Welcome to Foreclosure Help Guide
Foreclosure Help Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Help to Prevent Foreclosure
from:If you find yourself caught in a mortgage that you can no longer afford, you may need to find help to prevent foreclosure. The recent subprime mortgage crisis has prompted many local, federal and privately run agencies to develop programs that help to prevent foreclosure. Subprime mortgages are offered to borrowers with a few blemishes on their credit record that can’t qualify for prime rates. Usually offered with a limited time “teaser” rate that is significantly lower than the actual rate, these subprime mortgages cause many borrowers to find themselves with a mortgage that they can’t afford when the teaser period runs out. These are the borrowers that are looking for help to prevent foreclosure. Many times, these borrowers are not told of the actual cost of the mortgage until it is too late, making them victims of predatory lending.
The best place to start your information search for help to prevent foreclosure is your lender. Lenders have a lot at stake when a home goes into foreclosure. Research shows that a lender loses, on average, between fifty to sixty thousand dollars for each foreclosure. They are in the business of lending money, not owning or selling houses. They have many programs set in place to help you when you get behind in your payments. Never ignore communication from your lender. As they are willing to help and have many programs available to do so, most programs are designed to help those that are only 1-2 payments behind. Early intervention may be the difference between keeping your house and foreclosure.
The US Department of Housing and Urban Development (HUD) is the federal agency responsible for offering help to prevent foreclosure. Their web site if full of information, tips and advice to help prevent foreclosure. Because you can customize your search based on location, this web site is the most comprehensive place to find the help you are looking for. They also offer counseling by local HUD approved financial counselors. These counselors are able to evaluate your individual situation and make recommendations on their findings. They also provide local resources, such as county specific help to prevent foreclosure.
It is important when faced with a mortgage that you can no longer afford that you seek help to prevent foreclosure early. As there are many programs that have been developed to assist you, many can only be implemented before you get too far behind. Be sure to conduct thorough research before committing to any one program. Finding the help to prevent foreclosure that will suit your situation is possible, but you must be willing to do the research it takes to find it.
Foreclosure Help News
Foreclosure Help: Dekalb Homes That Didn't Get Foreclosure Help Under ... - OfficialWire (press release)
 OfficialWire (press release) | Foreclosure Help: Dekalb Homes That Didn't Get Foreclosure Help Under ... OfficialWire (press release) Stokes noted that in Georgia, only two other counties have more properties that didn't get any foreclosure help and now threaten to devalue surrounding ... |
Federal Home Loan Bank reps offer foreclosure help - Inland Empire News
Federal Home Loan Bank reps offer foreclosure help Inland Empire News “The foreclosure crisis hit the Inland Empire hard. If you are facing loss of your home, there is hope that won't happen. ... |
Dan River Region foreclosures up from last year - GoDanRiver.com
 Washington Post | Dan River Region foreclosures up from last year GoDanRiver.com With foreclosures on the rise, a local nonprofit is reaching out to homeowners to offer help with foreclosure prevention. Telamon Corp. at 111 Henry St. in ... Foreclosure Hot Spots Improve, but Trouble Seen Ahead Wasatch Front foreclosure picture continues to darken ome Foreclosures Up In Twin Cities And Twin Ports |
Foreclosure Help: TARP Effectiveness Questioned - iNews Connect
 iNews Connect | Foreclosure Help: TARP Effectiveness Questioned iNews Connect The Obama Administration's foreclosure help program, the Troubled Asset Relief Program (TARP), is being questioned by government watchdog groups as well as ... Brown urges banks to help homeowners facing foreclosure Brown Calls on Nation's Largest Banks to Help Responsible Homeowners Avoid ... Foreclosure Program |
Ad Council, US team up to help homeowners pay their mortgages - StarNewsOnline.com (blog)
Ad Council, US team up to help homeowners pay their mortgages StarNewsOnline.com (blog) The program was launched in February 2009 to help homeowners who are at risk of foreclosure through no fault of their own to make their monthly mortgage ... Feds put up $1 billion more for mortgage relief Making Home Affordable Report Home Affordable Foreclosure Alternatives And ... How The Home Affordable Modification Program Is Helping People Keep Their Homes |