You are in a situation many homeowners are facing right now. I applaud you for taking action now before your home enters the foreclosure process.
The Administration has introduced a plan to help homeowners in crisis by reducing their monthly mortgage payments to more affordable levels.
The Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.
You can find detailed information at: