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Moe & Loan Safe in Smart Money Magazine
The good news is that banks are more willing than ever to help homeowners avoid foreclosure, and terms may improve further if Congress includes additional incentives for banks to help homeowners as part of the economic stimulus package under consideration, says Keith Gumbinger, vice president of mortgage market analyst firm HSH. Here’s what you need to know.
Don’t Despair
If you’re willing to make your loan payments, you’re already way ahead of the many borrowers who have walked away from their homes, says Moe Bedard, president of LoanSafe Solutions. The upshot? Banks have more incentive than ever to work with you. Plunging property values mean they’re recovering less now on foreclosures. Plus, many that received cash infusions from the U.S. Treasury are under pressure to show that they’re responding to the housing crisis. Take advantage.
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