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Does it seem that everyone is working against you to take your home?
Home Foreclosure Help is here to work with you to help you save your HOME!
It is never to late...
The largest investment most people have is in their home. It is worth fighting to stop home foreclosure. You have worked to hard to have your home taken from you.Generally speaking you are facing a mortgage foreclosure because of circumstances beyond your control.
- Marital problems - separation/divorce
- Loss of one income- in a two income family
- Laid-off
- Cut in hours
- Major illness/death in family
If you have received a property foreclosure notice from your HUD/FHA lender it is never to late to save your home.
There is help...
The fist step to saving your home from a mortgage foreclosure.- Contact your lender
When you are faced with a problem no matter the situation. Inform your lender that you are having money difficulties. It is embarrassing to discuss such issues with others or to even acknowledge you are having financial problems. - Lenders will help you
That is correct...there is help. Foreclosure is expensive! HUD/FHA requires lenders to work with you to bring about a resolution to help you keep your home.
To help you keep your home it is best to contact your lender when your mortgage payment is only one to two payments behind. Most lenders have workout options, but the longer you wait to contact them the options you have are considerably more restrictive.
HUD foreclosure Relief options...
If your property has been damaged by a natural disaster or if you have been called up for active military duty or affected by a national tragedy, such as the terrorist acts of September 11, 2001, there may be additional assistance available.Relief Options for FHA Loans
- If your home was damaged or your income cut because of a hurricane, tornado, flood, wildfire, or other natural or man-made event -- and your home or job is in an area that the President declared a disaster area -- your lender will not start foreclosure for 90 days.
When the President declares a disaster area, HUD, the Federal Emergency Management Agency, and state agencies join together to assist those that have been affected by the disaster. By working with disaster recovery teams, HUD, through the use of special programs, can assist victims in rebuilding safe and healthy housing. - If you or your spouse is on active military duty, you may qualify for a reduction in your interest rate -- and, thereby, reduced payments.
Your ability to make your mortgage payments may be affected if you are in the military or are a reservist called to active duty.*
Information To Have Ready When You Call your lender:
- Your loan account number
- A brief explanation of your circumstances
- Recent income documents (such as Pay stubs; Benefit Statements from Social Security, Disability, Unemployment, Retirement, or Public Assistance. If you are Self-Employed, have your tax returns or a Year-to-date Profit and Loss Statement available for reference)
- List of household expenses
HUD home foreclosure Workout Solutions
Check with your lender to find out which of these options may be available.If Your Problem Is Temporary - Call Your Lender
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Reinstatement: Your lender is always willing to discuss accepting the total amount owed to them in a lump sum by a specific date. They will often combine this option with a Forbearance.
Forbearance: Your lender may allow you to reduce or suspend payments for a short period of time after which another option must be agreed upon to bring your loan current. A forbearance option is often combined with a Reinstatement when you know you will have enough money to bring the account current at a specific time in the future. The money might come from a hiring bonus, investment, insurance settlement, or a tax refund. Repayment Plan: You may be able to get an agreement to resume making your regular monthly payments, in addition to a portion of the past due payments each month until you are caught up. |
If your situation is long-term:
Mortgage Modification: If you can make the payments on your loan, but you do not have enough money to bring your account current or you cannot afford the total amount of your current payment, your lender may be able to change one or more terms of your original loan to make the payments more affordable. Your loan could be permanently changed in one or more of the following ways:
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If Keeping Your Home Is Not An Option -- Call Your Lender
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Sale: If you can no longer afford your home, your lender will usually agree to give you a specific amount of time to find a purchaser and pay off the total amount owed. You will be expected to obtain the services of a real estate professional who can aggressively market the property.
Pre-Foreclosure Sale or Short Payoff: If the property's sales value is not enough to pay the loan in full, your lender may be able to accept less than the full amount owed. This option can also include a period of time to allow your real estate agent to market the property and find a qualified buyer. Monetary help may also be available to pay other lien holders and/or help toward paying a few moving costs. Assumption: A qualified buyer may be allowed to assume your mortgage, even if your original loan documents state that it is non-assumable. Deed-in-lieu: Your lender may agree to allow you to voluntarily "give back" your property and forgive the debt. Although this option sounds like the easiest way out for you, generally, you must attempt to sell the home for its fair market value for at least 90 days before the lender will consider this option. Also, this option may not be available if you have other liens such as judgments of other creditors, second mortgages, and IRS or State Tax liens.* |
HUD Press release
Helping families avoid foreclosure and retain their homesWASHINGTON - The U.S. Department of Housing and Urban Development today announced that it is increasing incentive payments available to lenders who utilize HUD's most powerful loss mitigation options for helping borrowers in default avoid foreclosure and retain their homes.
..."The FHA Loss Mitigation Program delegates to lenders both the authority and responsibility to utilize actions and strategies to assist borrowers in default and reduce losses to FHA's insurance funds."
..."Two of the most effective home retention tools are mortgage modification and partial claim."*
April 29, 2005*
“I was three weeks away from my sale date and battling a bad divorce. I had worked with two other companies that said they could help me but couldn’t. Thanks to the great people at Home Foreclosure Help, I was able to move from an area of past failures to future promises. The Bridges that they build are bridges for life."We can help you too!
Let us show you what separates us from most businesses that promise to "stop foreclosure fast".
We have separated ourselves from the crowd and have a unique "stop foreclosure program"! Let us custom design a stop foreclosure program just for you.
We Deliver, when most just make promises. You can apply right here to speak with one of our Home Foreclosure Help Line analysts about what we offer you in the way of foreclosure help. Why not, we have assisted many families in stopping home foreclosure.
We will show you how to stop foreclosures. Our analyst's are experienced and trained to help preventing foreclosure.
You can apply right here for our foreclosure help. There is no obligation and it is free to apply. We will evaluate your application and have a response for you in 48 hours! (72 hours if on a weekend)
Call us at (800) 275-7420 or fill out our online form and we will have a foreclosure consultant contact you within 48 hours.
Our oath of confidentiality: We promise to protect all information and will not be shared, stored or sold beyond the scope of providing Home Foreclosure Help with your specific problem.
*Information courtesy of U.S. Department of Housing and Urban Development
