A well written letter of hardship can save a homeowner in having to pay thousands of dollars in deficiency balances and or could mean whether the short sale is approved in 30 days.

If you are able to pay your own mortgage, then there is no need to pay someone else’s rent. Especially, in these days, mortgage loans are easier to get than ever before.

There are a lot of questions being raised about the federal loan modification program. The Obama administration last year has earmarked a $75 billion housing stimulus package that intends to help struggling homeowners, who are faced with financial hardships, to save their homes from a possible foreclosure as well as save hundreds or thousands of dollars over the life of the new home mortgage loan.

As a homeowner, if you lose your job or suffer a medical emergency all of a sudden then your finances will most likely turn upside down in front of you. You will probably react at first thinking (and hoping) that your problems will go away, but you would be wrong.