Will Families Get Help With Foreclosure Under the New Government Program to Boost Consumer Credit?
We just got the news of the latest Government Bailout Package. It is called "Government Program To Boost Consumer Credit", and consist in a 800 billion dollars package. It includes 200 billions dollars to buy from banks certain loans, like: car loans, student loans, credit card loans, etc., and the remaining 600 billions for mortgage release program, but do not offer help with foreclosure.
As I said before, this bailout is not intended to help with foreclosure, but to offer loans to very qualify buyers who are interested in buying Real state.
This is how the treasure Secretary Henry Paulson put it Tuesday morning, and I quote: "The 600 billion dollars will not be used to buy toxic mortgages". In plain English that mean that if you are late in your mortgage you will not qualify for this mortgage release program; this means, you are on your way.
We got the news that the Home Foreclosure Index falls 16% in the 3rd quarter of 2008. This means while the foreclosure crisis deepens, the Government continues to deviate their attention, once more, from the homeowners who really need help with foreclosure. This is just another blow to the struggling families all over the US.
The fact is that homeowners who truly need help with foreclosure have to keep fighting on their own. But not everything is bad news; the good thing is that there are still ways for you to avoid home foreclosure, even without help from the Government, at least until, until the real help comes along.
Yes, you can fight foreclosure on your own and stay in your home for a very long time, even if your monthly income has been reduced, or even if you have no income at all. If you know how is done you can avoid foreclosure in some cases for over two years, and you can do it on your own, without incurring in any expenses at all.
You need to know that you do not need to pay a high fee to a lawyer in order to get help with foreclosure and save your home. But you have to take action immediately since the more that you wait the more difficult the fight may be, but do not let this discourage you, since not matter in what face of the foreclosure process you are in, if you still in your home, you still an save it.
Sant, A. (2008, December 3). Will Families Get Help With Foreclosure Under the New Government Program to Boost Consumer Credit?. Retrieved December 25, 2008, from http://ezinearticles.com/?Will-
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