Resources for Avoiding Home Foreclosure

Resources for Avoiding Home Foreclosure

Home ownership can be a heavy responsibility at times… especially when times are tough.  It can be challenging to find help when times are difficult due to a  decrease or loss of income, illness, unexpected disaster or home repairs, or personal crisis such as separation or divorce.  Add to that a reduction in home values, and the problem can seem insurmountable. While savings can help to alleviate some of the impact of these life events, it is still helpful to be aware of  potential programs and alternatives offered to distressed homeowners, too.  In fact in last month’s State of the Union address, President Obama made reference to this struggle in home ownership, saying, “And while Government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit bottom to get some relief.”

If you find yourself in a no-win situation regarding your mortgage, it can be helpful to speak with your lender and ask about modifications that can be made in the short term.  You can ask about the short sale process,  too, and see if that may be a viable option for you.  A short sale is when your lender agrees to accept a lower price than is owed on your property as payment in full.  There is a lot of paperwork that accompanies this type of sale and it is helpful to use a real estate agent that has short sale experience with this type of transaction.  In fact, some real estate agents and home buyers specialize in just this type of sale and can be a great help to you!

If you want to stay in your home, rather than sell, programs such as the Home Affordable Refinance Program (HARP), Home Affordable Modification Program (HAMP) , or the Home Affordable Foreclosure Alternative (HAFA)  offered by Freddie Mac may all be options.  Fannie Mae and your individual lender may have other programs that can assist you as well.  Please click here to view a variety of tools on how to avoid foreclosure.  Remember that you have options, if you are willing, able, and have the time necessary to explore them.  Don’t give up!

Josh Powell, sons killed in home explosion - Now the Boys are with their Mother

GRAHAM, Wash. (AP) - An explosion at a Washington state home has killed Josh Powell, the husband of a missing Utah woman, plus their two young sons, officials said Sunday.

The explosion occurred moments after a Child Protective Services worker brought the two boys to the home for a supervised visit, Graham Fire and Rescue Chief Gary Franz told The Associated Press.

Powell let the boys in the house, then blocked the social worker from entering. The social worker called her supervisors to report that she could smell gas, and the home exploded.

"Everything we know right now, this has become a crime scene," Franz said.

The children had been living with Susan Powell's parents since Josh Powell's father Steven was arrested on child porn and voyeurism charges last fall. On Wednesday, a judge had denied an attempt by Josh Powell to regain custody, saying she wouldn't consider returning the two boys to their father until he underwent a psycho-sexual evaluation.

Josh Powell was under investigation in the disappearance of his 28-year-old wife from their West Valley City, Utah, home in December 2009. He claimed he had taken the boys on a midnight excursion in freezing temperatures when she vanished.

The case took a bizarre turn last year after Powell's father, Steve, was arrested for investigation of voyeurism and possessing child pornography. Josh was living at his father's home at the time, and a judge gave Susan Powell's parents custody of the boys.

Sgt. Mike Powell of the West Valley City Police Department in Utah, which is handling the investigation into Susan Powell's disappearance, said it was too soon to say how Josh Powell's death may impact their probe.

"Quite frankly, this has obviously quickly unfolded up in Washington and we're obviously just working through the details ourselves here," Powell said Sunday.

"We are in contact with authorities," Powell added. "It's obviously an ongoing situation in Washington at this point."

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Tracy Morgan Won't Give Mother The Money Needed To Avoid Foreclosure - Its happening in Hollywood to

Between a homophobic rant on stage and his hospitalization at Sundance Film Festival, Tracy Morgan hasn't gotten the best press lately. And claims that he isn't doing enough to help his mother avoid foreclosure aren't likely to help.

The 43-year-old star of NBC's hit show 30 Rock has reportedly offered his mother, Alicia Warden, $2,000 to help her stave off foreclosure, despite her currently owing $25,000 on her Ohio home, the New York Daily News reports. Family members have spoken out against the at-times troubled Saturday Night Live alum -- who is reportedly worth $18 million -- for not providing more financial help since it "would be a drop in the bucket for Tracy," according to his sister Asia Morgan.

Morgan has reportedly been estranged from his mother for some time, portraying her unfavorably in his 2009 book I'm the New Black. On her side, Warden says she hasn't seen her son in person in over a decade, according to the NYDN.

Warden's situation may sound familiar to millions of Americans who've been affected by the foreclosure crisis in the aftermath of the housing bust. If the foreclosure on Warden's home goes through, she'd join 1.89 million households that were foreclosed on in 2011. And the problem may only get worse: experts anticipate millions more foreclosures by 2013.

In Warden's home state of Ohio, one in every 583 housing units received a foreclosure filing last month, according to RealtyTrac.com. That's enough to make Ohio one of the states struggling most with the foreclosure crisis today.

Indeed, the foreclosure crisis is so pervasive that many of Morgan's fellow celebrities have already lost their homes. JPMorgan Chase foreclosed on O.J. Simpson's Miami home in September. And in an odd twist, PETA has asked the bank to gift them the imprisoned ex-NFL star's house to turn it into a "Meat Is Murder" museum.

But other tales of celebrity foreclosure aren't quite so grisly. Last summer R. Kelly faced a foreclosure lawsuit worth $2.9 million after failing to make payments for over a year on his south suburban Chicago mansion. The artist reportedly witheld the payments as part of an effort to force the bank to negotiate a loan modification.

Actor Burt Reynolds also faced foreclosure last summer on his Hobe Sound Florida home, prompting him to slash the house's asking price by $4 million last week.

via huffingtonpost.com

Wow is all I can say....