In 2007, the Mortgage Debt Relief Act was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash, suddenly found themselves in danger of losing their home to foreclosure.
The act has helped many distressed homeowners find solutions to avoid foreclosure and opened up options to them that were previously unavailable.
The Mortgage Debt Relief Act, however, was only intended to be a temporary solution and is now set to expire at the end of 2012. There is a bill in Congress that would extend it, but it is unclear if it will pass. For distressed homeowners, this means that time is limited to take advantage of this program.
Time is running out. But there is still a chance to change your financial direction and avoid foreclosure.
Nikki Songie – email@example.com