It was originally a great idea, before it actually began.
When it started, the government program to help home owners avoid foreclosure seemed to do more harm than good in some cases, and was very frustrating and confusing.
You can not just sign up for the aid, you have to fill out an application and then have your tax statements and income researched.
Basically what they are trying to determine is if you can pay your mortgage on time, but are struggling to do so.
One major problem people are having with this new aid for the prevention of foreclosure is that if you apply, it lowers your credit score.
The majority of people feel that this is unfair because you are paying your bills but would like to save money and not have to struggle as much and you are looking at a hit of at least 100 points.
The truth is that every type of loan modification hurts your score, just not as much as 100 points.
Many experts feel that this is actually fair because you would not sign up for the help unless you are struggling with your bills in the first place, and that a hit of 100 points is actually much better than what a foreclosure would do to your score.
The truth is it is only up to you if the deal is worth it.
You can save hundreds of dollars a month, and if you are struggling that can be a big help.
If you are worried about the credit hit you can always fix your score fast with credit repair.
The credit repair process is great because it can fix your number no matter the reason it was lowered and it can do it quickly.
The process only takes weeks, is effective and very affordable for anyone interested.
By David George