Some Mortgage lenders are making great strides in re-writing loans for troubled homeowners behind in payments

On average, lenders lose $40,000 to $50,000 on every loan that goes into foreclosure.

Some lenders are sending staff door-to-door to engage homeowners in discussions about rewriting mortgage, USA Today reported.

This is a terrific idea and practice, however this is an upfront expense that many banks just can't afford to make with the extra employee related expense, however they really cannot afford not to.

Hope Now, a national alliance of lenders, financial counselors and investors, said 2.26 million homeowners avoided foreclosure since July 2007 by changing repayment plans.

As many as 400,000 homeowners could benefit from a new Federal Housing Administration program, while another 400,000 could find relief through Bank of America, which purchased Countrywide Financial and then settled a complaint against it with terms that include helping qualified homeowners.

Please let me know if you need assistance if you are behind in payments. I have extensive experience and sucess in shortsales in the Tampa Bay Florida area, since 2001.

Warmly,

Stephanie LeFew

http://www.TampaHomeBuy.com

813-991-1355 home office

813-624-3332 cell phone

stephanie@tampahomebuy.com