The lenders have agreed to freeze foreclosures for a month to give borrowers and lenders time to work out a repayment plan.

Named Project Lifeline, the initiative is a step-by-step approach for homeowners who are 90 days or more behind in their mortgage payments. These borrowers-- many of whom may have already contacted their lender--can stop the process for 30 days or more.

The program is not a solution to the housing crisis but is considered a "pause" in the foreclosure process, giving homeowners an extra 30 days to work out a payment or modification program.

WE RECOMEND THESE STEPS ASAP!

We understand these are very hard times for you and your family so we will do our very best to give you the best advice and information we possibly can because we really do truly care and do want you and your family to stay in your home for many more years to come. Please read all the information below and make sure you read the site content to the left as it contains valuable tips as well.

What you need to know is that there are actually many options to help you avoid foreclosure and I recommend people follow these steps in this order.

1. Try Refinancing A lot of the current issues many American homeowners are having is because they need to refinance into a fixed rate mortgage. This is the most straightforward option and is worth a try to refinance.
2. FHAsecure This FHA program was made to help homeowners refinance into safe 30 year government backed mortgages. It is one of the official responses to the housing crisis. If you can not get approved for normal refinancing above we will try FHA SECURE.
3. Hope Now If you are at this stage you must have tried to refinance with the above two options but where unable to. The Hope Now Alliance will basically try to create a workout or a modification of your loan with your lender. You can get started with them by calling 888-995-Hope the service is worth a try and is free. We have heard very mixed things about them so if you do not get on a phone with an experienced person you may want to call back and speak with someone else.
4. Emergency Assistance Some states have pooled funds together for emergency foreclosure intervention. You would need to call your states housing department and see what they have available since this varies widely state by state.
5. FHA Help Now This is where the goverment and the lender that sold you the BAD loan will get there check books out and allow us to refinance you into a FHA 30 year fix at 90% of TODAYS value - AND the GOV. and current lender will pay the difference!!!!  See detailed info in the site content to the left.
6. Deed in Lieu of Foreclosure As a last resort you can try to call your bank and basically give back the house without a foreclosure on your record. Keep in mind a foreclosure on your record could stop you from buying another house for up to 5 years.
7. Intervention This is basically calling a lawyer and trying to have them delay the foreclosure as long as possible until your bank is willing to work with you. Surprisingly this can work very well but you must find the right lawyer for you.
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