Heart-to-Heart Connection

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Stop Foreclosure — 10 Ways to Save Your Home

Options and solutions exist!  You don’t have to lose your home!

U.S. Department of Housing and Urban Development (HUD), formed in 1965 after the passing of the Department of Housing and Urban Development Act, is a governmental organization whose stated mission is to “increase homeownership, support community development and increase access to affordable housing free from discrimination.”

HUD suggests 10 tips and strategies for avoiding foreclosure:

  1. Don’t ignore the problem
  2. Contact your lender ASAP
  3. Open and respond to all mail from your lender
  4. Know your mortgage rights
  5. Understand foreclosure prevention options
  6. Contact a HUD-approved housing counselor
  7. Prioritize spending
  8. Use your assets
  9. Avoid foreclosure prevention companies — they will charge a hefty fee (two to three months mortgage payment) for information and services your lender or HUD-approved housing counselor will provide for free.
  10. Don’t lose your house to predatory lenders and foreclosure recovery scams

 

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February 24, 2009 - Posted by | Business, Education, Finance, Mind, Money, Stress, Success | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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