Blaine, Washington, April 16, 2009, USA – One in nine homeowners,
according to Administration officials will be helped by the new Federal
Homeowner Assistance Plan
. Struggling homeowners ranging from
low-income to first time homeowners to well off borrowers who owe more
than what their home is worth will receive assistance from the government’s new Federal Homeowner Assistance Plan.

“If you are a homeowner and your home value has plummeted in the recent
downturn and you can’t refinance at lower rates you may qualify for the
Home Affordable Refinance program, or if you have fallen on hard times
due to illness or loss of employment and are in danger of slipping into
foreclosure, you may qualify for the Home Affordable Modification
,” said Justin Lee, CEO of, LLC

To qualify for either program a homeowner must live in the home, loan
must not be in default already and his or her loan must be secured by
either Fannie Mae or Freddie Mac.  The homeowner will need to
contact the company that services his or her  loan, Freddie
Mac or Fannie Mae.

If a homeowner qualifies  for either plan, he will need to
call his lender and tell them that he wants to take advantage of the
Federal homeowner assistance plan that is applicable.

For example: if someone purchased a 0,000 home and put down the
traditional 20% downpayment and took out a 0,000 mortgage, with the
Federal homeowner assistance plan, he could refinance if the home is currently valued
at under 0,000. In this case, the loan would be worth more than 80%
of the value of the home.

The market value of the home must be between 80% – 105% of the mortgage
for a homeowner  to qualify for assistance from the new
Federal Homeowner Assistance Plan. If the home value has fallen so low that the mortgage
is  worth 105% or more, then the homeowner will not qualify.

“Even if a homeowner falls within the guidelines of the Federal
Homeowner Assistance Plan, he  will still need to prove to his
lender that
he can afford the new mortgage.  Foreclosure prevention
experts like can help homeowners determine if
they qualify for the assistance and help them obtain this assistance,”
said Dreama Lee, President of, LLC.

Though a homeowner may feel that he qualifies for the Federal Homeowner Assistance Plan,
those with no income probably won’t qualify. If you’ve lost your job
and have no income, the Administration has been pretty straight forward
- the program won’t stop foreclosure for everyone.

If a homeowner is a Federal employee with security clearance he or she
does not qualify for this assistance.  Filing for bankruptcy,
to take advantage of some of the plan’s assistance, may cause Federal
employees with a security clearance to lose their job.

Whether someone qualifies  or not, turning to established
professionals, such as can help
homeowners  stop foreclosure on their home, or see if they
even qualify for a loan modification.

For additional
information, Contact:

Penny Fletcher, LLC

1685 H. ST., #679

Blaine, WA 98230

Ph: 604-714-0490  


specializes in helping clients who have fallen behind on their mortgage
payments or are facing foreclosure.  The company has local
representatives across North America who can offer comprehensive
solutions to foreclosure problems. was originally launched in
2004.  As a family owned and operated company providing
foreclosure prevention and consultation service, the company has grown
into an international firm with local representatives throughout the
United States and Canada helping homeowners stop foreclosure.

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