Seven foreclosure prevention programs that are the best Resources

Are foreclosure prevention programs helping Texans who need it? Many Texans do not apply for these programs created to prevent foreclosure. Some people do not know what kind of help exists. Others do not know what options are available. According to some experts, foreclosure prevention programs may be the best bet for cash-strapped borrowers. You do not need to feel that your only option is to call for a short sale or be forced into holding a foreclosure auction. It is possible for borrowers to explore all their options and choose the best alternative.

The Home Affordability Modification Program or HAMP has helped a million borrowers who have home mortgage loans. The state of Texas has received $135 million in government funds to help these homeowners. These programs help elderly borrowers, like 78-year-old Alice Ramirez, who want to be homeowners. Ramirez fought hard to save her house, and she battled cancer. Would applying to any foreclosure prevention programs have helped this ailing woman? She might have save d her home if she did apply for a HAMP loan. She might not have been able to save her house, if she did not apply for HAMP. A borrower cannot predict the outcome, without checking all his or her options. This is why you cannot give up hope, even if you do not see a solution in sight.

Utilizing foreclosure prevention programs is more cost-efficient than paying for foreclosure

Many foreclosure prevention programs are free to apply; but many Texans do not use them. Why don’t more Texans get involved and utilize these free sources? Some Texans simply do not know about the many foreclosure prevention programs. Some borrowers are not utilizing free resources because they did not know the free help is available or they do not know how to find out how to apply to these programs. They may not have researched all the alternatives. Did you know you have alternatives if you are delinquent on a home mortgage? It is a matter of knowing where to look. There are a number of foreclosure prevention programs and specialists, who will work with borrowers. You must apply for help soon enough. In Texas, the foreclosure process can be over in slightly more than 44 days. Texans do not have long to seek help and should not wait until they get notice of a foreclosure auction. It may be too later if you have received a foreclosure auction notice. These mortgage specialists want to help people save houses, but they cannot help borrowers if he or she does not give them time to work. This is why it is better to give specialists time to help you save your house and apply for assistance as soon as you get a notice you are delinquent on mortgage payments.

Most people may not realize the average foreclosure costs $77,930; the cost to prevent a foreclosure is much cheaper. It costs $3,300. It costs far less to prevent foreclosure than to have to experience the ugly aftermath.

Some mortgage loan holders would rather host a foreclosure auction than help borrowers take advantage of free foreclosure prevention tools. Banks make money off a foreclosure auction. They do not make money from borrowers using foreclosure prevention programs. Are you in danger of missing a mortgage payment? If a borrower has missed a few mortgage payments, there are a number of alternatives to help borrowers pay for their houses. Here are some programs that may help you in your bid to save your home.

  • HAP – This is a program for military personnel, their families, and war vets. It gives current and past military personnel options when it comes to paying for their mortgage loan. Several banks offer borrowers solutions and help them resolve their problems. You can call 800-861-8144 to learn more.
  • Bank Assistance – Financial institutions have foreclosure prevention programs, which borrowers can use. Some banks offer a foreclosure moratorium. It is designed to help borrowers improve their financial situation. Having a bank’s assistance affords you time to get enough funds together. Do you owe much on a mortgage loan? Banks offer free credit and mortgage delinquency counseling. Those who have had delinquency counseling are more likely to apply for a home modification loan. Borrowers may want to ask their banks about the loan modification programs and mortgage forbearance help, too. Call your bank for a list of what programs offered; they may tell you how you can apply and if you qualify for assistance.
  • Catholic Charities – This organization has branches that offer foreclosure prevention programs to borrowers. It can help with housing issues, mortgage delinquency, and general housing assistance issues. It teaches borrowers in Texas how to wiser with finances .These Catholic charities offer credit counselling and teaches house buyers how to repair their bad credit score. If you need help, you can visit this website,
  • Community Action Agencies – These organizations in Texas help borrowers prevent or stop foreclosure. What if you need a monetary grant to save your house? These agencies can help you find the funds to save your Texas home. They provide cash grants or mediation services, counseling, referrals, and guidance, too. They can help you find foreclosure prevention programs. To find the telephone numbers for help in your area, visit:
  • NIDHousing Counseling Agency – This agency helps borrowers who have defaulted on loans and who may face foreclosure auctions. Potential borrowers should not turn down free help. Counseling is offered if you need advice on predatory lenders or credit repair. Those who have been unfortunate to face a foreclosure can tell you recovering is a process. Specialists who have experience in foreclosure proceedings can help you save your home; it is free to use our services. You can find out more about counseling services that may be considered foreclosure prevention, call 1-877-964-3422.
  • Home Affordability Unemployment Program – Unemployed mortgage loan holders may want to take advantage of this government program. By using this program, a borrower can lower their mortgage payments for a period of up to six months. This funded program gives a person time to find a job, if they quit a job. It is a lifeline for those who are unemployed and it can be a good foreclosure prevention resource.
  • Union Plus – Union and organized labor workers can get loan assistance if they need it for a short or long time. Union or labor workers can get cash to pay a mortgage loan. For more assistance, call 1-800-472-2005.

It is possible to get the help you need, if you know where to find free resources. Do you need access to other resources to save your Texas home? There are more than 900 legal firms offering free foreclosure counseling. All you need to know is whom you should ask for help. Here at Save My Texas Home, we can help you find resources at no cost to you. There are free programs available to home borrowers. Our trained specialists can help you explore your options and help you save your Texas home. We work with a number of organizations and our services are free. We can help you avoid foreclosure or need a guide. Call us at 512-271-5044 to see how we can help you, too!

Leave a Reply

Your email address will not be published. Required fields are marked *