We Turn the Page – Mortgage Modification

President Obama addressed the Nation yesterday with the State of the Union.  “Tonight, we turn the page” the president said in his opening remarks to a joint session of Congress.  He emphasized the difference between today and the past 15 years; a period when the United States has had to deal with terrorism and the financial meltdown that nearly brought our Nation to a Depression like-era.

When Obama took office, unemployment was at 10%; it is now down to 5.6 percent.  The economy is now adding several hundred thousand jobs each month, and growth is accelerating.  This compares to him  inheriting an economy that was shedding 700,000 jobs a month when he took office.  At its height, the Great Recession had 27 million workers unemployed or underemployed.  Seven years ago was also the beginning of the housing crisis; homes were being foreclosed because people were out of work and could not afford to pay their mortgage and were unable to pay household bills.  Hundreds of people have come to us during these times with similar stories.  We have helped many of these people and families deal with their debt.

One successful initiative that Obama implemented was the Home Affordable Modification Program (known as HAMP) which has given incentives to mortgage companies to process and follow through with mortgage modification; homeowners’ mortgages have been reset; borrowers have lower interest rates and monthly payments.  This program is scheduled to end in December.  Many of our clients have taken advantage of this program and saved hundreds of dollars per month.

Although America may be turning the page, there are yet families who face financial difficulties and need assistance to obtain a fresh financial start.  it is not too late to get a fresh start and take advantage of the HAMP program.  It is not too late to have us help you take care of credit card debt, medical bills and other debt issues.  It is not too late to turn the page!  Call us at 215-822-2728.

Written with the assistance of my paralegal, Mita.