Mortgage Payment Deferral Inc., Roseville, Calif., has announced the introduction of a patent-pending mortgage program that allows homeowners to defer from three to 36 months of their mortgage payments.The 12 Month Deferral program, or 12MoDef, works by setting aside home equity into a trust account, and the appointed trustee ensures that the mortgage payments are made. The homeowner receives a monthly statement that combines the mortgage and trust account statements. At the end of the deferral period, the trust account is closed, and the borrower receives all the earned interest and resumes making mortgage payments, the company said. "Many of our clients are making job changes, starting families, or struggling with a new business venture, while some are being crushed by meeting the monthly financial burden of their mortgage payment and credit card debt," said Jeremiah Miller, president of Mortgage Payment Deferral. "A year without the stress of a mortgage payment allows people to reassess their financial situation and regain control of their life again." The company can be found online at http://www.12modef.com.

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