Whether you are buying a new home, refinancing your current home, or facing foreclosure, a number of useful resources are available to help you make wise decisions. This is especially important during a time when the housing market is weak and many Americans are feeling the effects of the credit crunch.
Facing Foreclosure
If you are facing foreclosure on your home, free financial counseling is available
at 1-888-995-HOPE. This 24-hour hotline is provided by the Homeownership
Preservation Foundation, a nonprofit organization working with local governments,
borrowers and lenders to assist residents faced with foreclosure.
A list of local financial counseling agencies approved by the U.S. Department of
Housing and Urban Development (HUD) is also available at www.hud.gov or by
calling 1-800-569-4287. Remember, if you risk foreclosure on your home, getting
help early can mean the difference between keeping and losing your home.
Ten Tips for Avoiding Foreclosure
Refinancing your home
Refinancing can help you save money. You may be able to lower your monthly payment, reduce your interest rate or even build equity by converting to a 15-year loan from a 30-year loan.
Useful information on refinancing (HUD)
Buying a new home
Nine steps to buying a new home (from the U.S. Department of Housing and Urban Development).
HUD-approved housing counselors near you
Common questions from first-time home buyers
Other Useful Links:
U.S. Department of Housing and Urban Development (HUD)
HUD in California