Connecticut A+ BBB Mortgage Loan Modification Companies | Stamford, Fairfield, Greenwich

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 8, 2010 -- For A+ BBB Connecticut Mortgage Loan Modification Services go to www.YourHomestart.com

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Connecticut A+ BBB Mortgage Loan Modification Companies | Stamford, Fairfield, Greenwich

Welcome visit Our WebSite:

http://www.YourHomestart.com

Homeowners are having difficulty in Connecticut, which ranks in the top ten states for highest foreclosure rates in the country. As many as 1 in 17 mortgages were either in foreclosure or overdue in August 2009, reported by the Hartford Courant. Alarming statistics like this have many Connecticut homeowners on edge. Fortunately, loan modifications are becoming more prevalent and regulated. HomeStart is accredited by the BBB and provides loan modification services to the many who qualify.

Now more than ever, lenders are willing to renegotiate the loan terms. President Obama’s new Homeowner and Stability Plan (HASP) incentivizes lenders to offer loan modifications. The HASP has a budget of $75 billion to refund lenders for the money they lose in the loan modification process. HomeStart will determine if you qualify for a loan modification and get the process started with no upfront fees.

A loan modification is a permanent change in one or more of the terms of your loan. The purpose of a loan modification is to allow the borrower to meet the new loan modification terms in order to prevent foreclosure. A loan modification is not a refinance; it is a renegotiation of the loan terms. In other words, a loan modification is a contractual agreement between the Lender and the Borrower to provide long term relief from unaffordable loan terms. Loan modifications can lower your interest rate, monthly mortgage payments, and the principle balance. Since the cost of foreclosure to the Lender is higher than new loan modification terms, lenders are open to loan modifications to prevent foreclosure. HomeStart is here to help you through this process.

Here is an example of a recent loan modification performed by HomeStart .

Property in San Diego, CA
Total monthly savings of $1,132.38/month

* Primary Residence:
Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of$2,445.30.
* Modified to:
Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments.

For more information please visit www.YourHomestart.com

More information can be found online at http://www.YourHomestart.com

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