| Like many places around the country, the | | | | loses out on hundreds of thousands of dollars, so |
| foreclosure problem has hit New York very hard | | | | to avoid that they are willing to lose some of |
| and continues to be a serious problem. The only | | | | their profits to allow you to pay less each month. |
| good news is that there is finally help on the way | | | | Some people were able to cut their bill down by |
| for people who are struggling to make their | | | | as much as $600 a month. |
| monthly mortgage payments. For those who are | | | | Many people are nervous about modifying their |
| paying on time but are struggling to do so, there | | | | loans because your credit score takes a bad hit, |
| is a new government program installed that will | | | | especially when you use the government help. |
| assist you. This program is only for people who | | | | Experts say not to worry because the hit is not |
| are making their payments on time but can prove | | | | as bad as a foreclosure would be, and you can |
| they are having a hard time doing it, and could | | | | always fix your score. The best way to fix your |
| use some help. The government will put you into | | | | score is to hire one of your local New York credit |
| a program that will allow you to modify your loan | | | | repair companies. Credit repair is great because it |
| and owe less each year either by lowering the | | | | can fix any number no matter the reason it was |
| interest rate or lengthening the term of your | | | | lowered and it can fix it in weeks. The process is |
| mortgage. For those who are falling behind on | | | | easy and affordable and so effective it can fix a |
| payments or even missing some, many lenders | | | | number even if it was lowered by; identity theft, |
| are now willing to work with you on modifying | | | | missed payments, loan modification, and much |
| your loan without the need to apply. When you | | | | more. |
| are forced to foreclose on your home the bank | | | | |