Foreclosure Aid

When your financial problems have devolved to the point where losing your home seems like it may be a possibility, you may feel as if there is nowhere to turn. However, there are a number of federal, state, and municipal government programs that are dedicated exclusively to providing families in crisis with foreclosure aid and advice. In addition, there thousands of community groups and nonprofit organizations available to help lend you support and assistance during this difficult time. For homeowners that hold certain types of mortgages, it may be possible to get financial assistance to help you weather these difficult times. Special programs exist to help homeowners with FHA loans and VA loans. In addition, if you have encountered financial difficulties due to a natural disaster or fraudulent lending practices, you may also have special resources at your disposal. For immediate assistance and advice about a situation in which you fear that foreclosure may be imminent, your best bet is to contact a certified foreclosure prevention specialist in your area. If they are affiliated with the government or a nonprofit group, such a counselor will be able to give you an assessment and refer you to resources that might help alleviate some of the financial strain your are under. You can find information about resources in your area at http://www.hud.gov/offices/hsg/sfh/hcc/fc/.

Fast Facts

  • After the second missed mortgage payment, your lender is likely to begin contacting you by telephone to find out more about your situation and develop an alternate solution to the problem. Although discussing the problem may be unpleasant, it is better to take the calls and address the situation head on now, rather than allowing foreclosure proceedings to accelerate.

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