When facing foreclosure and the possible loss of your home, it can be hard to know where to start looking for help. Fortunately, the government supplies a great deal of information and a long list of resources to help you if you find yourself unable to pay your mortgage. As with any efforts to avoid foreclosure, the sooner you seek help the better the odds are that you will be able to keep your house.
Where to Find Government Help to Stop Foreclosure
The Department of Housing and Urban Development (HUD) supplies a list of organizations and individuals who will help you evaluate your current finances, your current mortgage and any other extenuating circumstances. They can help renegotiate your mortgage with your lender or refinance your home for lower interest rates. They can also provide suggestions about how to restructure your finances in order to keep from facing this situation again. With a list of local and state resources for help with avoiding foreclosure, the HUD website can help almost anyone facing this difficult situation.
Other HUD services can help you refinance your home to lower existing interest rates as well as your monthly payments. Still more resources can help you distinguish legitimate foreclosure help from scans that could lead to your being in worse straits than when you started.
Consultation services offered to consumers through HUD are always free of charge. These consultants will work with you to find people in your area to help with your mortgage, as well as helping you take appropriate measures if you feel your lender is not treating you fairly or refuses to enter into negotiations. They can also guide you through the redemption period in your state if your house has been sold at auction but you are able to meet the requirements to restore your ownership. If, in the end, you are unable to avoid foreclosure, HUD will also help you relocate, providing referrals for local rental properties. In short, government help to stop foreclosure can assist you through every stage of the process.