For homeowners sick of the hassle of trying to get a lender to help with a mortgage modification, a new website, Homeowner Connect, promises some relief.
As a result of the $25 billion National Mortgage Settlement with the five largest mortgage servicers -- GMAC/Ally, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo -- a consumer-friendly website was developed and funded by GMAC to assist struggling homeowners with handling their own applications, checking the status, and locating Department of Housing and Urban Development-approved counselors to help at any point in the modification process. The National Mortgage Settlement was announced in February by 49 of the state attorneys general and the federal government.
According to the website description, Homeowner Connect "provides homeowners with the tools and knowledge necessary to be able to make informed decisions about what options are available to them, and to take the next steps towards pursuing a foreclosure alternative."
The site launched last month and, so far, is only available to GMAC Mortgage customers. It's a division of Hope LoanPort, a nonprofit website for HUD-approved counselors assisting homeowners with applications.
Find Homeowner Connect at HomeownerConnect.org.
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