For Some Homeowners, Tough Times Are Still Ahead

Echo's of "The Great Recession" are still felt by many Americans facing difficult times. This includes a large percentage of homeowners. Those who were once excited about their dream home found out a few years later that their loan was in fact, the stuff of nightmares.

Some real estate owners sought bankruptcy protection. Others tried to get loan modifications. But if you own real estate and are struggling with payments, there are other options in addition tot these two choices. The federal government offers a variety of solutions for the average consumer! Its true! You may actually be able to receive your own government bailout.

Programs available include:

Loan modification counseling for FREE! Those who qualify can receive reduced mortgage payments. If you are a veteran, the VA will provide assistance, even if you do not have a VA loan. If you are not a veteran, you may want to contact HOPE (link below article) which will provide free counseling and loan modification assistance.

Refinance into a government inured home loan. FHA and VA loans are available to those who qualify. If you have been current on all debt except your mortgage, you may be eligible. These loans offer low, fixed interest rates and easy qualifying.

Finally, you may want to consider helping yourself and a Veteran. VA HLC is seeking homeowners who are willing to sell their home to VA buyers. If you select a VA HLC agent to help you short sale your home, you will never have to pay for agents commission or any closing costs. Eligible buyers are returning home after serving in the war. These buyers are looking to purchase homes but many sellers do not understand the government home purchase programs.

In an effort to make the process easy, VA HLC will offer free short sale counseling. VA HLC will bring you a qualified buyer and you will not have to pay anything for the service. In fact if you use VA HLC for your short sale representation, you may qualify to buy again with a VA HLC loan in as little as 2 years. Many people are eligible for this even though they have not served in the military.

Among the advantages of selling with a short sale is the ability for you to live rent free while you are short-selling. The short sale process may take up to a year. If you are actively short-selling most lenders will not foreclose during this time. A short sale also looks better on your credit report. Unlike a foreclosure or bankruptcy the debt will be paid off. Lastly, if you use a short sale, you qualify to purchase a home faster than with a bankruptcy or foreclosure.

If you are a homeowner considering bankruptcy or foreclosure, speak with a VA HLC representative to learn about all of your options first. The call is free but the information may save you thousands!