Talk to Lender
This is the first thing that you will need to do. Many of the lenders already have coverage for such issues and you can check if they can help you out in this regard. In case there is no such plan in place, ask them to provide you with more time and explain your current situation. This may not entirely remove the chance of a foreclosure but can reduce it as well as get you some much needed time.
Disaster Relief Operation for FHA Home Owners
The program helps homeowners in either stopping or at least delaying a possible foreclosure for FHA home owners. In order to qualify, you must either be living in an area that has been declared as disaster hit by the President, you are unable to pay your mortgage due to your income being affected by the disaster or have a family member who is injured, missing or dead in the disaster.
Making Home Affordable
This is a government run program that helps home owner who may have a home foreclosure or are in the process of one. You must be eligible for the program in order to get help. There are variations in the different programmes within the program but the home should be your primary residence in any case and the mortgage should be more than 31% of your household’s gross income. The program helps in getting houses refinanced and lowering the interest rate and is free of any fee.
Foreclosure Relief Program
The program aims at reducing home foreclosures by providing relief throw lower interest rates and lower monthly payments. It is sponsored by Global Hope Community Services. Refinancing and loan modification are also a part of the services offered in the program.