| Mortgage Debt Elimination shows that most home loan | | | | Urban Development or the housing authority in your |
| debts will be secured. Secured debts usually are tied | | | | state, city, or county for help in finding a legitimate |
| to an asset, like your house for a mortgage. If you | | | | housing counseling agency near you. |
| stop making payments, lenders can foreclose on your | | | | The prospect of debt elimination is something that |
| house. | | | | many Americans are dealing with today. If you are |
| Unsecured debts are not tied to any asset, and include | | | | concerned about your current debt situation, constantly |
| most credit card debt, bills for medical care, signature | | | | trying to eliminate debt from your life, you are not |
| loans, and debts for other types of services. | | | | alone. |
| If you fall behind on your mortgage, you must contact | | | | In fact, over half of all American households have |
| your lender immediately to avoid foreclosure, don't wait | | | | trouble meeting their minimum monthly obligations, |
| 2 or 3 months. Most lenders are willing to work with | | | | driving them further and further into debt. |
| you if they believe you're acting in good faith and the | | | | Interest on the average home mortgage will cost the |
| situation is temporary, please tell the truth. | | | | homeowner nearly TWO TIMES the cost of the |
| Some lenders may reduce or suspend your payments | | | | home. |
| for a short time, mortgage debt elimination shows you | | | | If you were to purchase a $150,000 home with a |
| that when you resume regular payments, you will only | | | | $120,000 mortgage (80%), and you paid an interest |
| have to pay an small additional amount toward the | | | | rate of 9% for 30 years, you will have paid over |
| past due total. | | | | $227,500 just in interest (in addition to the original |
| Other lenders may agree to change the terms of the | | | | $120,000). That's nearly two times the cost of the |
| mortgage by extending the repayment period to | | | | home! |
| reduce the monthly debt. Ask whether additional fees | | | | Without mortgage debt elimination, you can pay-off |
| would be assessed for these changes, and calculate | | | | your home, credit cards, car loans and other debts the |
| how much they total in the long term. | | | | slow, old-fashioned way and maybe end up with a |
| If you and your lender cannot work out a plan, contact | | | | few thousand dollars saved for your retirement |
| a housing counseling agency. Some agencies limit their | | | | years...or you can stop living Pay-Check to Pay-Check. |
| counseling services to homeowners with FHA | | | | Starting Today! |
| mortgages, but many offer free mortgage debt advice | | | | NOW! Imagine what you will feel like, when you wake |
| to any homeowner who's having trouble making | | | | up one morning and absolutely know that all of your |
| mortgage payments. | | | | debts have been eliminated, and you Now Own Your |
| Call the local office of the Department of Housing and | | | | House, mortgage debt elimination shows you how. |