Trouble Finding Help?

We have previously mentioned for those of you worried about foreclosure, that it is increasingly possible to have the bank holding your mortgage modify the terms of the mortgage, making it easier for you to make the payments and make them on time. You basically have to call the bank and tell them of your problem, and, with proof of why you're in the situation and how you can get out of it, get them to modify the terms of your loan.
The big problem for many in this situation, it turns out, is that the lenders haven't been making it easy to find the right people to talk to at the bank. Freddie Mac, in a recently released report, said that 57% of all delinquent borrowers didn't even know they had options to alleviate their troubles. Defining delinquent borrowers as those at least a month behind in their payments, the survey found that many knew nothing about what options might exist or what, if any, applied to them in any given case.
These statistics could drop now as an industry group established to help ease the crisis, Hope Now, recently completed a mass mailing of 500,000 letters to delinquent borrowers. These letters directed the homeowners to a toll free counseling telephone number, (888) 995-4673, where they could get direction and assistance in possibly resolving their individual situations.
With numbers of defaults and foreclosures continuing to increase, and costs and losses to banks rising with every new foreclosure, it behooves the banks to make such assistance more accessible than they did previously. Every foreclosure avoided benefits BOTH sides--the banks and the homeowner whose house is at risk.