ForeclosureIn this time of mortgage crisis and economic downturn, LIHS has counseled hundreds of homeowners in default and facing foreclosure action. We may be able to help you keep your home.
As a homeowner, you may be in danger of foreclosure because of changed economic circumstances (e.g., loss of or diminished income related to hospitalization, illness, job loss, death or separation of families) or because you are the victim of a mortgage scam.
Counseling & Intervention with Lenders
Our counselors will listen to you, examine your income and debts and then advise you as to possible ways to prevent foreclosure, homelessness and how to minimize your losses. In certain cases, we intervene on your behalf with your lender.
LIHS counselors will educate you about available foreclosure prevention options, guide you to make affordable and realistic loan choices, and help you to avoid predatory / abusive lenders and loan scams.
Many factors can cause serious delinquencies and lead to home foreclosure. In cases of predatory or abusive high loan terms, LIHS intervenes with the lender, reports to the government or obtains legal counsel to challenge unlawful practices.
Learn How to Budget
Learn how to budget your income and expenses, negotiate with lenders for workouts, forbearance, streamlining, restructuring debt, and/or loan modification. If, after counseling, your home cannot be saved, we advise you of options available to negotiate a deed in lieu of foreclosure or a pre-foreclosure sale.
If you abandon your home and financial obligations LIHS will advise you of your liabilities and credit repercussions.
Delinquency, default, and foreclosure disrupt your family's psychological and physical well-being. To avoid foreclosure through successful counseling (renegotiated loan terms, forbearance, etc.) allows you to recover without additional penalizing fees and threats.
Call us to speak to a HUD-approved, trained LIHS Foreclosure Prevention Counselor.