If you are facing the possibility of foreclosure there are people out there that are available to help you. No one wants you to enter into foreclosure, including the government. This is why if you are in this situation you should immediately contact a counselor at your local Housing and Urban Development (HUD) office.
These counselors know and understand the mortgage crisis and can help you work with your lender to come up with a good repayment plan. Your counselor will be able to negotiate with the lender and help you construct a workable budget with your current income. When you reduce the amount of your mortgage each month you can use the money you have saved to cover your other expenses. It is a great opportunity to also have additional money to save for your future.
You may qualify for a mortgage modification, a refinance or for some other mortgage reduction program in your area. Many times the government offers assistance programs for these exact situations, but the only way to find out these programs is through direct contact with HUD. You must fight to save your home. Using these resources is your best chance of success.
Remember, HUD counseling is a service provided by the government and should, in most cases, not cost you anything. You can visit their website before calling to see if you qualify for any of their assistance and what they can do for you.
A new mortgage payment combined with a good budget will help you work your way back to financial success. Being in control of your life again you will be able to move past these rough times and conqueror the world.
There comes a time in everyone’s life that they may need to ask for help. Finding your self facing a foreclosure and the possibility that you and your family will be on the streets, is a good enough reason to seek help. This is one of the functions of HUD; to help the citizens with housing problems. Take advantage of this government program and save your home, your credit and your sanity.