Getting Government Foreclosure Help
The United States department of housing and urban development has developed some amazing programs that can help homeowners avoid foreclosure. They have hired foreclosure avoidance counselors to speak to Americans that are living in fear of losing their home.
This government agency has set up state and local resources that can be very helpful to people who are currently unable to pay their mortgage payments. The government has stepped in with billions of dollars in bailout money to help banks with creative programs to stop foreclosures from taking place. Government foreclosure help does exist as long as you are willing to do some research and make some phone calls.
Government Foreclosure Programs and Your Lien Holder
One of the most intelligent things that the government has done is force banks to be more proactive in helping their customers avoid foreclosure. One of the best ways to learn more about programs that exist is to call your bank or lien holder.
Almost every bank has a loss mitigation department that has been created to educate people on what options may be available to them. In most situations banks have many programs at their disposal that the government has helped fund. These programs include mortgage modifications.
These mortgage modifications can reduce the interest rate that exists on the current mortgage, reduce the amount of money owed to the bank on the current mortgage, and options for delaying mortgage payments for a certain period of time. In many instances banks are willing to waive payments for up to six months to help stressed homeowners get back on their feet. These are just a few of the government programs that exist that have been put into place in the past two years.
Speak to a Government Housing Counselor
Foreclosure avoidance counseling can be another great way to find out what programs may be right for you. HUD.gov is a great place to get information and find phone numbers of local government agencies that can supply you with foreclosure help. Speaking with a representative can give you some great ideas at what options you have available.
These government help agencies are there to provide you with all the needed information that can help you stop a foreclosure from taking place. These workers are very well experienced and can be very creative while supplying ideas that can be very beneficial to you. Most of these foreclosure hotlines are open 24 hours a day.
The United States government knows how bad the housing crisis is. They have set up outstanding resources that can be used to help you avoid foreclosure. Use these materials as stepping stones to a better financial situation and future. Being proactive can be the difference between you losing your home and coming up with a way to stay in your house. Government foreclosure help does exist and these programs have been very successful helping Americans stay in their homes.