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Dial Help for Arizona Foreclosures

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By : Leticia Carvalho    99 or more times read
A little good news for troubled homeowners in Arizona. The Arizona Department of Housing has opened its hotlines to all homeowners facing or concerned with housing problems. The project, called the Arizona Foreclosure Helpline, will provide residents with free consultation services.

As with the rest of the country, Arizona foreclosure properties figures have been increasing. In fact, Arizona has a projected 1 in 4 homeowners who will be affected by foreclosures. As of mid-November, almost 80,000 residents have already called the hotline seeking help.

For expert guidance regarding Arizona foreclosures, any resident may call 1-800-448-1211.

A homeowner who has mortgage trouble may also follow these tips:

  • Act on problems promptly. Contact the lender and discuss possible options as soon as possible.

  • Keep in touch with the lender. The first notices will help one explore options for foreclosure prevention while the latter ones may already give notices of pending legal action. Failing to open communication with lenders will not be justifiable in court.

  • Know a homeowner’s mortgage rights. Keep loan documents and be familiar with the legalities, especially in conditions where payments cannot be made.

  • Cut spending on unimportant things. Optional expenses like memberships and entertainment may be removed until the mortgage is paid.

  • Take advantage of assets. Selling a second car or having a family member get a job demonstrates a willingness to deal with the problem.

  • Use free HUD-approved services for help. You may also contact your lender for options, but avoid foreclosure prevention companies as these charge huge fees for services which you may get at no cost.

  • Get advice from a lawyer before signing documents. A firm may claim to be able to stop a housing problem, but these may all be a ruse to make a homeowner a renter or in worst-case scenarios, homeless.

Following simple tips and calling the free helpline will go a long way in dealing with foreclosure problems.
Leticia Carvalho has been educated in the finer points of the foreclosure market over 5 years.

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