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Mortgage Foreclosure Help Article
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Mortgage Foreclosure Help
from:If you are facing possible foreclosure, there is mortgage foreclosure help available. Many lenders will offer assistance programs when you begin to miss your mortgage payments. It is a common misconception that lenders are just waiting to foreclose on your loan. This is not true. Lenders are as motivated as you are when trying to avoid foreclosure. These companies are in the business of offering loans and mortgages, not owning or selling houses. It is estimated that a lender will lose between fifty to sixty thousand dollars for each foreclosure. They are then faced with the challenge of selling the house. There are also laws in place that prevent lenders from making a profit on the sale of foreclosures. Be sure to contact your lender at the beginning of your search for mortgage foreclosure help.
Another great resource that offers mortgage foreclosure help is the HUD (US Department of Housing and Urban Development) web site. Listed there are tips and suggestions that you can do yourself to help avoid foreclosure. They also have HUD foreclosure counselors that will give assistance for free. This is a great resource that is also budget friendly. They will offer solutions and will be able to give you additional resources that can offer mortgage foreclosure help.
There are many companies that advertise mortgage foreclosure help on the internet. Also, when the foreclosure process is begun, your information is made public, so you will probably be inundated with contact from some of these companies. Great caution must be used when dealing with these companies. While some are legitimate, many others fall into a predatory lending category. Many will charge high fees (sometimes as much as 2-3 times your monthly mortgage payment) and offer much of the information that you could access yourself for free. Be leery of signing anything that a company says will take care of your problem. Many times, these companies will try to persuade you to sign your deed over to them to avoid foreclosure. In this case, they now own your house and you rent it from them. You get to stay in your house, but they now can force you out with little to no notice. Although some of these companies offering mortgage foreclosure help are legit, there is an equal number that are to be avoided.
When facing foreclosure and looking for mortgage foreclosure help, be sure to make wise, informed decisions. Make sure that you do the necessary research before settling on any one company or program offering mortgage foreclosure help. There is help available, but there are also many people looking to take advantage of your current situation.
Mortgage Foreclosure Help News
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. GreenPath Debt Solutions Takes Part In Government Housing Counseling Study BRIEF: Projects BRAVO's Mortgage Counseling Services to Be Expanded |
Foreclosure Prevention Event to be Held Thursday in Milwaukee - LoanSafe
Foreclosure Prevention Event to be Held Thursday in Milwaukee LoanSafe (Source: Paul Gores Milwaukee Journal Sentinel (MCT) — A group of mortgage lenders and nonprofit housing organizations will hold a free foreclosure prevention event in Milwaukee on Thursday. Troubled homeowners seeking assistance to help them avoid ... |
Lawmakers Gave Millions from Mortgage Settlement to Local Governments - LoanSafe
 ProPublica | Lawmakers Gave Millions from Mortgage Settlement to Local Governments LoanSafe (MCT) — Virginia lawmakers in March diverted most of a multimillion-dollar mortgage settlement payment to local governments. Virginia received $66.5 million as part of a national $25 billion settlement with five large banks for foreclosure fraud. Malloy, AG announce allocation of mortgage foreclosure settlement funds Deo Buddhu Accused Of Mortgage Scam Promising False Federal Aid Foreclosure Prevention Program Gets Major Share Of State's Funds From Settlement |
Florida grabs a $33.4 million chunk of foreclosure settlement money for state ... - Bradenton Herald
Florida grabs a $33.4 million chunk of foreclosure settlement money for state ... Bradenton Herald By HERALD/TIMES TALLAHASSEE BUREAU Out of $334 million in cash payments sent to Florida in a multi-billion dollar mortgage settlement with major banks, about $33.4 million will go to help bolster the state's budget. Florida is one of several states ... Florida sends $33.4 million in foreclosure settlement money to general revenue |
Carolina Real Estate Professionals Helping Local Homeowners Avoid Foreclosure ... - PR Web (press release)
 PR Web (press release) | Carolina Real Estate Professionals Helping Local Homeowners Avoid Foreclosure ... PR Web (press release) Certified Distressed Property Designation course, from Charfen Institute, provides agents with tools, processes and education to help distressed homeowners in the Carolinas find alternatives to unmanageable mortgage debt. Many people have been advised ... |