The Preserving Homes And Communities Act

Our government is trying to assist more homeowners that are facing foreclosure with senate bill S1731 . The bill’s intent is to force the lenders to do a loan modification analysis on loans that are in trouble or going to be in trouble, to see if it is possible to lower their payments. By keeping people in their homes and not going into foreclosure, property values should not decline and will help hold the prices up for the area. If more foreclosures hit the market place, it would drag all of the other homes for sale in the area down.