(Bridgeton,MO) March 25, 2010 Michael Hathman discusses Foreclosure Prevention

Avoiding mortgage foreclosure represents one of the toughest challenges a person might ever face financially and emotionally.

Online PR News – 27-March-2010 – – People may face foreclosure for many reasons. Extreme changes in life situations- job loss, death, divorce, prolonged illness and many others-or because they must immediately relocate. Foreclosure can occur when payments become three to four or more months late, depending on the mortgage terms. Foreclosure stays on a credit report for seven to 10 years.

The Obama Administration’s Making Home Affordable Program includes opportunities to modify or refinance a mortgage to make monthly payments more affordable. It also includes the Home Affordable Foreclosure Alternatives Program for homeowners who are interested in a short sale or deed-in-lieu of foreclosure.

Lenders or servicers may work closely with good borrowers who are having a period of real emergency and hardship. In some cases, it may be impossible to make any payments at all for some time. For those who have a good record with the lender, a “forbearance plan” will allow them to suspend payments or make reduced payments for a specified length of time.

"Together, we are having an impact – strengthening the housing market, helping responsible homeowners prevent avoidable foreclosures and rebuilding communities and neighborhoods."said Michael Hathman of Smart Solutions Credit Repair.

About SSCR
Smart Solutions Credit Repair is an independent credit repair and financial consulting company, focused exclusively on helping clients improve credit scores, financial security, and overall quality of life. Credit repair is an art. Smart Solutions has built its reputation helping people (often dramatically) improve their FICO credit scores. As part of our streamlined program, clients improve all aspects of their net worth and personal security. Smart Solutions is the best first step in improving your credit.