The Bailout Rescue Plan
The plan calls for the Federal government to release funds to ailing homeowners who need help or face foreclosure in the near future. While the deal sounds good on paper, the truth is that the funds may not reach you in time to stave off the inevitable and without proper action you might lose your home just as well. Most mortgages have a two month grace period which should have you paying up or lose having your home up for auction. The problem faced by the federal government is that they are having a hard time to get the money out simply because they have to analyze a lot of paper work for them to decide you really need help.
They are very cautious of these funds for they are liable for any mis-allocations and more people are turning to rescue companies who often get lost after they are paid. These companies promise help and assistance with your mortgage, jumping ship after full payment is done and settled. All activities of such nature should be reported to the authorities so other homeowners are advised and prevented from similar mistakes.