Several counties across the US are reporting higher foreclosure numbers in March 2008 compared to March 2009. With a decline in foreclosures from December through February of this year it seemed as if the worst was behind us and foreclosure relief efforts were a success. The spike in foreclosures for the month of March in many counties are skewed due to ending moratoriums that were enacted in some areas. These moratoriums were put in place to halt all foreclosures until local governments could process what foreclosures were already waiting to be processed. Now with the end of many moratorium periods it is creating a spike in foreclosure numbers.Does this mean that foreclosure relief efforts by the government and private foreclosure assistance programs are not working? No. Actually, exposure to new mortgage relief plans by the Obama Administration have opened up options to millions of homeowners facing bank foreclosure. Bank foreclosure numbers are expected to decrease due in large part to mortgage loan assistance programs that are committed to educating homeowners on bank foreclosure alternatives, including government and non-government bank foreclosure programs.Typically the first option for homeowners facing bank foreclosure is to refinance. New government programs now offer options for homeowners to refinance before bank foreclosure even becomes a possibility. This refinance program by the government, Making Home Affordable Refinance, is geared towards homeowners that are not able to refinance due to negative equity in their home. Negative equity is very common in areas such as Southern California due to historic decreases in home values. The Making Home Affordable Program can help homeowners that are not currently late on their mortgage and have the income to support a refinance. Homeowners that do not qualify for the Making Home Affordable Refinance may be eligible for a mortgage modification.Mortgage loan modification is pretty simple to understand; however, getting the best terms during a loan modification are not so simple. For homeowners facing foreclosure or struggling with late mortgage payments many lenders will approve a mortgage loan modification in hopes of avoiding foreclosure. Mortgage loan modification has been a key part in stopping millions of potential foreclosures. The terms, rate and mortgage payments negotiated during a mortgage loan modification will determine if a homeowner faces foreclosure again. Many mortgage loan modification companies and even your lender are going to accept the first modification offered. This is why working with an experienced mortgage loan modification or foreclosure assistance company is recommended. It just like hiring a personal injury attorney when you are hurt in an accident, are you going to negotiate based on real estate law and your foreclosure rights with your lender?Many experts are predicting a new wave of foreclosures by the middle of this year due to millions of new adjustment periods on Adjustable Rate Mortgages. Homeowners that purchased a new home over the last several years were placed in Adjustable Rate Mortgages or an ARM. These mortgage are going to reset and put more homeowners in financial distress.Foreclosure options vary and foreclosure laws also do from state to state. Knowing your foreclosure rights and alternatives to foreclosure is critical. Take the time to educate your self on your foreclosure options before you select any program including government foreclosure programs. Find out what is best for you and your unique situation.Visit our website at WeSaveHomes.com

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