Are you one of the millions of homeowners who are currently dealing with foreclosure? Are you seeking foreclosure assistance? While it can seem overwhelming now, fortunately, it may be comforting to know that there is professional assistance that is available to you. You may be surprised to discover what your options are.
If you are facing foreclosure, you need to do start by taking a close look at your financial situation. How far behind are you on your mortgage? What caused you to get in this situation? What are your chances of recovering financially? If you don’t know where to begin, then you probably need some financial counseling to help you get back on track. If you do understand what got you into this situation, what can you do?
Of course, getting current with the payments on your mortgage is one of the best ways to prevent foreclosure. But that is typically not an option for most people. If you can make a partial payment, talk to your bank or mortgage lender. If you can, make an appointment to see someone in person. If this isn’t possible, try to arrange for a specific time for a phone conference with someone who can help. Your goal is to determine what they are willing to accept as a forbearance agreement and/or what, if any, alternative mortgage payment plans can be made. Often they’re willing to help you, especially if they’re a locally owned bank, but some aren’t willing to help at all.
If you can’t get help from the mortgage holder, your next step should be to contact the United States Department of Housing and Urban Development (HUD). HUD is the place to start when your looking for help with mortgage payments or to avoid foreclosure altogether. Their job is to point you in the right direction for the help you need. Every state has specially trained housing counselors that are know and understand the laws, rules, and restrictions related to foreclosure in their state. This foreclosure counseling is normally offered for a low fee or even free of charge. Because of the number of foreclosure scams, it is suggested that you only deal with a HUD approved housing counselor.
In some situations legal representation by a foreclosure attorney is recommended. If you’re keeping up your end of a forbearance agreement or loan modification but are still facing foreclosure, you need legal representation. The United States Department of Housing and Urban Development (HUD) can get you in touch with with affordable or perhaps even pro bono real estate lawyers in your area that specialize in foreclosures.
There are many places where you can find foreclosure assistance so make sure you take advantage of them if you need to do so.