Power to the People

http://www.realtor.org/subprime_lending.nsf/Pages/mort_cancellation

This link could save your life, certainly your home. This info is from the NAR, National Association of Realtors. You may have seen ads on TV about this organization. It is a very prestigious organization and insures (in theory) the professionalism of real estate agents. A "realtor" is not the same as a "real estate agent". In order to be a "realtor" you must be a member of the NAR. That is why you see Realtor(r) as a registered trademark. I am a Realtor(r).

Why am I telling you this? Because the above link is real, no pun intended. It is not rumor, it is not spin. So take this info as gospel. If you are behind in your mortgage payments, there is something you can do. The worst thing you can do is nothing. Make a copy of this article and take it to your lender. I'm not saying that your mortgage will go away. But you may be able to catch up or at the very least you may have time to sell before you are foreclosed upon. Foreclosure, as well as bankruptcy, will ruin your credit for a loooonnnngggg time. Especially since the banks are tightening their belts.

So good luck. Take the bull by the horns and do whatever it takes to not let this recession (yes recession) take you down with it.

The deck is stacked against the dwindling middle class. But when the powers that be start feeling the hurt in their pockets, it is time to take advantage of the situation.

Power to the people!