Falling Behind On Your Mortgage Doesn't Have To Mean The Loss Of Your Home

    W. NEW YORK, NJ, March 26, 2009 /24-7PressRelease/ -- The foreclosure rate in America skyrocketed by 81% in 2008 compared to 2007. States such as California and Florida have seen foreclosure rates jump by 377%. The American Dream of owning a home has turned into a nightmare for people who believe they have no alternative than to pack up and move on. Night after night on the newscasts there's a seemingly endless parade of stories with heartbroken people who wish they had options and choices.

The truth is that falling behind on mortgage payments doesn't always have to mean the end of a families home ownership dream. The mortgage loan experts at Manhattan Mitigation have observed that banks don't want all of these homes that the agreements say they now must foreclose on. Most banks have realized that it's more advantageous for them to have the money owed to them paid back, albeit over a longer period of time, rather than sit on a glut of properties they foreclosed on that in many cases are worth less than what they financed them for.

Recent statistics show that over a quarter of a million homes were kept out of foreclosure in December 2008 by the banks who agreed to restructure and modify mortgage loan agreements. This process can be an intimidating one for the homeowner who is unaware of the various options they could have access to. Quite often homeowners needlessly lose their homes just out of fear of the loan modification process. Those who do venture into this option can frequently miss out on the maximum benefits they could receive due to their lack of knowledge.

There are experts who have cultivated experience and knowledge of how the banks need to work. These experts help homeowners facing foreclosure by utilizing this knowledge as a means to compel the banks to modify mortgages to a level that the homeowner can afford and maintain.
Among the leaders in this service is Manhattan Mitigation. They've successfully negotiated mortgage modifications that have kept people in their homes and through a lowering of their loan's interest rates saved them up to $18,000 per year.

Manhattan Mitigation's staff handles each client as an individual. They examine every reasonable option and advise you on the best route for you to take. Then Manhattan Mitigation works with a client's lending institution to negotiate a manageable agreement. The knowledge possessed by the experts with Manhattan Mitigation give an advantage to their clients since they're fully aware of the current state of affairs in the financial world and how willing lending institutions are to agree, adjust and compromise.

Along with loan modifications, Manhattan Mitigation can advise and take action with forbearance agreements, foreclosure refinancing, short sales, partial claims and the many other options that are available to homeowners that will allow them to keep their homes. Manhattan Mitigation can also often eliminate late payment penalties, attorney fees and more.

About Manhattan Mitigation

Anxiety and fear can narrow the vision of the homeowner who thinks that they're on the verge of losing their home. Mortgage loan experts like Manhattan Mitigation assist the home owners and lending institutions in finding solutions that keep families in their homes, financial institutions away from any further overload and extremely low home sale prices off the market, thereby avoiding the addition of any further negative impact on the real estate market.

Source: Manhattan Mitigation
Website: http://www.manhattanmitigation.com

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