Foreclosure Resources

Facing foreclosure can be overwhelming, but help may be just a phone call or a few clicks away. If you cannot make your mortgage payments, speaking with a housing counselor or other professional may help you determine what the consequences are and what your options may be. Other resources include local community programs, information online, or your can give us a call. Some of the available Foreclosure Prevention Resources are as follows:

HUD- Approved Counselors:

The U.S. Department of Housing and Urban Development (HUD) sponsors housing counselors who can talk to you about your situation and help you decided what to do. HUD-approved housing counselors are prohibited from charging you a fee for foreclosure prevention counseling services. For the list, call HUD's interactive voice system at (800) 569-4287 or go to the HUD Website to find a counselor near you.

HOPE NOW

HOPE NOW is a cooperative effort by mortgage counselors, lenders, and others to help homeowners avoid foreclosure. HOPE NOW has a Homeowner's HOPE Hotline that provides foreclosure counseling free of charge at (888) 995-HOPE (4673) or go to the HOPE NOW website for more information.

NeighborWorks America

This is a nonprofit organization that administers housing counseling agencies funded through the National Foreclosure Mitigation Counsel Program. For its list of foreclosure counseling agencies, call (202) 220-2300 or go to the NeighborWorks America Website for more information.

Making Home Affordable

The Making Home Affordable Program provides government-subsidized refinances and loan modifications for homeowners in distress. Under the Making Home Affordable Refinance, eligible borrowers of loans backed by Fannie Mae or Freddie Mac can take advantage of historically low interest rates up to 125 percent of current market value. Under the Home Affordable Modification, eligible borrowers can obtain more affordable mortgage payments by modifying their existing loans. Go to Making Home Affordable website for more information. You can also go the Fannie Mae website or the Freddie Mac website to see if your loan is backed by either of these government sponsored enterprises (GSE's).

Know Your Options by Fannie Mae

If you are facing financial difficulties - whether they are short or long term - start exploring your options today. Even if you haven't yet missed a mortgage payment, but are worried you might fall behind soon, now's the time to take action. You may be eligible to refinance or modify your mortgage loan, lowering your payment and making it more affordable. Or, if you've missed payments and find yourself buried under late fees and past-due amounts, you may qualify for a temporary (or permanent) solution to help you get your finances back on track and avoid foreclosure. Take a look at the Know Your Options website for lots of helpful information. Also, if you are an active duty service member make sure you check out your options as well.

If you have any questions about Real Estate please contact us at 707-297-6580.