Failure of federal mortgage aid continues to effect loan modification process.

Recent reports regarding the status of the mortgage aid programs laid out by the Federal government is that they have fallen far short of expectations. As of November 30, the monies spent on loan modification programs was just $2.8 billion of the $46 billion devoted to the housing crisis. One such mortgage aid program was the Federal Housing Administration Short Refinance program, which intended to help 500,000 to 1.5 million loan modifications only helped about 400 homeowners. With only a .06% of the money set aside for mortgage aid spent, what are ailing homeowners to do?

At John Brady and Associates, we can help you where the banks have not. The real mortgage aid that homeowners have is under the federal protection of a chapter 7 or a chapter 13 bankruptcy. We have had clients who were in their loan modification process and still receive a foreclosure notice from their bank! You can possibly save your home and clear all if not most of your debt under a Chapter 13 filing.  Our dedicated attorneys and staff are ready to answer any questions for concerns you may have. Call our offices today at 800-281-3733 or visit us at www.californiabankruptcygroup.com.