Foreclosure Assistance

If you think back to when you first bought your home, losing it was probably the furthest thing from your mind. No one ever actually plan to go into foreclosure. Most homeowners find themselves faces with extenuating circumstances that force them to stop making timely mortgage payments. Here are a few of those reasons:

• Losing a job and/or income
• A death in the family
• Divorce / loss of second income
• Unexpected illness or medical crisis
• Overextended debt obligations
• Unable to pay an adjustable interest rate (ARM) that increases
• Unexpected major home maintenance expense

Understanding Your Mortgage to Avoid Foreclosure

Most homeowners who have lost their homse to a foreclosure will tell you that they were unaware of some very important features of their mortgage before signing the contract. It is imperative, whether buying, refinancing, or you currently own your home, that you have a comprehensive understanding of your mortgage in order to avoid going into foreclosure. To learn more about understanding your mortgage in order to avoid foreclosure, download our white paper on "Understanding Foreclosures" (pdf).

Foreclosure Resources

• www.hud.gov/foreclosure
• www.freddiemac.com/avoidforeclosure
• www.nfcc.org/housing/orderdvd.cfm
• www.fanniemae.com/homeowners/index.html
• www.housinghelpnow.org
• Foreclosure Glossary (pdf)
• HUD Approved Counseling Agencies Consumer Credit Affiliates
• Nevada Legal Services
• NID Housing Counseling Agency
• Washoe County Senior Law Project

Additional Resources