If you owe more on your mortgage than the home’s current market value, then you are in an “upside down” or negative equity position with your mortgage How does this happen when mortgage companies generally require a 10% to 20% down payment, giving you an automatic equity in the home

If you are having trouble keeping your home out of foreclosure, and your lender is offering you no help in restructuring your mortgage, you may qualify for court mediation Through the new national economic stimulus plan, judges can act as a mediator between you and your lender to arrange a win/win solution – which will allow you to keep your home, while your mortgage company continues making money on their investment

18 million homes were foreclosed in 2008

With the new mortgage bailout plan, many homeowners are questioning whether or not they should continue to pay their mortgages If you do make your mortgage payments on time, can you still receive help from the proposed mortgage bailout plan

If you have stopped making your mortgage payments, how long you can stay in the home becomes a looming question Depending upon what state you live in, as well as your lender’s foreclosure procedures, it could take months, or even years, for the foreclosure process to end in an eviction

Many Americans are in a dire financial situation – companies are laying off thousands of employees, jobless rates continue to climb, and those out of a job are faced with finding the means to support their families Most pressingly, homeowners must continue to pay on their mortgage and avoid losing their home in foreclosure

Homeowners across the country are finding that their home values are plummeting Some are so low that their actual present home value is less than what they actually owe on their mortgage

Are you one of the millions of Americans who fear that company cutbacks may cause you to lose your job With the national unemployment rate at the highest in 26 years, touching 8

National jobless figures released in March 2009 have revealed that the national unemployment rate stands now at 81 percent – which is the highest it has been in 26 years

Do legitimate companies exist that can really help homeowners prevent foreclosure and assist them in keeping their homes The short answer is “yes