Welcome to Foreclosure Help Guide
Government Loans To Help With Foreclosure Article
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Help Stop Foreclosure
from:There are many companies that offer to help stop foreclosure. Most are legitimate companies that are able to help the foreclosure process. There are others that are looking to prey on you when you are weak and desperate. It is important that you properly research any company that you consider working with to help stop foreclosure. There are also many free resources that are available. The internet is a great place to access this information. Make sure that you do your homework before allowing anyone to help.
The best place to start is to communicate with your lender. They are in a unique position to help you. They have quite a bit at stake if your property goes into foreclosure. It is estimated that lenders lose between fifty to sixty thousand dollars every time a property is foreclosed on. They are in the business of lending money, not owning or selling houses. There are also laws that prevent lenders from making a profit on foreclosed properties. They tend to be motivated to help stop foreclosure. It is important to never ignore any communication that your lender sends you. There are programs that are available when you are only 1-2 payments behind that are not available the further behind you get. The initial letters will provide valuable information to help stop foreclosure.
The US Department of Housing and Urban Development (HUD) is a great resource when finding help stopping foreclosure. Their web site offers many tips that you can do on your own that may be enough to help stop foreclosure. The web site also offers information to contact HUD counselors that are trained to help stop foreclosure. These counselors either provide their assistance free of charge or for a minimal fee. Some other companies will charge fees as high as 2-3 times you current mortgage payment, so HUD counselors are a valuable place to start.
If you do end up working with a company that can help stop foreclosure, make sure you research them extensively. Check the Better Business Bureau in your area to see if they have any grievances against them. Never agree to sign something that you don’t agree with or understand. It is not uncommon to find others that claim to help stop foreclosure, but are only looking to take advantage of your situation. Be leery of those that claim to be able to solve your problems by signing a few papers. You may be signing away ownership of your home. Also be weary of those that offer the counsel to stop paying your mortgage. They do not have your best interest at heart.
Government Loans To Help With Foreclosure News
Lawmakers Gave Millions from Mortgage Settlement to Local Governments - LoanSafe
Lawmakers Gave Millions from Mortgage Settlement to Local Governments LoanSafe No matter how deserving local governments may be, the diversions came at the expense of homeowners in tough situations, said Regina Chaney, who helps homeowners negotiate the terms of their loans with Housing Opportunities Made Equal of Virginia, ... |
CredAbility Supports HUD Studies on Housing Counseling - MarketWatch (press release)
CredAbility Supports HUD Studies on Housing Counseling MarketWatch (press release) The foreclosure counseling study reveals that with a counselor's help, nearly 70 percent of those counseled obtained a mortgage remedy to retain their home, and 56 percent cured their defaults and became current on their mortgages. |
BofA Repurchases $330M from Freddie; Delinquencies Down, Sales... - Mortgage News Daily
BofA Repurchases $330M from Freddie; Delinquencies Down, Sales... Mortgage News Daily Jay Brinkmann, MBA's Chief Economist and SVP of Research and Education said that the combined percentage of loans in foreclosure or at least one payment past due was roughly 11%, a drop from last quarter and from last year's first quarter. |
Foreclosed Americans buying homes again thanks to government loans - Financial Post
 Financial Post | Foreclosed Americans buying homes again thanks to government loans Financial Post But less than two years later, in March, they purchased a US$297000 house outside Phoenix, Arizona, after qualifying for a loan backed by the US government. They joined a small but growing number of Americans who are making a surprisingly quick return ... |
Foreclosed Americans find way back to homeownership - Reuters
 PR Web | Foreclosed Americans find way back to homeownership Reuters But less than two years later, in March, they purchased a $297000 house outside Phoenix, Arizona, after qualifying for a loan backed by the US government. They joined a small but growing number of Americans who are making a surprisingly quick return to ... FHA Streamline Refinance Expert, Steve Hays, Launches New FHA Refinance Website |