Foreclosure is a growing problem across the United States. With today's complicated financing options, it is more important than ever for prospective buyers to learn how to avoid pitfalls that might lead to foreclosure. Information and referral services are available for new home buyers as well as homeowners already facing the threat of foreclosure.
The U.S. Department of Housing and Urban Development (HUD) offers information about foreclosure:
- Tips to avoid foreclosure
- Contact your lender to avoid foreclosure
- Explore load workout solutions to avoid foreclosure
- List of HUD-approved counseling agencies by state
The Federal Deposit Insurance Corporation, working through its new Alliance for Economic Inclusion Initiative and the NeighborWorks Center for Foreclosure Solutions, has partnered to promote foreclosure-prevention strategies. More information is available in a 2007 press release from FDIC.
The State of California offers home-mortgage information online for prospective homebuyers or homeowners who are having trouble keeping their payments current. For more information, go to the California Housing Finance Agency website.