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 December 07, 2008

Mortgage Workout Programs are Available
Homeowners who are currently in default or are in danger of falling behind on their mortgage can look for assistance from a variety of sources now available to them.
Newly-established mortgage "workout" programs are available from a variety of lenders and government agencies.

The following can be located on the web by entering the name of the organization or bank onto a popular search engine such as Google:

- Hope for Homeowners (H4H)
- Countrywide Financial (Bank of America)
- Citigroup, Citimortgage
- JP Morgan Chase & Co.
- IndyMac Federal Bank, FDIC
- Federal Government Loan Modification (Participants include: Freddie Mac and Fannie Mae, Wells Fargo, Federal Housing Finance Agency and the Federal Housing Administration.)

If you are a homeowner and are concerned about your future ability to keep current with your mortgage, it is advised that you contact your lender first.

Before you contact your lender be sure to have the following information at hand:

- Loan number
- Bank statements
- Income documentation
- Recent mortgage statement
- A letter explaining your financial hardship.