Realty Insights for Home Buying, Home Selling, and Indy Info

Following is an article from Bankrate.com with some helpful tips for homeowners who may be facing foreclosure or the threat of foreclosure: Homeowners have several options for saving money, their credit rating or their home -- but should beware of scams. By Bankrate.com In the beginning of the foreclosure process, homeowners can still save money, their credit or their house if they act quickly. Even when declaring bankruptcy, avoiding a foreclosure on your credit report can salvage your ability to rebuild credit and buy another house, which makes the struggle against a possible foreclosure well worthwhile. 6 possible dos when foreclosure looms: 1. Sell the property : If you can find a buyer before the house is auctioned, you can sell it and keep whatever equity still exists. 2. Work out a deal : Your lender may be willing to work with you, rather than lose money at a foreclosure sale. 3. File Chapter 7 bankruptcy : If you can't get caught up in time, you will not be able to keep th...

Problems paying your mortgage? Too many people simply give up and accept foreclosure because they do not know where to turn for help. The Homeownership Preservation Foundation, a Minneapolis-based nonprofit, is trying to change that. Homeowners can call 1-888-995-HOPE and be connected to experts who are certified by HUD and specially trained to offer solutions and options to the homeowners particular financial concerns and open up communication between the homeowner and their mortgage company. More information can also be found at www.995HOPE.org or www.hpfonline.org .