Gulf Shores, Alabama - Programs offer help to prevent foreclosure
By Scott & Tinsley Myrick, Gulf Coast Real Estate Professionals
(RE/MAX of Orange Beach)
Programs offer help to prevent foreclosure Sunday, March 01, 2009 By KATHY JUMPER Real Estate Editor Help is on the way for homeowners facing foreclosure, starting Wednesday. The $75 billion federal Homeowner Affordability and Stability Plan is aimed at helping families restructure or refinance mortgages to avoid losing their homes. The plan also gives lenders incentives to modify mortgages for struggling homeowners, in turn reducing the foreclosure inventory. "I'm very hopeful and optimistic that this will work," Sandra Dunaway, director of Consumer Credit Counseling Service of Mobile, said last week. She said her office is seeing 40 to 50 homeowners a month for foreclosure prevention help. "I'm hoping that consumers will come to us first," Dunaway said. "We don't want them to set them...
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