To Refi or To Modify, That is the Question

In an article that appeared in Philliadelphia Business Today entitled "Housing Chief Says Refinancing Program is Working" the executive director of Mount Airy USA, which provides financial  counseling, stated the following:

"Truth is that there are so many programs out there now . . . most struggling homeowners don't know why they are calling us other than for help."

This is an amazing statement, but one that we can all relate to. Over the past several months I have spoken to many people that aren't sure what to do about their home mortgages, some are so confused they settle for doing nothing. 

Homeownership is a big responsibility. Up until now it just meant that we had to maintain a yard or fix a pipe now and then. Now there is another kind of maintenance that needs to be attended to, the financial health of the home.

The first, and easiest place to start is taking this quick, simple, 4 question test to see if you qualify for the "Making Homeownership Affordable Program". Take the test here.

Most people will not qualify for this program. So the next place to go for guidence is the U.S. Dept. of Housing and Urban Development. There are over 26,000 locations from coast to coast. Find an office in your area here. Seek the the help of qualified counselor and find out exaclty what kind of help you need. 

Making the correct desision is crucial when it comes to the single largest purchase of your life. I hope you will take the steps to make an educated desision. 

Matt Kemper

YourCreditCompany.com