How To Avoid Foreclosure

The article below has some interesting statistics on how you are more likely to hold onto your home if you use a housing counselor.  I would be lying to you if I told you this is true because I don’t know much about it.  It does however make sense and I would certainly try it if you are facing foreclosure.  “Borrowers facing foreclosure are 60% more likely to hold onto their homes if they receive counseling, according to the Urban Institute’s findings. Also, these borrowers received loan modifications with average monthly payments $454 lower than those who did not see counselors.”

To find one I would go to this site http://portal.hud.gov/portal/page/portal/HUD/i_want_to/talk_to_a_housing_counselor 

http://money.cnn.com/2009/11/18/news/economy/housing_counselors/index.htm?section=money_realestate&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_realestate+%28Real+Estate%29