Facing Foreclosure? A New Online Tool Will Help You Organize and Understand Your Options
Thursday November 13, 2008
Here is a great resource for the many U.S. residents who are, or may be facing in the future, foreclosure of their home. It is the Mortgage Options Assessment Tool by PMI Mortgage Insurance Co. According to www.marketwatch.com, "The Mortgage Options Assessment Tool enables homeowners to organize, calculate, and produce reports on their current financial situations prior to meeting their lenders or counselors to discuss solutions to foreclosure. This is a free online tool available to anyone.
When homeowners log on to www.HomeSafePMI.com, they can click on the Mortgage Options Assessment icon on the home page. In the form, homeowners can input relevant information, such as property information, income, assets and monthly expenses, to create a report that they can use when meeting with their lenders or counselors. After inputting the information, homeowners can print the completed form to take with them to meetings with their financial advisors. PMI does not save or collect any personal information that it could use to identify homeowners."
Don’t forget to investigate your expenses that are able to be lowered such as insurance. Many peple today that are struggling to keep up with the rising costs of being alive sometimes overlook the simple things like homeowners insurance, auto insurance, and health insurance. Rather than drop the insurance or keep paying high rates, shop around with some local agents. If you can cut your insurance rates in half or even a quarter, on average you could save over a hundred dollars a month. Every little bit helps in these tough times.