Are you part of the billions of Americans having a financial crisis? Right now, so many jobs are lost everyday due to cost cutting and companies closing down. The situation, they say, is even worse than the great depression. Since banks are closing down, the rates for loan mortgages are going up. And since real estate values went flat, a lot of homes have been let go by owners to foreclosure. And since a lot of jobs were lost, even more homeowners are in danger of foreclosing their primary homes. How can they possibly hope to stop foreclosure if they don't have income, the rates are rising, and the value of their houses is depreciating? The situation is so bad coast to coast that the administration of President Barack Obama is injecting funds to Fannie Mae and Freddie Mac in order to remedy this dire situation. The 700 billion dollar Obama bailout fund is being utilized in ways that could help you the homeowner. If you need help with this problem, then you are doing the first step to solving it right now by reading this article: research.

How do you stop Foreclosure?
There is a new option right now for people who need foreclosure help, and this is called loan rate modification. In the past, this kind of thing is nearly unheard of. A mortgage, as coming from the Latin word mort meaning death, is a loan that you will carry unchanged until you die. But now because of how things are, banks are more willing to help out homeowners. Through a loan modification process, a home owner can bring down his loan rates, can get extensions on his loan, and can bring down the original loan balance permanently.

How the economic situation can work to your favor?
As was mentioned earlier, President Barack Obama has created funds to help people succeed in their loan modification. 200 billion dollars is being spent in the name of bolstering the funds for this process. The government is further encouraging companies and creditors by providing a cash incentive to those who have successfully pulled of a loan rate modification. And anyway, at this rate of foreclosures, banks and loaners would not profit with having even more foreclosed houses. This is because they will not be able to sell back those houses at good prices.

How can one qualify for this modification?
The first thing that banks and loaners would like to see before modifying a loan is the cause of the debtor's financial crisis. This crisis needs to be something that was unavoidable, such as being laid of, getting sick, or the death of one family member. Then, the second most important thing they need to see is your ability to pay the new, lowered loan. You don't have to have incredibly good credit score, nor do you have to be a delinquent payer. These are the two most important factors for you to stop foreclosure through a loan rate modification.

To give you more idea on how to avoid or Stop Foreclosure you may visit or call us at 1.888.864.1663 for more tips.