Grants to Help Stop Foreclosure

With the number of foreclosures skyrocketing throughout the United States the government is scrambling to try to assist people with keeping their homes. While some programs work with organizations that in turn assist homeowners, others are available directly to those in need.

One of the most important things to realize when looking for help is that unfortunately there are any number of scam artists out there just looking for those desperate individuals they can prey upon. Protect yourself by going to approved and recognized organizations, legal representatives and other community programs. Never give money to an Internet site making “too good to be true” promises – the only one that should be asking you for money is your mortgage lender. And don’t pay for advice that comes freely available on government sites.

That being said, some sites that have some good advice and assistance are:

  • U.S. Department of Housing and Urban Development (HUD). Offers various government programs to prevent foreclosure.

  • Grants.gov. http://www.grants.gov/ serves as a site to check the legitimacy of any grant you are being told about. If it isn’t listed there, chances are it is a scam. You can locate and even apply for legitimate grants from this site.

  • Other Types of Government Assistance. If you are facing foreclosure, chances are you are having difficulty with other things as well. As a general site with all types of topics on government benefits, grants and aid, go to http://www.usa.gov/Citizen/Topics/Benefits.shtml to see what other programs, such as college grants, employment training, and government jobs exist to help you.

  • Buying a foreclosed home. The government is also concerned with the problem neighborhoods face when a large number of homes become foreclosed upon. The Neighborhood Stabilization Program targets areas where foreclosures are high to assist buyers with the down payment to purchase these homes. This program is not limited to low-income borrowers, so anyone looking to purchase a home in today’s market should look into this program at http://www.nls.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/

Communication with your mortgage lender is critical to keeping your home. If you see yourself falling one or two months behind, that is the time to call and let them know what your situation is rather than waiting for that inevitable knock on the door followed by the words, “You’ve been served.” Understand that you are not alone and your lender has certainly dealt with this more than once or twice. They will appreciate you keeping the lines of communication open which will buy you the time you need to investigate what funds may be available to help you.

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