SOURCE: Mortgage Guide, Inc.

February 22, 2012 14:27 ET

TheMortgageGuide.Org Shows Homeowners How to Get a Piece of the $25 Billion Settlement for Principal/Payment Reduction With a Loan Modification

CARLSBAD, CA--(Marketwire - Feb 22, 2012) - American Homeowners will receive billions of dollars to reduce principal on their mortgages designed to help in troubled times and TheMortgageGuide.Org will help thousands get their fair share. The money was set aside for homeowners with hardship thanks to pressure on U.S. Banks from The Justice Department and the U.S. Department of Housing and Urban Development, as well as 49 state attorneys. The Nation's banks were finally forced to address the crisis that has caused much difficulty for homeowners, including foreclosures and massive job losses.

In the past several years, loan modifications have helped hundreds of thousands of people drop principal, lower mortgage rates, or reduce payments, but many homeowners still haven't taken advantage of the programs available because it was too difficult or they didn't qualify.

Now things have changed...

Officials from Bank of America, Wells Fargo and other banks have even set up their own lender-specific modification programs to help customers that don't qualify for standard principal/payment reduction government programs. These banks are trying to help as many people as possible but there are millions of incomplete or incorrect files submitted by homeowners each month. Lenders have notified customers that any incomplete or incorrect files will be delayed or denied.

"Banks want to approve modifications because it benefits everyone having a performing loan," said attorney Paul Jacobson. "But the homeowner needs to know the right person to talk to, best programs available, and what the bank is looking at in a modification request. Sadly, most people get denied for simple errors in the application or process and give up, resulting in paying high payments or even foreclosing."

According to officials at TheMortgageGuide.Org the need for a step-by-step guide for homeowners is essential. The Mortgage Guide is not only able to help homeowners negotiate their own reduction in principal or payments on the mortgage, but also starts the savings faster by teaching homeowners how to shorten the time to complete a loan modification.

Skeptical homeowners can rest assured that TheMortgageGuide.Org allows a homeowner to continue making payments if they choose during the approval process, helping their credit score.

"Some people think they need to hire an attorney to do the loan modification for them, but this is simply not true," says Mr. Jacobson. "TheMortgageGuide.Org has proven time and time again that a normal homeowner with zero banking experience can negotiate their own terms with their lender if they have the right tools."

TheMortgageGuide.Org enrollment starts at just $595. To learn more about The Mortgage Guide how to reduce loan principal visit TheMortgageGuide.Org

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