|
Home ownership presents a unique set of
challenges and responsibilities for everyone. The Office
of
Housing has just completed major enhancements to a web site
developed for consumers experiencing home ownership difficulties
through job loss, illness, or other causes. The site, "Help
for Homeowners Facing the Loss of Their Home" is located
at http://www.hud.gov/offices/hsg/sfh/econ/econ.cfm.
This site offers a comprehensive, yet user-friendly
approach to helping families and others who may not be able
to pay their mortgage. The pages are organized around eight
steps and sections. Viewers can go through the eight sections
sequentially or to specific pages of greatest interest. Numerous
links are available to other federal government resources,
as well as non-government legal assistance, job resources,
and credit education sites.
Two key actions are to contact lenders
and to seek housing counseling. The first step is for a
consumer
to contact their lender as soon as they have a problem. It
is important for homeowners to know that most lenders want
to help borrowers keep their homes. The site notes that the
farther you are behind on your payments, the fewer options
are available. This section lists four critical pieces of
information to have ready when you call. There are various
links on this web site. The links are directed to families
with FHA loans and housing counseling agencies, just to
name
a few. Another important link is to HUD's National Servicing
Center (NSC). The goal of the NSC is to assist FHA homeowners
by working with lenders to find creative solutions to avoid
foreclosure.
In the extensive resources section, there
are 18 different links to other sites providing additional
information. For example, consumers can call from among 20
lenders to get expertise concerning home retention. Another
section contains frequently asked questions. This site was
developed through the collaborative efforts of HUD/FHA, members
of the mortgage industry, the Department of Veterans Affairs
and Labor, as well as Fannie Mae and Freddie Mac.
 |
Re-Instatement or
