Foreclosure help and support

2. What is foreclosure?

3. What to do if you are about to face foreclosure.

4. Where to get help and support if you are facing foreclosure.

6. Foreclosures Help and Support http://www.foreclosureshelpandsupport.com Facing Foreclosure Recession is very much part of our lives now and as a result of this, many Americans are facing or have already lost their jobs. This has led not only to an increase in unemployment but has sadly resulted in many people facing foreclosure, as they are unable to make mortgage payments to their mortgage lender. Homeowners failing to make their mortgage payments then devastatingly have difficulties in obtaining further credit in the future. Also, the homeowner’s foreclosure will stay on their credit report for several years thereby damaging their credit rating.

7. Foreclosures Help and Support http://www.foreclosureshelpandsupport.com Stopping Foreclosure It is important to be aware that the foreclosure process actually begins after 90 days of non-payment of your mortgage and there are a number of ways of stopping foreclosure. If you have missed a monthly mortgage payment, it is essential that you get in touch with your mortgage lender immediately so that they are aware of your situation and will be in a position to discuss various options with you such as: 1. Exploring a number of payment plans. 2. Change the terms and conditions of your loan. For example, request to spread out the missed payments over a longer term. 3. Ask your mortgage lender to add the non-payments to your loan balance. 4. Offering the bank to sell your home by taking control of the deed and thereby cancelling the mortgage. If any of the above options are not suitable, then the homeowner may wish to consider the following options to prevent foreclosure: 1. Sell the property at a reasonable price. 2. Agree terms and condition for a short sale with the mortgage lender. 3. Sell your home at an Auction.

8. Foreclosures Help and Support http://www.foreclosureshelpandsupport.com Help and Support If you are Facing Foreclosure There are a number of organizations that are dedicated to providing free legal and financial assistance as well as counselling services to distressed homeowner’s facing foreclosure: 1. MassResources is an organization that provides free information on preventing foreclosures. The organization also provides foreclosure prevention counselling. 2. Federal Government has taken the initiative to help people in foreclosure crisis so that they can keep their homes. The Federal Housing Administration (FHA) programs will offer homeowners not only foreclosure counselling but also assistance in refinancing their existing mortgages and making payments. 3. The Department of Housing and Urban Development (HUD) offers programs for foreclosure prevention counselling and refinancing assistance to ensure that help is given to people to keep their homes.

9. Foreclosures Help and Support http://www.foreclosureshelpandsupport.com 4. Home Ownership Preservation Foundation is non-profit organization helping families that are suffering financial hardship and are at risk of losing their homes. It provides free prevention foreclosure counselling service to homeowners on Homeowner’s HOPE Hotline 24 hours a day. 5. Neighbourhood Assistance Corporation of America (NACA) provides free workshops to homeowners at risk of losing their homes. 6. Legal Advocacy and Resource Center (LARC) provides free legal hotline to families on low-income. Families can get free legal information and advice. 7. MakingHomeAffordable.gov provides information and advice about refinancing under the Home Affordable Refinance Program. 8. MassLegalHelp provides legal help to homeowners facing foreclosures.

10. About the author: Kelly Gale is committed to helping people facing foreclosure. To get more information about foreclosures, visit this site: http://www.foreclosureshelpandsupport.com Foreclosures Help and Support