Modification Plan has about $75 billion allocated to accomplish this task of making bad loans good and should help about 4 million home owners to save their home’s from foreclosure

More and more Americans are at risk of foreclosure and losing their homes as the US

The loan modification process is actually a very multifaceted process What I mean by that is, the entity that actually makes the decisions on loan modifications are not always made by the company that owns the loan

This article was written to give a brief overview of how the loan modification process is handled when the home owner is dealing directly with their lender Before I begin I have to let you know that I am not trying to persuade or scare you from doing a loan modification on your own, but instead I am trying to give you real information, so stay with me

With the current collapse of the real estate market, there has been an increase of con artists that has arrived in the loan modification field, which target home owners that are in facing foreclosure What these fraudulent loan modification companies do is prey on the fears of these home owners that are in the midst of losing their homes to foreclosure

What is a Short Refinance A short refinance is when a lender accepts less than what is owed on the mortgage to allow the home owner to refinance

Today there are many home owners that have paid their mortgage on time, but have found themselves in an adjustable rate mortgage, that has adjusted or is scheduled to adjust in the near future Now they have good credit, good mortgage history, but the problem is they cannot refinance as they owe more than their home is worth

If you own a home in a declining market such as South Florida, then you may have a rude awakening when you find out how much your house is worth in today’s market, especially if you need to sell or refinance in the near future Some home owners have the flexibility to wait out this declining market, while many more don’t, for such reasons as divorce, relocation, financial hardship or an adjustable rate mortgage that just spiked up a few hundred dollars and home owners can no longer afford their home and may possibly face foreclosure

Actually this FHA Hope Program For Home Owner’s may prove to be HOPELESS, for both home owner’s and lenders…

The focus of this article will be the FHA SECURE PROGRAM To simply put it, FHA Secure is a refinance option for home owners that currently have a subprime loan or any other non FHA loan

This is definitely one of the big banks and lenders best kept secrets But with the recent increase in foreclosures and the tightening of lender guidelines, which makes it even harder to qualify in today’s market for a refinance, and not to mention the drop in property values in such areas as Fort Lauderdale and Miami has brought the short refinance to the front lines

At some point in life we are all faced with this question With today's low rates and a lot of bargain priced properties in the Miami market, makes the dream of home ownership very attractive

In today's market, especially in Fort Lauderdale Florida, a lot of home owners are finding themselves in this situation with an adjustable rate mortgage that just adjusted and now the home has become more of a burden as it is no longer in their monthly budget While other Fort Lauderdale home owners find themselves with a property where they owe more than the property is worth