Guide to Surviving Debt by National Consumer Law Center

Author:National Consumer Law Center [Center, National Consumer Law]
Language: eng
Format: epub
Tags: Student Loan, Debt, Loans, Bankruptcy, Mortgages, Credit Cards
Publisher: The National Consumer Law Center
Published: 2015-11-30T22:00:00+00:00

Seek Out Any Available State or Private Sources of Funds for Foreclosure or Disaster Assistance. In times of foreclosure crises, states sometimes set out special foreclosure assistance funds, that provide low-cost loans to homeowners who are threatened with foreclosure, to help them get caught up on overdue payments and make some future payments. Check if your state or city presently has such a program.

If you receive a notice about the availability of special assistance with foreclosure, you should apply if you think you have any chance at all of meeting the program’s requirements. These programs have early deadlines that you must meet. Failing to meet the deadlines will disqualify you.

There are also a variety of private programs for financial assistance with mortgage payments in different parts of the country. To find out about these programs, you should contact a local nonprofit housing counselor or other specialist. One problem, however, is that some scam artists have learned to design their rip-offs to look like assistance offered by a nonprofit. Before getting into a deal too deeply, investigate to make sure the program is legitimate. Never sign away rights to your home in order to get help.

If the default on your mortgage was caused by a natural disaster (either because it affected your income or required unusual expenses for home repairs), you may be able to obtain state or federal disaster relief. Check with your local government or a local Federal Emergency Management Assistance (FEMA) office. FEMA will publicize a toll-free telephone number in the disaster area. Call that number or visit their local office for information about FEMA’s “mortgage assistance program.”

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.