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In an attempt to resolve the home mortgage foreclosure crisis, six major home loan lenders are offering to freeze foreclosures Project Lifeline, announced today February 12, 2008, would temporarily stop foreclosure proceedings on homeowners who have fallen seriously behind in their house payments. Continue reading Will Foreclosure Freeze Help You Save Your Home  You have fallen behind on your mortgage payments, and the lender has sent you notices to try and collect the late payments and threatening foreclosure. What can you do to stop foreclosure on your home? When facing foreclosure, many panic and give up, thinking that there are no other options to stop foreclosure and save their home. Well, here are some actions that can be taken to try and stop the foreclosure of your home! Before any action, get your financial house in order. Calculate your income and expenses and determine what is really coming in and what is really being paid out monthly. If it is too much to do your own financial analysis, look for a nonprofit counselor that would probably do it free of charge and may also help negotiate with the lender. The U.S. Department of Housing and Urban Development, HUD, sponsors housing counseling agencies. Click here to find a list of HUD Housing Counseling agencies in your state. Next, contact your lender and be sure to have an idea what you need from them, like some of the actions below. Continue reading Tips On Stopping Foreclosure |
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for thirty days. Project Lifeline is the latest response to ever-growing foreclosure rates by “Hope Now”, a government program formed to get a handle on the worst housing debacle in decades. Hope Now consists of a coalition of lenders, investors and non-profit groups that was created in October 2007, to work with the Bush Administration to try and get handle on the sky-rocketing rates of default filings and foreclosures.
