A Resource if You Face Foreclosure

September 6, 8:58 AMResidential Real Estate ExaminerMichele Lerner

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Some elements of the Housing Act passed in July will kick in October 1, but homeowners in financial trouble now should not wait to make a move. As I mentioned before, contacting your lender to discuss your options and explain your problems should be step one.

But besides contacting a lender, struggling homeowners should check to see if they are already eligible for mortgage assistance through FHASecure, the Federal Housing Authority (FHA) refinancing program. 

To see if you might be helped by an FHA refinance, either:

1. Contact a local, HUD-approved housing counseling agency at www.HUD.gov

or

2. Contact the HOPE NOW Alliance at 1-888-995-HOPE

Disclaimer: This column should not be taken as legal advice for your personal situation. Please consult an attorney, lender, Realtor or other real estate professional before making decisions.