Here’s some more information from your Seminole County foreclosure and Seminole County short sale realtor. Seminole County foreclosure homeowners, if you are threatened with foreclosure and behind in your mortgage payments, lenders these days are very willing to allow homeowners to modify their mortgage payments and avoid foreclosure. The federal HAMP foreclosure help program assists homeowners avoid foreclosure. Under the HAMP program, Seminole County homeowners can avoid foreclosure and modify their mortgage payments by:
Reducing the interest rate on the loan to as low as 2%,
If necessary, extending the loan term to 40 years, and
Finally, if necessary, forbear (defer) a portion of the principal until the loan is paid off and waive interest on the deferred amount.
If you questions about loan modification options, contact Richard today.
