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Foreclosure Help Center Article
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Help Stop Foreclosure
from:There are many companies that offer to help stop foreclosure. Most are legitimate companies that are able to help the foreclosure process. There are others that are looking to prey on you when you are weak and desperate. It is important that you properly research any company that you consider working with to help stop foreclosure. There are also many free resources that are available. The internet is a great place to access this information. Make sure that you do your homework before allowing anyone to help.
The best place to start is to communicate with your lender. They are in a unique position to help you. They have quite a bit at stake if your property goes into foreclosure. It is estimated that lenders lose between fifty to sixty thousand dollars every time a property is foreclosed on. They are in the business of lending money, not owning or selling houses. There are also laws that prevent lenders from making a profit on foreclosed properties. They tend to be motivated to help stop foreclosure. It is important to never ignore any communication that your lender sends you. There are programs that are available when you are only 1-2 payments behind that are not available the further behind you get. The initial letters will provide valuable information to help stop foreclosure.
The US Department of Housing and Urban Development (HUD) is a great resource when finding help stopping foreclosure. Their web site offers many tips that you can do on your own that may be enough to help stop foreclosure. The web site also offers information to contact HUD counselors that are trained to help stop foreclosure. These counselors either provide their assistance free of charge or for a minimal fee. Some other companies will charge fees as high as 2-3 times you current mortgage payment, so HUD counselors are a valuable place to start.
If you do end up working with a company that can help stop foreclosure, make sure you research them extensively. Check the Better Business Bureau in your area to see if they have any grievances against them. Never agree to sign something that you don’t agree with or understand. It is not uncommon to find others that claim to help stop foreclosure, but are only looking to take advantage of your situation. Be leery of those that claim to be able to solve your problems by signing a few papers. You may be signing away ownership of your home. Also be weary of those that offer the counsel to stop paying your mortgage. They do not have your best interest at heart.
Foreclosure Help Center Specific links
Foreclosure Help Center News
Free foreclosure help Feb. 18
The state’s Mortgage Relief Project will offer free foreclosure-prevention help during a workshop from 9 a.m. to 1 p.m. Feb. 18 at the Orland Park Civic Center, 14750 S. Ravinia Ave.The event will offer advice on mortgage refinancing, foreclosure prevention, credit counseling and avoiding scams. Homeowners can also obtain one-on-one counseling sessions with housing counselors.For information ...
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Brentwood will be the first stop for a state-run mobile command center staffed with foreclosure counselors. The command center coming Thursday is a 36-foot long van equipped with computers and communications systems normally used to respond to natural disasters. The program is run by the Department of Financial Services and features the foreclosure prevention unit dispatched to [...]
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With the destitute Detroit Science Center facing possible bankruptcy liquidation as soon as late February, a Detroit congressman has spoken with federal bank regulators about finding additional breathing room to allow the now-shuttered museum to raise the emergency cash needed to prevent foreclosure.
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