How to Find Home Foreclosure Help

The FDIC has compiled a list of compelling statistics that bring home the depth and breadth of the current foreclosure crisis. Did you know?

• Every three months, 250,000 new families enter into foreclosure.
• One child in every classroom in America is at risk of losing his/her home because their parents are unable to pay their mortgage.
• More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of services that mortgage lenders can offer to individuals having trouble with their mortgage.

This week FindLaw launched a new consumer section on the topic of Foreclosures and Alternatives to help inform consumers about their options and rights, the process, and alternatives available. 
 
Many experts in the mortgage industry want consumers to understand that they may have options and choices in preventing foreclosure if they take action early.  For example, the federal government and large lending institutions are becoming more flexible in renegotiating home loans for those who are current on their mortgage and meet certain criteria. In some cases a qualified professional such as an attorney who specializes in mortgages and foreclosures may be able to help, too. 

Other Helpful Foreclosure Resources
Foreclosure Prevention Resource Center -- Mortgage Bankers Association
Help for Homeowners Facing the Loss of their Home (HUD)
How to Renegotiate a Mortgage -- The Street.com