{"id":501,"date":"2017-08-14T07:04:52","date_gmt":"2017-08-14T07:04:52","guid":{"rendered":"http:\/\/www.development-work.com\/mydebt\/?p=501"},"modified":"2020-10-26T07:09:28","modified_gmt":"2020-10-26T07:09:28","slug":"what-you-need-to-know-about-mortgage-debt-relief","status":"publish","type":"post","link":"https:\/\/www.mydebtacademy.com\/mortgage-loans-debt\/what-you-need-to-know-about-mortgage-debt-relief\/","title":{"rendered":"What You Need To Know About Mortgage Debt Relief"},"content":{"rendered":"

After the\u00a0housing crash<\/a>\u00a0in the early 2000’s, thousands of people lost their homes to foreclosure or found themselves upside down on their loans, unable to sell their home to anything close to its original worth.<\/p>\n

The economy and market are changing, but homeowners still occasionally find themselves in a tight spot with their mortgage.<\/p>\n

And sometimes, you can possibly restructure or renegotiate the loan terms. This is just to help keep you out of hot water with a mortgage company. Sometimes, you can persuade Mortgage Lenders. This is to forgive a portion of your mortgage. This is particularly in the case of a short sale, where the house is not worth enough anymore. It is meant for covering the original amount owed to the bank.<\/p>\n

This sounds great, right? You’re free from a burdensome mortgage, and what you owed is forgiven. Win-win, right?<\/p>\n

Like with most personal debt solutions, mortgage debt relief is not without its downsides. And like with any debt relief program, it’s important to have all the facts before you take advantage of them.<\/p>\n

So let’s unpack a few need-to-know facts about mortgage debt relief. Before we do, though, it’s important to know one key phrase:<\/p>\n<\/div>