Should I wait on help from the government to save my home from foreclosure?

The Feldman Law Center gives legal and financial advice to clients that are based on facts, history, and the law. History so far has shown us that the government is not in a position to help homeowners directly with their foreclosure. The Federal Government is focusing on saving he banks, so the banks can save your home from foreclosure, or at least you hope so.

In October you may remember hearing on the news, the downward spiral of the financial market, forced the government to pass a $700 billion rescue package. The plan was to buy bad assets from the lenders; experts predicted them to have acquired more than a third of all U.S. properties for sale. Last Wednesday it was announced by Treasury Secretary Henry Paulson that the “plan” would not purchase those troubled assets. He said it would take too much time; instead the Treasury will be buying stakes in banks and encouraging them to resume more normal lending.

The issue with this approach is that nothing is normal in the lending sector. You are a homeowner with mortgage payments that are late, too high, or your value is far less than your principal balance due to falling home values. So why do you want to borrow more money, how would you qualify, and do you have time to deal with the confustion the government is creating for homeowners in distreses.

The answer is no. The Feldman Law Center can save your home from foreclosure. To avoid foreclosure now please call us directly or click our free quote button below. We can help..