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News for Public Officials

Mortgage Relief

Credit Card Debt Tax & Insurance Savings Fannie & Freddie Refi



Having a hard time making your house payments? Owe More Than Your Home is Worth?

Click Here to Get free quotes and information about refinancing under the new rules



How to Access New Mortgage Relief & Bailout Plans



Selecting a Foreclosure Prevention Specialist

If youíre looking for foreclosure prevention help, the Federal Trade Commission advises homeowners to avoid any business that:

  • guarantees to stop the foreclosure process Ė no matter what your circumstances
  • instructs you not to contact your lender, lawyer, or credit or housing counselor
  • collects a fee before providing you with any services
  • accepts payment only by cashierís check or wire transfer
  • encourages you to lease your home so you can buy it back over time
  • tells you to make your mortgage payments directly to it, rather than your lender
  • tells you to transfer your property deed or title to it
  • offers to buy your house for cash at a fixed price that is not set by the housing market at the time of sale
  • pressures you to sign paperwork you havenít had a chance to read thoroughly or that you donít understand.


New mortgage relief plans could end your mortgage nightmare but it is important to understand what it takes to meet eligibility requirements.  Most lenders are now ready to accept applications for aggressive new loan workout programs, but before you contact your lender, make sure you understand how to improve your chances of qualifying. 

Here is some important information that may help you qualify to lower your monthly payment and save your home.

The federal Making Home Affordable Plan is a standardized program that offers the same terms to every qualified homeowner. The secret to approval is to have a good understanding of how to prepare your application so that it has the best chance of meeting those guidelines. Here are the basics required to qualify:

  • Loan must have been originated prior to January 1, 2009
  • Loan amount must be less than $729,750 (higher allowed for 2-4 units)
  • You must live in the home as your primary residence
  • Your current payment must equal more than 31% of your gross monthly income (including taxes, insurance and homeowners dues)
  • Only available on primary loan (second loans do not apply)
  • Regional variations may apply  - State, Local and private options may also be available.  Check your eligibility with a local specialist

If you can meet these criteria, then you may be a good candidate for federal mortgage loan modification programs. In addition, homeowners who successfully pay their new payments on time will be eligible for bonus payments of $1000 per year, for up to five years. Those bonus payments will be deducted directly from the loans principal balance to help recapture equity.


This website is not affiliated with any government organization or program. News for Public Officials is dedicated to providing the best in news, press releases, the latest laws and services to help elected officials better serve the people who elect them.  The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the web-site is accurate and complete at the date first published, however you should recognize that information contained on this web-site may become out of date over time. Readers who have particular questions regarding real estate financing or foreclosure, or who believe they require legal counsel, should seek the advice of an attorney. To learn more about the government plan please read (pdf)  |Send this page to a friend  | Privacy Policy







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