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Top 10 Ways To Get Foreclosure Help

Foreclosures
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A foreclosure can be a traumatic experience, causing you to lose your home and face damaged credit. If you are going through foreclosure, fortunately you do not have to go through it alone. Read on for the top 10 ways to get foreclosure help.

  1. Talk to your lender: Your lender may be the best source of help you can find. They don't want to foreclose either and may be able to give you information about refinancing or arranging a short sale
  2. Talk to a credit counselor: A credit counselor can help you get your non-mortgage debt under control and can help you talk to your mortgage lender about your options.
  3. Talk to a foreclosure attorney: A foreclosure attorney can provide you with information on your legal options to stop or delay the foreclosure process
  4. Talk to a bankruptcy lawyer: You may be able to save your home from foreclosure through declaring Chapter 13 bankruptcy, or keep your home during a Chapter 7 bankruptcy. A bankruptcy law can help you determine if there is a way that bankruptcy may help.
  5. Find a foreclosure avoidance counselor: HUD approved housing counselors are available in every state who are willing to help. You can find a counselor in your state through the link on the Department of Housing and Urban Development web page.
  6. Find state agencies who can help: Individual states may have programs and counselors available to help homeowners. HUD also has state-specific information available online on these programs here.
  7. Contact a government agency such as HOPE NOW: Hope Now provides information on speaking to your lender and on refinancing or structuring your loan. They also have a hot-line and counselors who can help you through the process of talking to your lender or exploring other foreclosure alternatives. Their website is available here.
  8. Check with HUD: In addition to the resources mentioned here, HUD may also be able to provide you with other types of help, including information on HUD sponsored loans and help from HUD counselors. You can find information online from their website, or from the local office in your area.
  9. Consult with a real estate agent: A real estate agent may be able to help you arrange a short sale or otherwise give you advice on how you can sell your home in order to avoid foreclosure. Some real estate agents even specialize in foreclosure and distress sales and may be able to provide you with the assistance you need to find a buyer before your bank forecloses.
  10. Explore the Hope for Homeowners Program: The Hope for Homeowners Program was created by Congress to provide restructured loans for home buyers who can't pay their bills. They may be able to help you keep your house and reduce your payments to a level you can afford.

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