New York A+ BBB Home Loan Modification Company | Brooklyn, Staten Island, Bronx

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(Free-Press-Release.com) December 4, 2009 -- For A+ BBB New York Mortgage Loan Modification Services CLICK HERE

New York’s state superintendent of banks, Richard H. Neiman, recently issued a statement confirming what most New York residents already know: foreclosure rates are down, but the crisis is far from over. “While the foreclosure crisis began with borrowers in inappropriate subprime or exotic mortgages, the recession has expanded the impact of this crisis to homeowners with loans that were originally affordable,” Neiman said.

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New York A+ BBB Home Loan Modification Company | Brooklyn, Staten Island, Bronx

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http://www.yourhomestart.com

New York governor David Patterson announced this month the passage of a new bill that will protect helpless homeowners who face losing their homes by forcing lenders to engage borrowers in better communication before their homes go into foreclosure. The bill, called the Governor’s Program Bill No. 46, along with the federal Homeowner Affordability and Stability Plan, should help New York homeowners avoid foreclosure. With a $75 billion total budget, the plan aims to help a projected four million homeowners over the next three years by reducing monthly interest rates and encouraging borrowers to adopt a loan modification plan.

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, allowing them to prevent foreclosure. A loan modification is not a refinance; it is the restructuring 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. Remember the cost of foreclosure to the Lender is higher than new loan modification terms; therefore, lenders are open to loan modifications to prevent foreclosure.

HOMEstart has established close relationships with large banks and lenders and has experienced attorneys ready to negotiate your mortgage or loan modification. The trusted services we provide have helped many families save their homes, hundreds a month on mortgage payments and thousands off their Principle Balance. HOMEstart is not a high-volume mortgage and loan Modification Company and you will never receive a customer number. We have received an A+ rating from the Better Business Bureau (BBB) by providing personal and dependable service to our customers. We provide free consultation to analyze your current situation so that together we can provide a workable solution that is acceptable to both you and your Lender. We are here to help; start new, not over.

For more information please visit www.YourHomestart.com

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

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