Foreclosure is an amazingly stressful and confusing time for homeowners who have the misfortune to encounter it. It can be very difficult to make important decisions that you need to be focusing on at this time. This is why many families facing foreclosure look for help to stop foreclosure. Depending on your preference, there are a variety of ways that you can get assistance with avoiding foreclosure. Lets look at a few popular choices:
Self Help
No matter how you choose to get help to stop your foreclosure, you should be well educated about the process. In order to make the right decisions, learning about the foreclosure process is important. You may find that you are early enough to seek help that you have many options to stop foreclosure.
If this is the case, then there are many good self help resources on how to stop foreclosure yourself. Check the link at the bottom of this article for the three I recommend. Self help for stopping foreclosure usually come in the form of ebooks or physical books. The good ones also include other helpful resources such as forms that you will need, example letters and more.
If you feel confident in handling this situation yourself and you are in the early stages of pre-foreclosure, self help resources can be helpful in stopping foreclosure.
Foreclosure Specialist
If you are confused or not sure about your options, it may be a good idea to consult a foreclosure specialist to get help to stop your foreclosure. A foreclosure specialist is a professional who specializes in helping families keep their homes by avoiding foreclosure. Your consultant can advise you on your options and even help you with the entire process by working with your lenders on your behalf.
choosing a foreclosure prevention specialist is a serious task. While there are many legitimate companies out there who mean to do good, there are a few bad apples in the bunch. Your best bet is to go off of a referral or do your research on the internet and with the BBB. There is one company that I recommend to people who offers free consultations. You can find there link from the site linked below.
Government Programs
In light of the recent foreclosure crisis, the US government has established new programs designed to help families stop foreclosure. Some of these may be helpful to you depending on your situation.
HOPE NOW and Project Lifetime are two such government programs. Both are similar in the fact that they seek to modify the loan to make payments affordable again. There are some qualifications for both programs and public response to them has been mixed. Still, in some situations these programs may be appropriate.
As you can see, there are ways to get help to stop foreclosure in many ways. Some solutions are better for some situations than others so consider your situation and don’t be afraid to seek the help you need. When dealing with foreclosure, time is short. The sooner you do something to stop your foreclosure, the more options you will have on the table.