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Government Programs to Help Homeowners Avoid Foreclosure
There are several government programs that are designed to help homeowners who are having trouble making their mortgage payments. The goal of these programs is to avoid foreclosure and to help homeowners to keep their homes. The United States Department of Housing and Urban Development (HUD) has developed several programs in response to the housing crisis of the last few years. In addition, there are [...]
Getting a Loan Modification to Avoid Foreclosure
With the recent economic downturn, many people have found it difficult to continue to make their mortgage payments. While these homeowners may still be working, they may be working fewer hours or have seen overtime pay reduced or eliminated. Others have found their expenses increasing. In some cases, a couple who were both working may find themselves with only one income, and struggling to make ends [...]
Stopping Foreclosure Through Lender Mediation
If you are struggling to meet your expenses, and you have fallen behind in your mortgage payments, one of the first strategies you should try is working with you lender in what is called Lender Mediation. Lender mediation means working with your current lender to develop a payment plan that will allow you to continue to make payments and stop foreclosure. Considering the number of homes being foreclosed [...]
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