PR Log - NoARM.org Announces FREE Assistance to Homeowners Facing by hxx21282

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									PR Log - Global Press Release Distribution




    NoARM.org Announces FREE Assistance to Homeowners Facing Rising Mortgage Rates or
                                     Foreclosure

       By Stephen Ames
       Dated: Dec 22, 2007

       FREE assistance to homeowners who are facing rising mortgage rates, an impending foreclosure or in
       financial crisis due to predatory lending practices

       United States of America (Press Release) -- HODGENVILLE, Kentucky – The consumer advocacy group
       NoARM announced their nationwide campaign to provide free assistance to homeowners who are facing
       rising mortgage rates, an impending foreclosure or in financial crisis due to predatory lending practices.
       Free assistance is provided through a network of consumer counselors and attorneys who will review each
       case and help the struggling borrowers quickly decide the decision that insures the best result for them.

        There are millions of homeowners with adjustable rate mortgages (ARM) or there are an estimated 1.4
       million people who will lose their home to foreclosure in 2008. “A Jan 2006 study by the Federal Reserve
       said that 35% of people with ARMs didn’t know when their rates would reset or the maximum they might
       pay on those loans. For some people who last refinanced one, two or three years ago – particularly those
       who went with interest-only loans - an increase based on current rates could raise the size of the payment as
       much as 60 percent.” - http://www.fpanet.org/public/tools/articles/FPP1106.cfm

        Few are aware that all mortgages deeds are public information, and available for viewing at all local court
       houses nationwide. We compile exact mortgage information for tens of thousands of ARM holders every
       month. Our goal is to reach as many homeowners in ARMs as possible, make them aware that they are in
       an ARM and tell them the exact date their payment is increasing, and how much their payment is
       increasing. Once supplied with this information, ARM holders, along with our assistance will be able to
       make fully informed decisions.

        Stephen Ames, Co-Founder of NoARM says, “Homeowners feel helpless and let down by lenders they
       have paid on time anywhere from 2-5 years. In some cases, lenders are actually telling borrowers they can’t
       help them unless they miss 1 or more payments first. Add that type of help to the 100’s, if not 1000’s, of
       fly-by-night outfits popping up trying to take advantage of already distressed homeowners and you have a
       recipe for making a bad situation worse. NoARM, and its affiliates are committed to protecting the
       homeowner throughout the process and will always offer its services FREE of charge. If they can’t make
       their $800 mortgage payment, how can they be expected to pay someone $1500 to “see” if they can help
       them?”

        Many homeowners limit their options trying to do such things as loan modifications and restructuring their
       loans on their own. Valuable time is wasted because they didn’t have a group willing to help them and ask
       for nothing in return, that’s why NoARM was formed. We tell everyone that finding out will cost them
       nothing, but doing nothing can cost them everything.

       ###

       About NoARM.org: NoARM is the cooperative effort of two businessmen who are dedicated to preserving
       the American dream for struggling, but hardworking homeowners. NoARM maintains its ability to offer
       free services through private and corporate contributions. 100% of your money is used towards the
       homeowner as there are no paid employees at NoARM.org, 100% committed volunteers.



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For more information, visit http://www.noarm.org or call 88-NOARM-88.

Category           Home, Society, Consumer
Tags               adjustable rate mortgage, loans, Mortgage, rising interest rates, foreclosure, payments, non-profit,
free assistance
Email              Click to email author
Website            http://www.noarm.org
Phone              888-NOARM-88
Fax                240-376-8634
Address            2192 Slack rd
City/Town          Hodgenville
State/Province     Kentucky
Zip                42748
Country            United States




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