Article by YourHomestart.com

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California has the fourth highest foreclosure rate in the nation, and the overwhelming foreclosure activity isn’t limited to the coast. In December 2009, 1 in every 87 homes in Bakersfield and 1 in every 104 homes in Modesto foreclosed, according to RealtyTrac. While the situation may seem discouraging, HomeStart offers free consultations and excellent customer service to help you get a loan modification that will keep you in your home!

Now more than ever, lenders are willing to renegotiate the loan terms. Not only do lenders save more money by modifying a loan than foreclosing on a property, but President Obama’s new Homeowner and Stability Plan (HASP) further incentivizes lenders to offer loan modifications. These loan modifications entail permanent adjustments to the loan terms that can allow homeowners to maintain their mortgage payments and keep their homes. HomeStart will determine if you qualify for a loan modification and get the process started with no upfront fees.

Why choose HomeStart over a law firm?

There are a number of reasons to choose a loan modification specialist like HomeStart over a law firm. The cost is usually much higher with a law firm. Law firms typically do not offer fixed rates for home loan modifications. They often charge hourly, which can lead to prices 2 to 3 times higher than those of loan modification specialists. Lawyers charging hourly will want to maximize their profit, which means the loan modification process will not only be more costly, but take more of your time. Law firms also do not uphold the same standard of customer service as HomeStart does, knowing that they are a last resort. If you want to save money, time and experience better service, HomeStart is here to help you start new, not over.

Here is an example of a recent loan modification performed by HomeStart:

Property in CaliforniaTotal monthly savings of $ 1,132.38/month

* Primary Residence:Loan amount of $ 298,819 with an interest rate of 5.875% and monthly mortgage payments of $ 2,445.30.

* Modified to:Interest Rate of 3.875% and new monthly mortgage payments of $ 1,312.92 fixed for 5 years; final interest rate of 5.375% and $ 1,481.94 monthly payments.

For more information please visit www.YourHomestart.com