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Foreclosure Help

Foreclosure Help - Saturday, October 4, 2008 at 5:41PM EST

Saturday, Oct 4, 2008 @ 05:41pm EST

Scranton, Lackawanna County -

When the American dream becomes too costly, families wake to a harsh reality. Foreclosure. Agencies like neighborhood housing services in Scranton say more people are turning to them desperate for help.

Executive Director Jesse Ergott says counselors can often help struggling homeowners keep their homes through refinancing, or by negotiating repayment plans. Ergott says, “We've seen 20 new clients in September who've been delinquent on mortgages and are looking for assistance. The sooner they realize there's a problem or could be a problem the more options that will be available to them to find a way out."

Now there's another option. Beginning this week, strapped homeowners can get help reworking loans through the government's Hope for Homeowners program. To qualify you need to live in the home. Your loan must have been issued before January 1st 2008 . You can't own another home and must meet certain income and debt requirements.

Ergott says if you've already received a foreclosure notice, your options are more limited. But says banks are often willing to work out deals to avoid getting loaded down with yet another foreclosure.
 


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