Facing Foreclosure? Don't Lose Hope
 | (NewsUSA) - Homeowners struggling to meet their mortgage payments should not wait until they default on a payment before speaking to their lender. Hope and help are available.
Hope Now, a private alliance of mortgage services, non-profit counselors and investors helped 270,000 homeowners keep their homes in April 2009. The organization reaches at-risk borrowers through its Web site, www.hopenow.com and community events, where homeowners can meet their lenders directly, as well as speak to representatives from Fannie Mae, Freddie Mac, the U.S. Department of Housing and Urban Development (HUD) and Legal Aid. Hope Now also operates a telephone hotline, where homeowners can speak to non-profit counselors, at 1-888-995-HOPE. Before calling their lender, homeowners should compile their financial information. Before restructuring a loan, lenders will want to see hard numbers stating income and expenses. Homeowners also need to be savvy -- scammers have found endless ways to profit from the housing crisis. Scammers sift through public foreclosure notices in newspapers or use advertisements to reach desperate homeowners. Then they take mortgage payments, home equity or ownership of the home. To avoid being scammed, Hope Now suggests homeowners be aware of potential "red flags": * The service guarantees to stop foreclosure, no matter what. * The service collects an upfront fee. * The service tells you not to contact your lender, lawyer or credit or housing counselor. * The service only accepts payment by cashier's check or wire transfer. * The service encourages you to lease your home so you can buy it back over time. * The service wants to collect your mortgage payments. * The service tells you to transfer your deed or title to it, or offers to buy your home at a fixed price. * The service offers to fill out paperwork for you, or pressures you to sign paperwork that you have not read or do not understand. To find legitimate help, homeowners need to contact their lender directly or call 1-888-995-HOPE to speak with non-profit counselors. To find out about foreclosure prevention options, read "Mortgage Payments Sending You Reeling? Here's What to Do" at www.ftc.gov. |
More Resources
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting
More Real Estate Information:
- Group 1
- Group 2
- Group 3
- Group 4
- Group 5
- Group 6
- Group 7
- Group 8
- Group 9
- Group 10
- Group 11
- Group 12
- Group 13
- Group 14
- Group 15
- Group 16
- Group 17
- Group 18
- Group 19
- Group 20
- Group 21
- Group 22
- Group 23
- Group 24
- Group 25
- Group 26
- Group 27
- Group 28
- Group 29
- Group 30
- Group 31
- Group 32
- Group 33
- Group 34
- Group 35
- Group 36
- Group 37
- Group 38
- Group 39
- Group 40
- Group 41
- Group 42
- Group 43
- Group 44
- Group 45
- Group 46
- Group 47
- Group 48
- Group 49
- Group 50
- Group 51
- Group 52
- Group 53
- Group 54
- Group 55
- Group 56
- Group 57
- Group 58
- Group 59
- Group 60
- Group 61
- Group 62
- Group 63
- Group 64
- Group 65
Related Articles
How to Qualify For 90% Plus Commercial Financing!!!
There are three important questions that you must understand and answer correctly in order to achieve 90% plus commercial financing! Where to go to locate it? What type of project will qualify? And last, how to negotiate for it?To start, you must understand the lender's mindset?..
Buying property in the Eastern European nation and next to the Adriatic Sea
Quality buying options are commonly available which can be used to the fullest in buying top notch property.
The Art of Selling Property
Have you ever noticed a sales man at a local showroom who convinces you and sells his product with ease? You are often amazed at his salesmanship. Undoubtedly he is skilled and holds a lot of experience in this field.
The Importance Of Good Roofing Installation
It is important to get your roofs installed by a professional to avoid accidents.
Beat the Crowd when Investing in Real Estate
Investing in Real Estate - We all are thinking about it and some of us are actually taking action and getting their hands on real estate investment properties. The longer the NY Stock Exchanges doesn't produce desirable returns the more people are starting with real estate investments.
Wholesale Real Estate Investing
Wholesale Real Estate Investing: Real Estate Investment Deals That Increase Your Net Worth!
Double Bubble - Real Estate Troubles?
Real Estate Double Bubble - Much has been said about the demise of the great Real Estate bubble. However, little has been said about it's little brother who's growing up fast and strong.
Real Estate Investing -- Motivated Buyer?
A motivated buyer is, first and foremost, a salesman and his product is himself. Creating an emotional connection with the seller will get you through the front door far easier than spouting off a flood of meaningless facts and figures.
Thinking About Selling Your Home?
Owning a home is the original American dream. It's the old frontier spirit, wanting to claim your own tuft of the New World. Then again, these days it also makes perfect economic sense. Experts estimate that all of the homes in the United States alone are worth a combined $14 trillion. That goes a long way to explain why a housing boom has been sweeping the globe.
The Miami Condo Market
This article is an introduction into the miami condo market and miami real estate, the current trends and the "hot areas" at this time in the greater miami area.
7 Simple Steps To Real Estate Investing
The Next Level Institute is dedicated to helping real estate investors - whether a brand new or a seasoned investor - become more successful with less effort.
Flipping Real Estate: Calculating Costs
Don't get taken on your first real estate deal. Learn how to calculate the real numbers when flipping real estate and how to really make money in real estate in any market condition.
Tips for a Successful Open House
You're having the jitters. Your open house is tomorrow. And first impressions count!
How to Really Declutter Your Home for Buyers
Your real estate agent has come to your house to assess what needs to be done to sell it the quickest. The word, "declutter," continues to come up. You assure your agent that you are a very neat person and that everything will be clean when the potential buyers come to view it. Many sellers encounter the same situation each day.
Make High Profits with Tax Certificates!
This article will give you the critical information that you need to ask in order to start you in the right direction on purchashing tax certificates. You can start with a phone call and be on your way to a long term financal security.