Tuesday, March 16, 2010

Foreclosure crisis help

“...many are forced to make tough decisions about their financial future, including the home they live in.”
by Millicent Harwell
Totally Free, Inc.

We have seen some unprecedented events regarding the economy and the real estate market in recent years, personally effecting families from all walks of life.

In the midst of the shocking events in our financial world, across the board many families have arrived at a place where they are forced to make tough decisions about their financial future, including the homes they live in.

Are you or a loved one facing challenges with your mortgage payment? The Making Home Affordable program (www.makinghomeaffordable.gov) is part of the Obama Administration’s broad, comprehensive strategy to get the nation’s economy and the housing market back on track.

The program offers two different potential solutions for borrowers needing assistance: (1) Refinancing mortgage loans, through the Home Affordable Refinance Program (HARP), and: (2) Modifying mortgage loans through the Home Affordable Modification Program (HAMP).

Those facing default or possible foreclosure need to know the facts. Georgia’s foreclosure process is non-judicial. The timeline of initiation of foreclosure to the foreclosure sale is 90 days, that’s only three short months. In most cases there is no jury trial and foreclosure sales take place at the courthouse steps on the first Tuesday of the month.

The illustration above demonstrates a typical time-line for foreclose on a property in the State of Georgia, from the time of the first missed payment until foreclosure. (Illustration provided by Totally Free, Inc.)
The information provided in this illustration may vary from case to case and is only provided as a sample for reference.

Totally Free, Inc. is a U.S. Department of Housing and Urban Development approved housing counseling organization that offers foreclosure prevention counseling services free of charge to anyone who needs assistance. We can work with you through any mortgage challenge you may be facing.

Remember, crisis can also bring opportunity. If you are in crisis, we urge you to contact us for help. We can explain to you in greater depth your potential options. We can also give you a better understanding of the process and help find the right solution.

We can help you determine if you are program eligible and also work with you to find a workout plan that best suits your individual situation.

I have been told that crisis can have a dual meaning: “danger equals opportunity.” If you’re in a crisis we urge you to contact us for help.

Totally Free, Inc. is a non-profit organization geared to bring financial freedom to those ensnared by the bondage of debt. For more information about our free services; including financial counseling, foreclosure prevention services and homebuyer programs, please call 912-265-1515.

www.totallyfreeinc.org

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