Mortgage news

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Friday, October 26, 2007

Foreclosure counseling for homeowners

October 25 2007
With the soaring number of U.S. homes in some stage of the foreclosure process, many individuals and families are wondering just what the process of foreclosure entails. At the same time, few homeowners would welcome the prospect of discussing their situation with their banker or lender. "Especially if they're in foreclosure, talking with a lender can be intimidating," says Julie Gugin, executive director with the Minnesota Home Ownership Center, a St. Paul-based nonprofit organization that provides education and counseling on homeownership to Minnesotans with low and moderate incomes. Fortunately, a number of organizations around the country provide free counseling and education to individuals who are having trouble making their mortgage payments. Many organizations around the country provide information on foreclosure, as well as counseling for homeowners who may be facing foreclosure. Here are descriptions of several such agencies:


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