There have been a number of new laws passed in 2008 to try and help homeowners. The links below are directly to the library of congress and provide detailed information.

The Mortgage Forgiveness Act January 2008

The Foreclousure Prevention Act July 2008

 

Looking for someone to call to discuss your situations to find the best resolution for you? Here is a list of websites and phone numbers that you can call for information and assistance.

Click here to be redirected to the HUD Website

Opinions vary on what the credit affects will be on a short sale versus foreclousure. Click the link for information on this debate.

Short Sales vs Foreclosure - What Are The Effects On Your Credit?

 

A Home Owner in foreclosure has protection from people taking advantage of their situation
for more information on this law click the link below.

Home Equity Sales Act and Foreclosure Consultant Act

 

FHA Forclousure Facts

Link to the FHA website

 

Loan work outs on the Rise

Link to an article regarding Loan Work Outs versus Repayments

 

Foreclosure is not the only option.

Link to Home Ownership Preservation Foundation

 

NeighborWorks America creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities.

Link to NeighborWorks America website

If you feel like you may be in danger of facing foreclosure, the time to call 888-995-HOPE is now - Homeowner's HOPE™, a counseling service provided by the Homeownership Preservation Foundation, can work with you to find a solution.

Link to HOPE NOW website

**Nothing is this article or page should be construed as legal or financial advice. For legal/financial questions, seek a the advice of a professional advisor. Tom is not associated with or endorses any of these organizations. These links are provided only as a source of information from where you can form your own opinions and decisions.