You're not alone these days if you suddenly find yourself unable to pay your monthly mortgage payments. The rate of foreclosures is skyrocketing, and house prices are plummeting. If you're in trouble with your home mortgage, you need to read this simple loan modification guide to learn what to do next. First, find a reputable financial counselor. This section of the yellow pages has exploded recently with new companies helping people with troubled finances. You can choose from any number of reputable companies (just make sure they are in good standing with the Better Business Bureau), or you can get a referral for free financial counseling from your local HUD office. A counselor will discuss your situation and your options, helping you to find the best next step.
Read more [...]