When it comes to saving one’s home from foreclosure, many people don’t know where to start. They aren’t sure their original lender can or will help them, and they aren’t aware of what their options are.

Phoenix, AZ -- (SBWire) -- 02/25/2013 --Fortunately, Credit-yogi.com has done some research on this topic and is happy to share its results, including:

- Refinance with Lien Holder
- HUD Aid
- HAMP or HARP
- Deciding to Fight or Move

Talk to the Original Lien Holder

No option is ridiculous when dealing with saving home from foreclosure. The first place to request assistance from is the original lender that approved the mortgage loan. There’s a history between the borrower and the lender that can influence the outcome of an application for a loan modification (changes made to the original loan) or refinance (original loan paid in full; new one with better terms drawn up). However, if that history isn’t so wonderful, it may be wise to look elsewhere for help.

HUD Assistance

When one’s original lender denies one’s application for loan refinance or modification, it’s time to go to the government. The Department of Housing and Urban Development (HUD) can assist in saving house from foreclosure. After one has explored work-out plans, met with a housing counselor, and spoken to his lender to no avail, checking in to HUD’s options, such as VA-insured loans and FHA-insured loans is a wise move. HUD has another choice, called HOPE NOW, that can go a long way toward helping folks keep their homes.

Looking to Saving Home From Foreclosure Request With Credit-yogi

HARP or HAMP

Both HARP (Home Affordable Refinance Program) and HAMP (Home Affordable Modification Program) were developed by the Obama administration in 2009 and have been updated since then. Saving home from foreclosure is exactly why these programs came into being. Through either refinancing the mortgage loan or modifying it, these plans can save a person’s property and spare him the agony of foreclosure and credit rating damage. Apply for either program through a participating lender.

Fight or Flight?

When the issue is saving one’s home from foreclosure, it is up to the homeowner whether or not he wishes to fight the process. First, he must evaluate his circumstances. Then he can approach the banks with a letter stating who he is, what went wrong financially, and what he’s asking for. Getting media coverage of his fight to keep his home is helpful, as well, as is having a forensic audit done on the mortgage to find any oversights or deceptive procedures.

About Credit-yogi
Credit-yogi.com is a reputable, no-cost connective website located in Pitts field, Massachusetts that links people who have financial or legal problems with the specialists who can help resolve them. For a free preliminary consultation and more information, dial 866-964-9644.