In addition to what is mentioned above, the Home Affordable Modification Program has also been enhanced and a new version was created by the federal government. Improvements to it will allow a larger number of homeowners the ability to apply for assistance, including principal reductions or loan modifications that will have an even lower interest rate.
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One of the easiest ways to obtain a mortgage loan is to work with your existing bank. If you already have a relationship with a bank in the US, the process of applying for a mortgage is relatively painless. However, you may find that your bank can't provide you with the best possible deal. It can pay off to speak with underwriters at different financial institutions. In addition to mortgage rates, you should also ask them about their origination fees and various closing costs and fees.
Following the financial crash of 2008 and the subsequent collapse of the housing bubble, many (but not all) real estate markets eventually recovered. Entered into in a prudent way, home ownership remains something you should consider in your long-term financial planning. Understanding how mortgages and their interest rates work is the best way to ensure that you're building that asset in the most financially beneficial way. 
Mortgage forbearance programs are offered by numerous lenders, including Bank of America, JP Morgan, Citibank, and Wells Fargo. Forbearance allows borrowers a temporary suspension of their monthly mortgage payments. So a homeowner will have time to explore their options, receive counseling, or modify their loan during this timeframe. In addition, a foreclosure on your home will not occur during the forbearance period. Learn more on mortgage forbearance.
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