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AVOIDING FORECLOSURE: YOU HAVE OPTIONS

<span class=”Apple-style-span” style=”font-family: Arial; font-size: 13px; “><h1 style=”font-family: Arial, Helvetica, sans-serif; color: rgb(217, 118, 0); font-size: 1.75em; padding-top: 22px; padding-right: 0px; padding-bottom: 8px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-weight: normal; “><br /></h1><h3 style=”font-family: Arial, Helvetica, sans-serif; font-size: 14px; color: rgb(0, 0, 0); margin-top: 2px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; “>Freddie Mac has put out this quick guide on how to avoid foreclosure.  It will give you some basic ideas in what to do.  We at U S Loans Mortgage may be able to help you too.  Please contact us at 877-562-5123 and let’s talk!</h3><h3 style=”font-family: Arial, Helvetica, sans-serif; font-size: 14px; color: rgb(0, 0, 0); margin-top: 2px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; “>Freddie Mac Offers Tips, Resources to Borrowers<br /></h3><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “></p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>McLean, VA – In light of the national mortgage crisis, Freddie Mac cautions homeowners that awareness is one of the keys to avoiding foreclosure.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>“By recognizing the warning signs of foreclosure and taking steps early, you can get help and hopefully save your home,” said Ingrid Beckles, vice president of Servicing and Asset Management for Freddie Mac. “Many lenders offer assistance and alternatives to help borrowers.”</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>According to a recent survey by Roper Public Affairs and Media, 57 percent of the nation’s late-paying borrowers didn’t know their lenders offered resources and alternatives to help them avoid foreclosures.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>“Call your lender immediately if you are having difficulty paying your mortgage,” Beckles said. “The sooner a borrower calls, the better their chances of getting a successful workout.”</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>Borrowers who do not pay their monthly mortgage could eventually end up in foreclosure—meaning the lender can take ownership of the house. A foreclosure will become part of your credit report and may affect your ability to get credit in the future.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “><b>Warning Signs of Financial Problems</b></p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>The early warning signs of financial problems that can lead to foreclosure if a homeowner does not act quickly include:</p><ul class=”list” style=”font-family: Arial, Helvetica, sans-serif; list-style-type: none; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 0.5em; margin-right: 0.5em; margin-bottom: 1.5em; margin-left: 0.5em; “><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Maxing out credit cards</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Using credit to pay for day-to-day expenses, such as groceries, utilities, etc.</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Being unable to pay bills on time</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Paying only the minimum amount on credit cards</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Applying for new credit cards after maxing out on existing ones</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Having to choose which bills to pay</li></ul><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>“Talk to a housing counselor immediately if you see these signs,” Beckles said. “You may be able to get your finances back on track before foreclosure becomes a reality.”</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “><b>Alternatives for Foreclosure</b></p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>Depending upon your situation, your mortgage company may be able to provide you with temporary financial relief. Here are a number of alternatives to discuss with your mortgage company.</p><ul class=”list” style=”font-family: Arial, Helvetica, sans-serif; list-style-type: none; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 0.5em; margin-right: 0.5em; margin-bottom: 1.5em; margin-left: 0.5em; “><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “><strong>Forbearance</strong> is an agreement to temporarily let you pay less than the full amount of your mortgage payment, or pay nothing at all, during the forbearance period. Mortgage companies may consider forbearance when you can show that funds from a bonus, tax refund, or other source will let you bring the mortgage current at a specific time in the future.</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “><strong>Repayment plans </strong><strong>are</strong> agreements that can give you a fixed amount of time to repay the amount you are behind by combining a portion of what is past due with your regular monthly payment. At the end of the repayment period you have gradually paid back the amount of your mortgage that was delinquent.</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “><strong>Loan Modifications</strong><strong> are </strong>written agreements between you and your mortgage company that permanently changes one or more of the original terms of your note to make the payments more affordable. Loan modifications can include:</li><ul class=”list” style=”font-family: Arial, Helvetica, sans-serif; list-style-type: none; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 0.5em; margin-right: 0.5em; margin-bottom: 0.5em; margin-left: 0.5em; “><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Adding missed payments to the existing loan balance</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Extending the number of years you have to repay</li><li style=”list-style-type: none; background-image: url(http://www.freddiemac.com/images/bullet1.gif); background-repeat: no-repeat; padding-left: 2.2em; background-position: 0.9em 0.2em; “>Making an adjustable-rate mortgage into a fixed-rate mortgage</li></ul></ul><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>To reach a no-cost housing counselor, contact one of the organizations listed below for information in Chinese, Korean or Vietnamese.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>Call Asian Americans for Equality Community Development Fund based in New York for help in Chinese at 212-964-2288, or Korean call 718-961-0888 or visit their website at www.aafecdf.org.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>For help in Korean call Korean Churches for Community Development based in Los Angeles at 213-985-1500 or visit <a href=”http://www.kccd3300.org/” target=”fmDaughter” style=”font-family: Arial, Helvetica, sans-serif; color: rgb(3, 98, 170); “>www.kccd3300.org</a>.<br /><br />For assistance in Vietnamese, contact Boat People SOS, based in Falls Church, Va., at 703-538-2190 or visit <a href=”http://www.bpsos.org/” target=”fmDaughter” style=”font-family: Arial, Helvetica, sans-serif; color: rgb(3, 98, 170); “>www.bpsos.org</a>.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>National Coalition for Asian Pacific American Community Development (National CAPACD) can also connect local community-based organizations to foreclosure resources and AAPI housing counseling providers. National CAPACD can be reached at 202-223-2442 or www.nationalcapacd.org</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>To reach a housing counselor in English or Spanish, call the free HOPE National Helpline at 888-995-HOPE.</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>Freddie Mac is committed to homeownership education and offers Asian-language materials designed to provide valuable information to consumers about building and maintaining good credit, understanding steps to buying a home and protecting their investment. Called <em>CreditSmart Asian</em>, Freddie Mac’s guidebooks are available online in Chinese, Korean, Vietnamese and English languages at<a href=”http://www.freddiemac.com/creditsmart/creditsmart_asian.html” style=”font-family: Arial, Helvetica, sans-serif; color: rgb(3, 98, 170); “>www.freddiemac.com/creditsmart/creditsmart_asian.html</a>, or through Asian American community organizations across the nation including: Asian Americans for Equality (AAFE), Asian Real Estate Association of America (AREAA), Boat People SOS, Korean Churches for Community Development (KCCD), National Coalition for Asian Pacific American Community Development (National CAPACD), and National Korean American Service & Education Consortium, Inc. (NAKASEC).</p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “></p><p style=”font-family: Arial, Helvetica, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; “>Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.</p></span>

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