Prevent Foreclosure, Keep Families in Their Homes from Foreclosure-Response.org

Prevent Foreclosure, Keep Families in Their Homes
Provide Counseling, Mediation or Legal Assistance

Connecting homeowners with assistance from a housing counselor, mediator or lawyer can help prevent foreclosures by providing information and resources on foreclosure alternatives, offering legal expertise, acting as advocates that help navigate the loan modification process, and catalyzing negotiations between homeowners and mortgage servicers. Housing counselors and lawyers help homeowners understand their rights and assess their options for avoiding foreclosure, and mediators can assist both parties in reaching an acceptable outcome.

Counseling, mediation and legal assistance programs can be implemented in a wide variety of settings and are easily tailored to the circumstances of individual communities.

Click on the options below to learn more about third-party interventions:

Information and Counseling
Strategies that provide immediate foreclosure prevention assistance include 24-hour hotlines and expanded outreach by reliable non-profit assistance organizations.

Mediation
Mediation provides a venue for lenders and borrowers to negotiate alternatives to foreclosure that can benefit both parties.

Legal Assistance
Legal assistance can be a critical resource to help families stay in their homes and prevent financial losses by negotiating alternatives to foreclosure.

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Counseling, Mediation and Legal Assistance

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Financial Assistance
By connecting families with low-cost refinance loans, second mortgages, and emergency loans, state or local housing finance agencies can help homeowners avoid foreclosure and stay in their home at a monthly mortgage payment that they can afford.

Extending the Foreclosure Timeline
Extending the process of home foreclosure through a temporary moratorium on foreclosure or by increasing the notice period required before a foreclosure may take place may allow homeowners additional time to reduce the financial damage of foreclosure.

Reduce the Risk of Foreclosures in the Future
Foreclosure risks are often identifiable and preventable many years in advance. Governments can counter these risks through targeted outreach, regulations to prohibit the riskiest loans, and enhanced consumer awareness to help families make better mortgage decisions.

Click here for more resources on preventing foreclosure.