Loan Modifications and Foreclosures in San Francisco
Many homeowners are currently wondering if they can afford to stay in their home and whether they might qualify for government assistance to help in this regard.
As a San Francisco foreclosure attorney and bankruptcy attorney I encounter the hardships people go through when they ask their banks to modify their loans on a daily basis.
Last month I discussed some aspects in the Homeowner Affordability and Stability Plan put forth by the Obama administration earlier this year. As you may recall, the criteria for determining homeowner eligibility can be a bit confusing.
Fortunately, the government has created a website to help homeowners assess whether they'll be able to benefit from this new plan and be able to refinance their mortgage or at least reduce their monthly mortgage payments.
Here's the website: http://www.makinghomeaffordable.gov
On this site you can look up the eligibility requirements for the mortgage modification program. In addition, the site has a calculator you can use to figure out your debt-income ratio and what kind of payment you'd be looking at if you qualify for the program.
I am a San Francisco foreclosure attorney and also work as a San Francisco bankruptcy attorney. If you have questions about the blog contact us per phone or email.
Continue reading "Loan Modifications and Foreclosures in San Francisco" »
