Saving Your Home From Foreclosure

How do I save my home from foreclosure? That's a huge question on alot of people's minds. Everyone heard the Obama administration say that they would be helping homeowners stay in their homes, but what resource is actually available to help? I'm happy to report I have that info to share with you:

The Making Home Affordable Program is part of the President's broad, comprehensive strategy to get the economy back on track. The plan will help up to 7 to 9 million families restructure or refinance their mortgages to avoid foreclosure. The plan can help responsible homeowners who are at risk of default or are facing foreclosure. For more information about this awesome program, visit www.makinghomeaffordable.gov.

Another fantastic resource that I've recently learned about is HopeNow, a private sector alliance of mortgage servicers, counselors and non-profits who want to assist homeowners who could potentially retain the ownership of their home. The program launched in late 2008 and was substantially modified in May of 2009. For more information on HopeNow, visit www.hopenow.com.

If you feel like you're in too deep and would like to try to sell you home BEFORE it goes to foreclosure, give me a call. That process is called a short sale and typically your lender will end up paying the majority of your closing fees, commissions and other fees generally associated with selling your home. The process can be long and there are lots of steps, but we can walk through it together.

Many Blessings in saving your home from foreclosure,

Sajata