If You Lost Your Job, You May Qualify for Reduced Mortgage Payments

http://bit.ly/zDGikF This program in particular is a forbearance plan, where the lender will reduce the amount of your mortgage payment for a specific time. The lender will either cut the payment or reduce it to zero for 6 months. This extra time will allow you to look for a job and get back on your feet again. It is important to understand that this is NOT a principal reduction plan. The loan amount is NOT reduced. Also,once the forbearance period is over, you will have to make up all the missed payments in full. Your lender will work with you to develop a payment plan that will specify exactly how much you have to pay each month and how long it will take to repay. As long as you are making your payments as agreed, the foreclosure process stops during the forbearance plan. Also, the lender cannot charge you any late fees while the forbearance plan is in existence, as long as the payments are made as agreed.

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• lower mortgage payments
• job loss
• reduced payments
• refinance
• loan forbearance
• save my house
• keep my house
• save from foreclosure