Hermosa Beach, CA (PRWEB) August 26, 2008
Given that its launch 6 months ago, The Wisdom Organizations, LLC has seen tremendous development in visitors to their most current consumer-aid web site, http://www.HomeForeclosureFighter.com , targeted at the millions of Americans facing foreclosure following the housing crisis earlier this year. With statistics pointing to foreclosure filings escalating 93% more than final year and projections for 2 million foreclosure filings in 2008, HomeForeclosureFighter.com provides distressed residence owners with details and sources about loan modification and other options for avoiding foreclosure. Currently this year, the internet site has helped nearly one hundred,000 property owners connect with Foreclosure Prevention Specialists that specialize in assisting borrowers cease foreclosure.

“The fast increase in foreclosures this year has led several lenders to consider loan modification as a strategy of loss mitigation,” explained Mark McKendry, CEO of The Wisdom Firms. “Our aim for the web site is to aid connect home owners facing foreclosure with Foreclosure Prevention Specialists, given that numerous home owners are not conscious of loan modification or how to start off the approach.”

Loan modification includes renegotiating the terms of a loan that are a lot more favorable to distressed borrowers, even though nevertheless sustaining the lender’s interest in the debt. Modification of the loan can involve lowering the interest rate, changing the price from adjustable to fixed, lengthening the term of the loan, and lowering the principal, as effectively as other significantly less common approaches.

Due to the quantity of foreclosures and the high cost of legal proceedings generally associated with the foreclosure approach, loan modification has emerged as one particular remedy for the crisis. The housing relief bill passed by Congress in late July was centered about a package of loan guarantees to aid distressed borrowers refinance into market-rate mortgages with far more favorable terms. Just final week, the FDIC announced a program to systematically modify the loans of at least 25,000 home owners with mortgages held by failed lender IndyMac.

HomeForeclosureFighter.com hopes to fill a gap in on the web services that cater to those facing foreclosure. Borrowers can discover a lot more about the options to foreclosure and the foreclosure process via the resources provided by the website. For those seeking the assist of a Foreclosure Prevention Specialist, they can simply offer some simple info about their circumstance and get matched with service providers who may offer competing alternatives to support the borrower keep away from foreclosure. The borrower can review the proposals and choose the selection that greatest meets their wants, despite the fact that they are below no obligation to accept any of the proposals.

About The Wisdom Businesses:
The Wisdom Businesses is a premiere provider of targeted on the internet advertising services. The company streamlines the client acquisition process by matching targeted buyers with prime service providers. Since 2002, Wisdom has connected more than one million extremely motivated shoppers with monetary solutions firms in the mortgage, insurance and credit industries.

For more information, please go to: http://www.thewisdomco.com
For far more info about foreclosure aid, please visit: http://www.homeforeclosurefighter.com

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