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Foreclosure Advice Is Free. Why Pay?

Have you received mailers from loss mitigation providers that promise to help you avoid home foreclosure for just $1,000?

You do not have to deal with them to keep your home. Many government agencies and nonprofit organizations have launched services designed to help you avoid foreclosure for free. You do not even have to leave your house at first. You just visit the web sites of the following organizations to help you decide what to do. And then make the calls.

The first recommended web site is the federal Department of Housing and Urban Development’s site www.hud.gov. The site offers lots of information about foreclosure and programs aimed at helping homeowners like you. It has sections such as Guide to Avoiding Foreclosure, At Your Service, Important Links and HUD news. You can find links to local offices, free housing counselors employed by HUD and other helpful sites.

At the HUD site, you can also read details about the HOPE for Homeowners Program and resources offered by EconomicRecovery.gov program. The site offers contact numbers and has a Spanish language version.

The second site you need to visit is www.naca.com, the web site of the Neighborhood Assistance Corporation of America (NACA). It is a nonprofit community organization and counseling agency certified by HUD. It has been recognized across the U.S. for reducing loan rates to enable distressed homeowners to make their monthly payments. Best of all, NACA’s services are free.

There is one more you need to see: the web site of Hope Now, a nonprofit 501(c)(3) Christian association which was formed by loan servicers, investors, counseling agents and other mortgage professionals that provide foreclosure assistance for free. The site has a free hotline.

The foreclosure crisis has brought about the rise of unscrupulous people taking advantage of homeowners at the most vulnerable time of their lives. So be careful.

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