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We all know that the mortgage sector of housing has had its ups and downs recently. Good news is that several companies are trying to help homeowners who are struggling to make their payments. It is called Project Lifeline and I recommend that anyone in a little trouble look into this program. Here are a couple of key points:

1. The Major players are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc., and Wells Fargo & Co.

2. Applies to Homeowners that are more than 90 days past due on their payments

Many people are calling this a "Band-Aid" and many are afraid that it will be just like the Hope NOW program and not really help.

My thought is that if you need help, there is not hurt for you to try and take advantage of this program. Yes, it may only delay the inevitable, but do you want to take the chance of not doing it when it may work?

I know that it may seem "scary" to pick up the phone and call your lender, but it may help you not lose your home! See if you can work something out with them; in most cases they would rather work something out with you than go through the expensive foreclosure process.