Foreclosure is a hard fact in the current market and I speak with someone daily about it…a new client, someone looking for information, a seller who has to short sale to avoid it or a buyer who is looking for one thinking it’s the next great deal. It’s a sad thing.
The latest estimate is that 2 in every 10 homes is facing foreclosure. Part of my work is to help home owners avoid foreclosure by facilitating a short sale that will put them on a path to financial recovery. It’s not the only solution though. I want to share some of the free resources that are currently available to home owners who are in financial distress. Feel free to share this with someone you know. It might help them start to get they help they need.
HOPENOW.COM
Research your options with this web form
Find your mortgage lender
Find a foreclosure counselor in your area
Focused on helping homeowners in crisis, this alliance helps you determine your options
FTC.GOV
Find a foreclosure counselor
Raise your own credit score
Fix mistakes on your credit report
The Federal Trade Commission has expert advice
FINDAFORECLOSURECOUNSELOR.ORG
Find a legitimate foreclosure counselor near you
This non-profit organization was created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts
MAKINGHOMEAFFORDABLE.GOV
Making Home Affordable
Making Home Affordable: short sale documents
Making Home Affordable: deed in lieu documents
The official government site for loan modifications and foreclosure alternatives
PORTAL.HUD.GOV
Find resources to avoid foreclosure in your state
Consult state and local resources
MYFICO.COM
Improve You Credit Score
Credit Q&A
Credit Basics
Understand credit and your credit scores
ANNUALCREDITREPORT.COM
See your credit report
Get all the details on late payments and other information, but not your actual credit score
RESPONSIBLELENDING.ORG
The Center for Responsible Lending
A non-profit organization that works to stop predatory lending practices
CREDITEDUCATION.ORG
Volunteer to be a credit counselor
Non-profit agency that works to provide financial literacy
LIVEUNITED.ORG
United Way
Donate or volunteer to decrease the number of families that are financially unstable
NCRC.ORG
Donate to the National Community Reinvestment Coalition
Send a donation to help NCRC “ensure that people in traditionally underserved communities are treated fairly and justly when applying for credit, opening a bank account, getting a mortgage, a loan, or other financial product or service.”
IRS.GOV
The Mortgage Forgiveness Debt Relief Act
Get the details about when you might owe taxes on any debt that is canceled through a short sale or deed in lieu of foreclosure
OCC.GOV
Download a PDF on identifying a loan modification scam
The Office of the Comptroller of the Currency provides detail about scams, including “10 Warning Signs of a Loan Modification Scam.”
If you are not finding the information you need or if you are interested in talking about a short sale to avoid foreclosure – just let me know. I would be happy to discuss the process with you to find out if it’s a good solution for you.
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