Foreclosure Prevention in Arizona
Arizona home owners in fear of foreclosure can utilize state assistance to keep their homes. Foreclosure not only allows the lender to repossess your home, but it also has a damaging affect on your credit score. In Arizona, a foreclosure typically takes about three months. Act at the first sign of a struggle making your mortgage payment to avoid foreclosure.
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Arizona Foreclosure Help Line
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Home owners can connect with a certified nonprofit foreclosure prevention counselor by calling the toll-free Arizona Foreclosure Help Line. Counselors will evaluate your individual situation and work with you to develop the best possible plan to prevent foreclosure. Services range from creating a budget to filing bankruptcy. A counselor can negotiate with your lender, answer any questions you have related to the foreclosure process and qualify you for federal assistance programs. The Making Home Affordable program prevents foreclosure by allowing home owners to refinance at lower interest rates or adjust the terms of the loan through a modification.
Arizona Foreclosure Prevention Task Force
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The Arizona Foreclosure Prevention Task Force is a nonprofit organization implemented to reduce the number of foreclosures throughout the state by empowering home owners with knowledge. The organization offers home owners valuable tools and information necessary to prevent foreclosure. Current information about the Arizona foreclosure process and possible avoidance options are provided. Through the website, you can access legal aid and counseling resources, tips for avoiding scams and a calendar of workshops and seminars held across Arizona.
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Arizona Foreclosure Prevention Innovation Fund
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The state of Arizona is determined to be one of the states hit the hardest by the foreclosure crisis of 2009. The U.S. Department of Treasury awards additional funding to the states that feel the most impact from the decline in the housing market. The Arizona Foreclosure Prevention Innovation Fund was established to provided mortgage relief to home owners who suffer a financial hardship. To qualify for assistance, your income cannot exceed 120 percent of the median income for your area and the home must be your primary residence. The fund offers loan modifications and temporary mortgage assistance. Contact your lender to apply for aid through the fund.
Legal Assistance
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Pro bono attorneys volunteer their time and services to help home owners avoid foreclosure. If you cannot afford an attorney, legal aid is available. Low-income home owners in Arizona can contact a local legal aid organization to apply. If approved, attorneys provide free or low-cost advice and representation to save your home from foreclosure. The U.S. Department of Justice provides contact lists of free legal service providers. You can locate additional legal aid organizations through the HUD website.
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