SOURCE: Informa Research Services, Inc.

Informa Research Services, Inc.

April 13, 2011 10:52 ET

Delaware to Receive Foreclosure Prevention Funds, Says Informa Research Services

CALABASAS, CA--(Marketwire - Apr 13, 2011) - In an effort to help stem the foreclosure problem caused by the recent housing meltdown, the state of Delaware recently received federal funds for distribution to financially troubled residents. Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggest that consumers consider looking into refinancing their current home loan to lower their monthly mortgage payment and potentially, prevent their home from going into foreclosure.

Consumers who live in Delaware and are facing the threat of foreclosure may soon be able to get some assistance from the federal government, according to a report from the Delmarva Daily Times. The U.S. Department of Housing and Urban Development recently gave the state's housing authority $6 million to be distributed to consumers, who can receive up to $50,000 in no-interest loans to pay down items related to their mortgage.

However, this program may be difficult for many homeowners to qualify for, so some may benefit from refinancing their existing home loan. Doing so can save hundreds of dollars a month on payments, and the best local mortgage rates can be found by checking the latest online rate tables. Furthermore, the lenders featured on these rate comparison tables frequently offer rates well below the current national average. For example, AimLoan.com currently offers a 30 year fixed rate mortgage for just 4.625%; the national average currently stands at 5.09% according to Informa Research Services' Interest Rate Review.

"You can see how many people this (program) has the possibility of assisting," Kathi McCoy, public information officer for the Delaware Housing Authority, told the newspaper. "If you look population-wise, Sussex has been hit very hard." Sussex County has seen foreclosures nearly double between 2008 and 2010.

Follow Informa Research Services on Twitter (@InformaResearch).

Become a fan of Informa Research Services on Facebook.

Permission is granted to reprint this release in part or in its entirety as long as source credit is properly listed.

About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research, mystery shop, and decision-support information.