With an expected 2.5 million foreclosures estimated in the US this year you can beat one of your neighbors is in this situation. A bad situation caused by the economy, job loss and predatory lending. Predatory lening is the act of preying on borrowers and selling loan programs that are not best for the borrower knowing they may have trouble with the rate adjust in 2 to 3 years.

The most common mortgage sold to a new homeowner over the last 5 years is an ARM or Adjustable Rate Mortgage. More commonly a 2/28 or 3/27 ARM. Meaing the rate is fixed for the first 2 or 3 years and adjust every year there after based on different rates in in the financial market. We will not get to deep into that aspect of an ARM. What we will talk about is the effect the ARM has had on the foreclosure market and why it and predatory lending has caused the blunt of the foreclosures in the US today.

Several years ago a borrowers with a credit score as low as 500 with multiple collections or judgements could get a loan at 100% LTV (Loan to Value, the loan amount copared to the value). Why lend to a person with no solid track record of paying bills and with little or no money down?

Exactly the question being asked over the last year as the mortgage industry has gone from here to zero with millions losing their home to foreclosure. Millions of Americans are asking "How can I save my home from foreclosure?".

There are a few options and we have listed them below. The number one option is America is Loan Modification by a Loan Modification or Foreclosure Attorney. This allows a homeowner to save a home from foreclosure and keep their current mortgage.

Here are the top 5 options available ranked from #1 to #5

1. Mortgage modification, which refinances the debt and/or extends the term and reduces the interest rate of the mortgage loan to bring payments to a more affordable level to the borrower - Best option - Use our form above for a free consultation! Special forbearance, which can help meet a new repayment plan by providing a temporary reduction or suspension of payment. Good option - Use our form above for a free consultation!

3. A soft second loan, which is a second mortgage whose payment is forgiven or deferred until resale of the property Pre-foreclosure sale, which will allow sale of the property and pay off the mortgage loan.

4. Deed-in-lieu of foreclosure, which transfers title from borrower to lender to satisfy the mortgage debt ("voluntary conveyance").

5. Partial claim payment paid to the lender, which brings the mortgage current with special assistance from the United States Department of Housing and Urban Development (HUD) by way of an interest free loan upon execution of a promissory note and subordinate charge over the property.

Many homeowners are facing foreclosure because they did not fully understand what they were signing at the mortgage closing table. They were only looking at the dream of owning a home or a lower mortgage rate. Whether it is considered predatory lending or not, do not let it happen again.

Please visit http://MyLoanSavers.com for a Free Consultation on how to save your home from foreclosrue.

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