Sean Soboleski

Here in North Carolina, loan modifications are one such way by which people are attempting to save their homes. Homeowners all over the country are facing the threat of foreclosure on their homes, whether they've owned their home for decades or just purchased it within the past couple of years....

Before the North Carolina lemon law, or any state's lemon law for that matter, was written, people who had repeat problems with newly purchased vehicles had to count on the mercy of the automaker or dealership to make the situation right. As you might remember, up until about 30 years ago, there were many well-publicized cases in which consumers tried in vain to get the dealer to make their new car "whole" again, the way it should have been when they drove it off the lot in the first place.

There is new legislation geared toward helping homeowners who have fallen behind on mortgage payments. In order to avoid going into default or to stop foreclosure, NC residents who are having difficulty making monthly mortgage payments or have missed one or more payments can see if they qualify for programs in which banks are willing to make loan modifications.

Homeowners looking to stop foreclosure, NC and beyond, can see if they qualify for loan modifications under federally enacted programs such as the Making Home Affordable Program (HAMP). When it comes to loan modifications, NC and SC residents alike have plenty of questions. According to the Department of Housing and Urban Development (HUD) the following are some of the most common.

There is new legislation geared toward helping homeowners who have fallen behind on mortgage payments. In order to avoid going into default or to stop foreclosure, NC residents who are having difficulty making monthly mortgage payments or have missed one or more payments can see if they qualify for programs in which banks are willing to make loan modifications.