These Tough Times

Without a doubt, foreclosure is one of the hottest topics and biggest worries facing many Americans today.

There is a wealth of information available regarding foreclosure, how to avoid foreclosure and what happens during foreclosure and we at thesetoughtimes.com have the links for you.

Among the basic issues for many seeking information about foreclosure deals with the process, timing and options available to homeowners facing foreclosure. Unfortunately these issues vary greatly from state to state. Fortunately there is an online resource which provides the basic information on a state-by-state basis and that site is the RealtyTrac web site and its Foreclosure Laws section.

HUD has a web page detailing the typical Foreclosure Process and the typical Foreclosure Timeline. These pages explain the most common foreclosure scenarios. These HUD web pages do not provided the state-by-state detail of the previous link but they do go into more detail about the process.

The Federal Trade Commission (FTC) has a page titled Mortgage Payments Sending You Reeling? Here’s What to Do which provides information on different types of mortgages along with suggestions on what to do if one finds themselves falling behind on their mortgage payments. There is also a section on how to avoid scam artists that prey upon homeowners facing foreclosure.

The Homeownership Preservation Foundation is an non-profit organization whose counselors are experts in foreclosure prevention and are trained to set up a plan of action designed to keep people in their homes. The counseling service is free and counseling can be set up either on the phone at 1-888-995-HOPE (4673) or if you prefer you may avail yourself of the service online via the Contact Page.

Fannie Mae has an informational page available at Act Now to Prevent Foreclosure while Freddie Mac has a similar page at Avoiding Foreclosure. Both provide a wealth of information on foreclosure and how to avoid it, particularly if your mortgage is owned by Fannie Mae or Freddie Mac.

HUD at its Local HUD Information page provides information on a state-by-state basis, usually included is a page on avoiding foreclosure. Clicking on the link associated with avoiding foreclosure will provide links to local resources, often including credit/housing counselors that assist those trying to avoid foreclosure.

Other HUD resources at Help for Homeowners Facing the Loss of Their Home and at Guide to Avoiding Foreclosure are link filled pages providing a wealth of information and cautions for those worried about foreclosure.