Summary of Federal Help to Avoid Foreclosure

In times of serious economic crisis, the federal government sometimes steps in to help stabilize markets. It currently offers a number of programs to help distressed homeowners. For your part, you should make an honest assessment of your financial situation and consider whether foreclosure is a danger to you, and if it is, learn about the programs available to you. Federal programs may come and go over time, but your lender has other ways to help you. Lenders don’t want to foreclose because it is expensive and time-consuming and often unprofitable, so contact yours if you see trouble brewing.