Foreclosure Help You Can Turn To

Foreclosure Help You Can Turn To

In the past couple of years, the foreclosure rate in the country has skyrocketed to record levels. As a result, millions of families have lost their homes to foreclosure. Such crisis has pushed many organizations into action. These non-profit organizations aim to provide home owners assistance so that they will have sufficient knowledge about their situation. In addition, some of these organizations even act as mediators between lenders and owners in an effort to work out new repayment terms.

If you are among these trouble borrowers, you might want to learn about these different organizations offering foreclosure help.

National Community Reinvestment Coalition -- Launched the National Homeowners Sustainability Fund in order to help distressed families and senior citizens with risky mortgages, high-cost loans and reverse mortgages. They are also behind the Homeowners Emergency Loan Program (HELP Now) proposal, which is designed to encourage foreclosure prevention.

Institute of Foreclosure Legal Assistance -- Provides legal assistance during foreclosure proceedings, loan originations and bankruptcy filings. They are also affiliated with AARP’s Legal Counsel for the Elderly and the California-based Housing and Economic Rights Advocates (HERA).

Mortgage Bankers Association -- Offers a comprehensive Foreclosure Prevention Resource Center.

Soldier and Sailor Civil Relief Act - Provides assistance to sailors and soldiers with mortgage problems so that they could enjoy free legal advice.

Federal Emergency Management Agency – Offers assistance by persuading lenders not to proceed with foreclosure proceedings.

In addition, there are also the more popular organizations that include HopeNow, FHASecure and NeighborWorks.