Skip to Content

At risk of home foreclosure ? Get the right kind of help.

Posted In:  debt reduction  mortgage

imagebrowser image Unfortunately, foreclosures are continuing to plague the market. Today, home of borrowers who had secure, fixed rate 30-year mortgages are even in danger because of job loss and rising expenses. If you are having debt problems, and are at risk of home foreclosure, turn to the right kind of help. Unfortunately, there are a lot of places out there claiming they want to help you that aren't sincere.


What many "foreclosure rescue" professionals are really after is a bargain basement price on your home. You may see ads presented to look like real news reports saying the government has implemented plans to help you. They use such veiled half truths and sometimes,  outright lies, to sell you on services that promise quick relief. Their main goal is to make a quick buck via the fees or mortgage payments they collect from you, and they may not not pass these fees on to the lender. Even worse, there are some scams, where they can assume ownership of your home by deceiving you.

So, what to do then?  How can you make sure you're getting the right kind of help?


The Government Can Help

It is true that the government has implemented plans to help homowners facing foreclosure, but you don't need any kind of paid professional to access those services. The first step is to find your local HUD (a U.S Government Agency) office. In many cases, it's located right in your town hall in the redevelopment office.


Start with these resources:

  • HUD maintains a list of reputable housing counselers that makes the process of getting help less risky. You can call them at 1-800-569-4287 or see their list at at HUD's website. Another safe option...
  • The Homeownership Preservation Foundation may be able to help. They are endorsed by both the HUD agency and the FDIC. Call them at 1-888-995-4673, or see their web site at
  • The "Hope Now" alliance is an alliance between financial counselors, mortgage companies, investors, and others with finanacial interest in the mortgage market. These members work together knowing that helping people stay in their homes is the best way to protect the industry as a whole. 


Never pay money upfront to anyone who claims to be able to prevent foreclosure on your home. Always speak to a qualified organization first. These organizations will give you sound advice on where to turn for the right help.




Related Tips

Bill Consolidation: A DIY Guide Taking on bill consolidation by yourself? You've likely seen the ads for companies that offer to consolidate all of your monthly payments into one payment with an overall lower interest rate and payment amount...
Strategic Foreclosures - The Dark Side of American Independence Driving along the waterfront in my hometown Plymouth yesterday, I noticed something odd...
Do You Know What Kind of Debt You Have? While people think about the bills they pay each month and begin to wonder how they will continue meeting their monthly obligations, some will consider filing bankruptcy in order to get a fresh start financially...
The Truth about These Common Mortgage Myths Know your mortgage facts so you can make smarter financial decisions...