Wednesday, November 02, 2011

How To Get Free Help With Your Mortgage

Web Site For Government Help With Mortgage Payments And How To Avoid Foreclosure

The U.S. Departments of the Treasury and Housing and Urban Development have joined forces to help homeowners with high mortgage payments, and provide tips to avoid home mortgage and foreclosure avoidance scams from private companies.

According to latest statistics many homeowners don't yet know where to turn for relief of high mortgage payments or when facing foreclosure, and many turn to private "foreclosure avoidance" companies scamming home owners.

The government offers many new programs to help the unemployed or underemployed, homeowners struggling with mortgage payments or second mortgage worries, and homeowners trying to avoid mortgage troubles because of fallen home values.

Solutions offered under various programs for first and second mortgages include modifications of mortgage rates, modifications of payments and outstanding balances,  and even $3,000 cash payments for owners wishing to relocate.

The web site is the starting place to obtain information. There are videos and extensive explanations of the many programs available. Most helpful on the main page is a button to click for eligibility, which leads to a short questionnaire to guide the homeowner to several mortgage programs they might quaility for, depending on income, assets, and present situation with mortgage payments.

HUD offers free telephone counseling help as well: 1-888-995-HOPE (4673)

HUD warns consumers to avoid mortgage scams and offers this advice:

Tips to Avoid Scams
Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan. Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes.

Beware of people who pressure you to sign papers immediately, or who try to convince you that they can “save” your home if you sign or transfer over the deed to your house.
Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
Never make a mortgage payment to anyone other than your mortgage company without their approval.

Links to Department of Treasury/Housing & Urban Development site:
Eligibility Questionnaire
Beware of Mortgage Foreclosure Scams

Homeowners Struggling
With Mortgage Payments

Homeowners Trying to
Avoid Mortgage Troubles

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