These challenging times have creative solutions.

If you somehow got caught up in the housing crunch created by creative lending practices, loss of employment, illness or the economy in general; you may be facing the loss of your home.  The first step to take is to call your lender. There are many options available that you may not know exist. The other phone call to make is to a professional and experienced Realtor®. He or she will be able to guide you to the best resources that are available to help you stay in your home if possible or sell your home if necessary and possibly avoid foreclosure.

The government has gotten involved by initiating the Making Homes Affordable program.  The goal of MHA is to offer homeowners modified loans that allow them to pay more reasonable rates and remain in their homes.  As of this writing, over 400,000 offers have been tendered and nearly 230,000 modifications have been initiated.  The next goal of the MHA program is to ramp up service and have over 500,000 trial modifications made by November 1, 2009.  If the Obama Administration goals are met, as many as 7-9 million homeowners who are making good faith efforts to pay their mortgages will be offered loan modifications. This is one of several programs that are available. A great internet resource is www.MakingHomeAffordable.gov.

Because the housing market is such a powerful economic force there is no way to fully recover from the current recession until housing inventory has been reduced and foreclosures are down.  Don't wait until you have no other options, let your Realtor be a resource so that you can possibly keep what you worked so hard to purchase.

Contact Chandra Hall and let her help you work out a solution for you or someone you care about.

www.ChandraHall.com