Everybody already know that the President Obama's Mortgage Modification Program didn't work the way it was intended to; the majority of homeowners that really needed the help didn't qualify for mortgage modification or refinancing due to the rigorous requirements to be considered for the plan.
On the other hand; the Banks and Financial Institutions were offered millions of dollars of incentives to work with homeowners in dangers of foreclosure but their participation was voluntary, so after a careful financial review most of them decided that it was not in their best interest to work with homeowners.
The Government recently announced that they will be working in a new plan to reform the Original Mortgage Modification Program in order to help the people who need the help the most.
But we all know that with the Health Care Reform now in the National first agenda, everything else falls down to the back burner.
In the meantime, unfortunately, homeowners keep losing their homes in a record rate.
The numbers are still staggering and still increasing in some states.
However, there are many things that you as a homeowner can do to delay the foreclosure process and stay in your home for a very long period of time.
Even if you have not job or not income at all there are still many strategies that you can use to fight the lenders and delay the foreclosure process for many years.
Foreclosure will ultimately depend on the ability that you have to use the law in your favor to avoid foreclosure.
Some of the most used strategies to delay the foreclosure process are: a well structure Letter of Hardship, Requiring and prolonging a Court Hearing for many years, finding mistakes in your housing papers, and most dramatic approaches like bankruptcy.
Through the Court Hearing strategy many homeowners have been able to stay in their homes for a very long period of time.
The idea of a Court Hearing is not to win the foreclosure case and keep your home based on that decision; the key is to keep the hearing going on and on for as long as it is legally possible.
On the other hand, the idea of finding errors in the Housing Contract consists in using the mistakes you find to fight the foreclosure process against your lender.
This strategy is very used by lawyers all around the United States.
These strategies if used properly may delay the foreclosure process for a few years without making any mortgage monthly payments, and they are free to implement; you don't ever need a lawyer if you know how to proceed every step of the way.