How to Get Free Help to Stop Foreclosure

In tough times, some homes in a neighborhood like this may be foreclosed.
In tough times, some homes in a neighborhood like this may be foreclosed. (Image: Thomas Northcut/Photodisc/Getty Images)

Resources -- many of them legitimate and free -- are available to Americans who are in danger of foreclosure on their homes. Because of the high foreclosure rate, many non-profit and government agencies offer free help to stop foreclosures.

Approach the lender that carries your home mortgage. Whether it's a bank or another financial institution, the lender does not want a home to go into foreclosure because the process is costly. Your lender may offer a loan workout, which could be a repayment plan on missed payments, a mortgage modification or some other option. If none of the lender's solutions will work, look elsewhere for help.

Contact the Home Ownership Preservation Foundation, a non-profit organization that helps individuals with foreclosure problems for free. The organization provide both online counseling through its website or telephone counseling if you call its hotline at 1-800-995-HOPE.

Seek help from the U.S. Department of Housing, which partners with approved counselors in each state to assist homeowners at risk of foreclosure. Through the federal government's Making Home Affordable programs, homeowners may be qualified for a loan modification or refinancing.

Tips & Warnings

  • When calling any agency have your mortgage contract and foreclosure notice in hand.
  • It is best to ask for help avoiding foreclosure as soon a possible.
  • Waiting to late to find assistance to avoid home foreclosure can end badly.

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