21 Apr South Florida Consumers Seeking Foreclosure Assistance Use Clinic To Find Answers
More than 800 people facing foreclosure in southern Florida last week sought out The Foreclosure Prevention Clinic in an attempt to get answers.
Lenders, as well as local housing agencies and representatives from the U.S. Department of Housing and Urban Development (HUD), Fannie Mae and Freddie Mac, were on hand April 12 to offer direct help to borrowers. HUD representatives explained the â€œFHA Secureâ€™â€™ program, which purports to help homeowners with adjustable-rate mortgages refinance to a fixed-rate loan. Legal Services of Greater Miami, Inc., was on hand to offer free legal advice to homeowners in trouble.
Informational materials including fact sheets warning about refinance scams and decoding complex terminology used by lenders were on hand.
But will it help people out of foreclosure? Not unless they take action as quickly as possible.
The key to avoiding foreclosure is to move quickly, and remain proactive. Instigate your options, make contact with your mortgage servicer as well as an attorney well-versed in foreclosure matters, and do it immediately.
Arming yourself with as much well-researched knowledge as possible will enable you to avoid the vultures that inevitably swoop in when a home is listed for foreclosure.
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