The federal government has provided great amounts of money to assist people in America with their mortgages to stop foreclosure from occurring and as a result there are many foreclosure help and government programs available to homeowners. When a homeowner is behind on their mortgage payments they often have limited resources to find out more about available foreclosure help and if they have not previously tried to contact the lending institutions they may end up in even more trouble. A good place to start is to check with your local branch of the FHA to see if there are any government programs or assistance programs available in your area. One way you can get information on what is available to you and how you can qualify for it is by signing up through a housing counseling service that will work with you and your lender to find out more about your situation. The main goal of this service is to get you out of your financial hardships and back on track financially.
Many times there are several different options that a homeowner can choose from when they are facing foreclosure. You could look into an approved state foreclosure counseling program. Your state housing finance agency, which is run by the Department of Housing and Urban Development, offers this type of help to families that are facing foreclosure. The state housing finance agency is also able to provide free foreclosure counseling to families in need of this type of advice. If you are interested in this type of counseling, you can go online to find out more about your state housing finance agency or call your local office to see if they have any foreclosure help programs that you can use.
Another thing that your local housing finance agency can do for you is to refer you to a local state agency that may be able to offer some kind of foreclosure help. In some cases these state local agencies are able to negotiate with your mortgage company for a reasonable payment plan that will allow you to stay in your home while making your mortgage payments. These state local agencies may also offer credit counseling services to help those homeowners that are having a hard time making their mortgage payments. In some cases there are free programs that are offered by your state on local housing finance agency and the Department of Housing and Urban Development that can help people who are having trouble making their mortgage payments. So, you may want to look into all of your options before you contact your mortgage company for advice on a payment plan to stop foreclosure on your home.
by Alexa Hoffman on 2021-01-21 09:04:38