Facing foreclosure is scary enough, but having to pay large fees to get help avoiding it is even worse. Many people don’t realize that there are many resources available to help develop a plan to avoid foreclosure at no cost to them. There is no need to hire a foreclosure prevention company to handle your case, you can find free help on your own.
One of the most beneficial and underutilized resources is the internet. Many people assume that information found on the web is unreliable or difficult to interpret. In fact, there are many government approved websites that offer guidance and advice on how to navigate the foreclosure process and develop a game plan. The federal program Home Affordable Mortgage Plan (HAMP) website can provide information about how to apply for and obtain a mortgage modification. The Housing and Urban Development (HUD) website offers tips on how to spot and avoid scams.
Have you contacted your lender? Many people never consult with their lender directly when they are in need of foreclosure help. Although your lender has the ability to initiate the foreclosure process, most lenders prefer to negotiate a deal without the need for foreclosure. You can negotiate directly with your lender to avoid foreclosure and obtain a solution that satisfies the needs of you both. If you find it difficult to negotiate directly with your lender, consult with a foreclosure attorney. Foreclosure attorneys charge fees for their services, but many offer free consultations to help give you some initial advice and direction.