government help

Government Help to Stop Foreclosure

The recent housing crisis has left many families facing the possibility of foreclosure. In April, 2008 it was estimated that one out of every 194 U.S. households had received a foreclosure filing. with this many families dealing with foreclosure, there are many people asking the question of whether or not there is some type of government help available to stop foreclosure.

While congress debates on what to do about this issue, there are already several government agencies that may be of help to distressed homeowners.

HUD (The Department of Housing and Urban Development)

HUD provides education and referral resources for homeowners. HUD offers sliding scale counseling and may be helpful when it's time to negotiate with your lender. HUD can also educate you on your options and may be able to provide assistance if you think that your lender is not acting in good faith. They also maintain current resources and a list of programs that provide relief to homeowners.

HUD's website can be visited at http://www.hud.gov for more information.

FEMA (Federal Emergency Management Agency)

If you have been the victim of a natural disaster such as a flood or storm related disaster, FEMA may be able to provide you with assistance if your financial problems are related to your losses. While this situation does not apply to the majority of homeowners, not everyone who qualifies knows that this help is available.

Federal Housing Administration (FHA)

The FHASecure Program is an existing government program designed to assist troubled homeowners who have fallen behind on payments due to adjustable rate mortgages and interest only loans. This program assists homeowners in refinancing their ARM's to fixed rate mortgages. The FHASecure program operates with the help of mortgage lenders who provide new loans to homeowners.

This program is not for everyone. Families with fixed rate loans already are not eligible and everyone still has to qualify for these new loans. What this means is that you should have decent credit and some equity in your home already for the FHASecure program to be of much help to you.

What Other Options Are There?

Aside from government programs, there are ways that homeowners can receive help directly from their lender. This is the most common and ultimately the best solution for many folks. By discussing your problems with your lender's loss mitigation department, you may be surprised to find that many lenders will negotiate with you to help bring your loan current and with payments you can afford.

Early action is the key to success when it comes to avoiding foreclosure. As soon as you fall behind, pick up the phone and open lines of communication. If you are proactive, there are a variety of private resolutions that can be explored between you and your lender. Ultimately, your lender does not want to foreclosure on your home any more than you want them to and they can be quite helpful in negotiating a mutually agreeable resolution.

For more resources and information on how to stop foreclosure, visit Foreclosure Help. Learn how you can stop a foreclosure in as little as 20 minutes - Click Here.

Comments

 

  1. !Need Help ASAP!
    Shawnna wrote on 2009-12-17

    I'm single mother of 3, we are in bad shape, i'm 5 1/2 months behind on rent and my car is on the repoe list. i could really use some help i've been everywhere trying to find help but all i get is no. no job, no money to pay bills or even buy the needs or wants for my children. i'm about to lose everything i own and have roof over my babies heads, my kids ages are 5 yr old boy, 1 1/2 year old girl and a 6 month boy. so please help us or point us in the right direction, please

  2. hepl to pay this December rent.
    Deborreh Williams wrote on 2009-12-17

    To whom it may concern: I need help this month in December to pay my rent.I was laid off my job last year and my rent is $300.00 dollars.I have been seeking employment, but because I was not on this last job 90 days,I cannot receive umployment benfits.That is the job that I got laid off last year.

  3. Rent Assistance
    Monica V. wrote on 2009-12-17

    I need assistance to pay my January rent, I have applied for two jobs and have been told they will start hiring the first of the year, but until then I need help with my rent. Any assistance you can offer will be deeply appreciated.

  4. housing, transportation and job.
    Elena Izaguirre wrote on 2009-12-16

    PLEASE HELP!!!! My name is Elena and My husband of 6 yrs. And 6 year old son, 3 year old daughter and 2 year old daughter are truly In need of help. Any Help If you could give my husband a job or point us in a direction that would help us to bring in income so that we can pay rent on our apartment and pay utilities. I would be very grateful! There are No Christmas presents in sight for my children! Any parent can understand me where Im coming from into the depths of being a bad parent not being able to provide for such sweet and loving kids! They do not understand why mommy and daddy can't buy them the things they want or need. We moved to Illinois from Colorado and can not seem to get a job. we have been homeless living from house to house (family) with our three children. It is very inconvenient and unfair to the other family members and our children. We use to live in a low income housing townhome in Colorado. We are trying to get on our feet and provide for our family but we need help finding the resources for a job and housing. We have been going to temporary agencies, online job opportunities. My husband is experienced in Construction interior/ exterior, Forklift, warehouse. I am experienced in Inventory, Quality Control, Retail and Restaurant. PLEASE, if anyone can help us in any way we will truly appreciate it. We need all the help we can get to be the providers of the family again. PLEASE, HELP OUR FAMILY, PLEASE. Happy Holidays!!!!!!!!!!

  5. Help us!!
    Sara Miller wrote on 2009-12-16

    I have 3 kids and I am unemployed. My boyfriend is also unemployed. We have looked for work and have had many interviews but still no calls for work. Our youngest is a month old and we are about to be evicted and our electric is about to be shut off. I don't know what else to do. Please help us keep our home warm for our babies!!

  6. help!
    murdock wrote on 2009-12-16

    I have been homeless for six long months with a 4year old and one on the way. We need a place to call our own. Our beds to sleep in at night. Our stuff may be lost forever due to no income to pay storage. My family has been a great help, but are running out of funds. My children deserve so much more.

  7. home loan modifications
    penny sullivan wrote on 2009-12-16

    need information on HARP thank you

  8. Financial assistance, food, transportation
    Kenneth J. Brown wrote on 2009-12-15

    just got out of prison, no job, no money, on electronic monitor, need clothes, and medication, and medical

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