Hawaii Realty International

Preventing Foreclosure on your Hawaii Home

Foreclosure is an extremely stressful and confusing time for homeowners who have the misfortune to encounter it. It can be very difficult to make the important decisions that you need to be focusing on at this time. This is why many families facing foreclosure look for outside assistance when they find themselves in this situation. Depending on your preference, there are a variety of ways that you can get assistance in avoiding foreclosure. The following are the most popular options.

Self Help

No matter where you seek assistance with your situation, you should be well educated about the process. In order to make the right decisions, gaining as much knowledge as possible about the foreclosure process is important. You may find that if you seek help early enough you will be able to stop the foreclosure.

If you feel confident in handling this situation yourself and you are in the early stages of pre-foreclosure, self-help resources can be helpful in halting the process. There are many good self-help resources on how to stop the foreclosure you. Check the link at the bottom of this article for the three I recommend. Self-help for stopping foreclosure usually comes in the form of e-books or physical books. The good ones also include other helpful resources such as forms that you will require, example letters and more.

 

Foreclosure Specialist

If you are confused or not sure about your options, it may be a good idea to consult a Foreclosure Specialist to get help with your situation. A Foreclosure Specialist is a professional who specializes in helping families keep their homes by avoiding foreclosure. Your consultant can advise you on your options and even help you with the entire process by working with your lenders on your behalf.

Choosing a foreclosure prevention specialist is a serious task. While there are many legitimate companies out there with good intentions, there are also some unscrupulous ones. Your best option is to look for referrals or to do your research on the Internet and with the BBB. There is one company that I recommend to people who offers free consultations. You can find them on the site linked below.

Government Programs

In light of the recent foreclosure crisis, the US government has established new programs designed to help families stop foreclosure. Some of these may be helpful to you depending on your situation.

HOPE NOW and Project Lifetime are two such government programs. Both are similar in that they seek to modify the loan to make payments affordable again. There are some qualifications for both programs and public response to them has been mixed. Still, in some situations these programs may be appropriate.

As you can see, there are several routes that you can take in getting assistance to stop foreclosure. Some solutions are better for some situations than others, so consider your own circumstances and don't be afraid to seek the help you need. When dealing with foreclosure, time is not on your side. The sooner you take action to address your situation, the more options you will find open to you