Assistance Buying a Home, Guide to Avoiding Foreclosure

Assistance Buying a HomeThinking about buying a home? The home buying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

Assistance buying a home in your state:
Select your state, then Learn About Homeownership to find Homeownership Assistance in your state.

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Guide to Avoiding Foreclosure

A number of programs have been implemented to assist homeowners who are at risk of foreclosure, and otherwise struggling with their monthly mortgage payments. The majority of these programs are administered through the U.S. Treasury Department and HUD.

Distressed homeowners are encouraged to contact their lenders and loan servicers directly to inquire about foreclosure prevention options that are available. If you are experiencing difficulty communicating with your mortgage lender or servicer about your need for mortgage relief, click here for information about organizations that can help contact lenders and servicers on your behalf.

Making Home Affordable - is a critical part of the Obama Administration’s broad strategy to help homeowners avoid foreclosure, stabilize the country’s housing market, and improve the nation’s economy.

Homeowners can lower their monthly mortgage payments and get into more stable loans at today’s low rates. And for those homeowners for whom home ownership is no longer affordable or desirable, the program can provide a way out which avoids foreclosure. Additionally, in an effort to be responsive to the needs of today’s homeowners, there are also options for unemployed homeowners and homeowners who owe more than their homes are worth. Please read the following program summaries to determine which program options may be best suited for your particular circumstances.

The Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD), is working aggressively to halt and reverse the losses represented by foreclosure. Through its National Servicing Center (NSC), FHA offers a number of various loss mitigation programs and informational resources to assist FHA-insured homeowners and home equity conversion mortgage (HECM) borrowers facing financial hardship or unemployment and whose mortgage is either in default or at risk of default.

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