Blaine, WA (PressExposure) April 24, 2008 -- SaveMeFromForeclosure.com, LLC a proven leader in the foreclosure prevention services industry continues to share valuable information to consumers facing foreclosure and other housing industry related matters.
SaveMeFromForeclosure.com, LLC explains the process of mortgage restructuring to save a home from foreclosure, by providing information on the mortgage restructuring requirements.
SaveMeFromForeclosure.com, LLC offers valuable information to homeowners facing foreclosure during this time of a nationwide epidemic of foreclosures. Understanding the loan process helps homeowners understand their responsibilities as it relates to the mortgage. âHomeowners must understand that they have to prove themselves to lenders when trying to restructure a mortgage in an attempt to save their home from foreclosure,â says Justin Lee CEO of SaveMeFromForeclosure.com, LLC. Understanding that premise allows homeowners to understand that an attempt to restructure a loan has different requirements from those of a first time home buyer. The homeowner has to prove they can afford the new monthly payments, and that their circumstances which caused the set back in payments have changed.
Damaged credit is also a factor in the restructuring process, and can prove to be quite troublesome. With traditional loans not tailored for consumers with credit issues, homeowners find themselves optioned with loans with significantly higher interest rates resulting in higher monthly payments. With the surge of foreclosures and government intervention, many lenders have imposed much stricter guidelines in their approval process.
Additionally, homeowners must make sure they have the money for closing costs and other costs associated with restructuring. SaveMeFromForeclosure.com, LLC offers solid information consultation, and strategies to assist homeowners. More information is available on the website http://www.SaveMeFromForeclosure.com