Questions on the Foreclosure Process? How to Avoid it, Keep your home, work out your loan. Here are some Handy Internet Sites!
January 17th, 2008 . by Mike KellyMany of you are facing the possibility of foreclosure. Find below links to answer many of your questions with links to articles and tips for homeowners facing financial difficulties.
1. “How To Avoid Foreclosure” by the U.S. Department of Housing and Urban Development (HUD): http://www.hud.gov/offices/adm/hudclips/forms/files/pa426h.pdf Yes, I know these are long but they get you right to the information you need rather than going through the whole site.
2. “Tips for Avoiding Foreclosure” also by HUD: http://www.hud.gov/foreclosure/index.cfm
3. “List of Approved Credit Counseling Agencies” by the U.S. Department of Justice: http://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm
4. “You Can Avoid Foreclosure and Keep Your Home” by FHA : http://www.fha.gov/foreclosure/index.cfm
5. “Mortgage Payments Sending You Reeling? Here’s What to Do” by the federal trade commission: http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea04.shtm
6. “Questions and Answers on Home Foreclosure and Debt Cancellation” by the IRS: http://www.irs.gov/newsroom/article/o,,id=174034,00.html
Good list of resources. Another would be a good website for looking up summaries of foreclosure state laws, which can really help homeowners plan for what happens after foreclosure. They should be aware of the danger of being sued for a deficiency judgment, as well as any redemption period after the sheriff sale. But that’s mostly for the ones who are unable to save their homes some way.