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Have you been defaulting on your mortgage payments? Are you scared your home would be foreclosed? If you have answered yes to these questions, then don't get worried as you are not alone. There are thousands of other people who battle these questions. The good news though is - Mortgage Loan Modification Programs are here to help!

One of the first things you need to do to work it out is know how does a loan modification program work? Just so you know, it is rigorous sequence of a lot of process steps, and it is important for you to understand these steps.

Second, pile up all your financial documents. This will help you when you get to speaking with your bank on the loan modification deal.

Third, write a loan modification hardship letter to the bank. Be concise in the letter and explain to your bank why you are not in a position to pay their mortgage payments. Be sure to quote a reason which ties in with your financial position. Telling your bank that you are not able to pay because your Dog gave birth to few puppies will take you nowhere!

Fourth, be prepared to pay something. These programs are not moratorium programs from any perspective. At best, banks will be able to accommodate a reduction in the interest for your repayment. At the end of the day, you will still need to pay banks based on the loan modification agreement.

Fifth, if you want it to be a success, then you must do two Rs well - Research and Repayment. Research well to find out the best deal for you. And once you finalize the deal, make sure you honor the repayments as agreed.

Mortgage Loan Modification programs work really well for most people and helps them in saving their homes. If you have been defaulting on your mortgage payments, it is time for you to rush to your bank and speak to them about these programs.

To get started today, click here.

Put yourself at the intersection of great buying opportunities and available investment cash. With low interest rates, now is the perfect time to re-finance you primary residence and have the down-payment ready for your next real estate investment purchase (like I did).

There are several good reasons to re-finance your property now, including:

1. Put your equity to work

By refinancing now, you take money out of your primary residence where it is just unproductively laying around, and put it to work as a down payment on a new property. It may be easier than you think. With fewer people taking out loans, loan companies are eager for business. And in a refinance, the process is faster than when you purchase a house, and best of all, there is no cash out of your pocket for a down payment. You just keep 20% in the house from what is already there in equity.

2. Interest rates are low

Interest rates are at unusually low rates, presently around 6% for purchasing a primary residence and 7% for an investment property. With inflation rumbling in the distance, interest rates are bound to climb soon.

3. It's a buyer's market

Bargains abound in today's market. Even though it's a bad time to sell, many people have no choice but to sell. Their backs are against the wall. People who must sell include: people who are retiring, who must move for jobs, who are going through divorce, and who have a death in the family, not to mention the unprecedented numbers of people who are facing foreclosure.

In addition, in this soft market for sellers, sellers are willing to help you overcome obstacles to buying a house. I have found sellers eager to help pay for buyers closing costs, and for house repair costs. Sellers are not in a position to get their ideal price for a house. Any buyer who shows up with a reasonable offer will find a seller willing to work with them. And that translates into lower closing costs for the buyer.

What are you waiting for? The stars are lined up for you to re-finance and be ready for a great investment bargain to come along.

Terry Sprouse is author of the book "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-Up and Rental Business in Your Spare Time."

Terry's blog & webpages:
http://www.fixemup.org
http://www.planetabooks.com