Last week mortgage backed securities, the investment vehicle behind mortgage rates, traded relatively flat and closed the week slightly improved over the past few weeks.Â As a result, mortgage rates improved modestly as lenders lowered borrowing costs from .125 to .375 in points.
This is welcome news to thousands of Americans in trouble with their mortgages, many of them facing foreclosure
.Â One option a lot of homeowners are turning to before considering foreclosure is a loan modification
to lower your monthly payments and obtain the possible interest rates possible. Â
Unfortunately, there are a lot of scam artists in the market today just waiting to take advantage of un-suspecting home owners looking to re-negotiate their mortgage. Â
â€œItâ€™s disappointing to see and hear, but there are scammers who are more than happy to take advantage of someone who is in need of help.Â If you are upside down in your mortgage and are considering re-negotiating your home mortgage, do a bit of research before settling on a representative.Â This will save you from the potential of making a difficult situation disastrous.â€ says a representative from RE Acquisitions
, a loan modification specialist company in Portland, Oregon.
If you are a homeowner looking to re-negotiate your mortgage, make sure your loan modification partner
meets the following requirements:
â€¢Â Â Â Over ten years experience in the loan modification industry
â€¢Â Â Â Proven experience obtaining the best possible interest rates for their clients
â€¢Â Â Â The ability to help their clients get refinanced when others say no
â€¢Â Â Â The ability to create a workable payment plan
â€¢Â Â Â The ability to get their clientsâ€™ loan modification approved in as little as three days
For additional information on loan modifications, or preventing foreclosure on your home, please visit: http://www.sellhomeowner.com.