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4/27/2010

Avoiding Foreclosure

Don’t ignore the problem. The further behind you become, the harder it will be to reinstate your loan.
Contact your lender as soon as you realize that you have a problem. Lenders do not want your house. They have options to help borrowers through diffi cult fi nancial times.
Open and respond to all mail from your lender. The fi rst notices you receive will offer good information about foreclosure prevention options. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.
Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws and timeframes in your state (every state is different) by contacting the State Government Housing Office.
Understand foreclosure prevention options. Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at portal.hud.gov/portal/page?_pageid=33,717348&_dad=portal&_schema=PORTAL [??? Requires signin?]
Contact a HUD-approved housing counselor. The U.S. Department of housing and Urban Development (HUD) funds free/low cost housing counseling nationwide. Counselors can help you understand the law and your options, organize your fi nances and represent you in negotiations with your lender if you need this assistance. Find a HUD-approved housing counselor near you or call 800-569-4287.
Prioritize your spending. After healthcare, keeping your house should be your fi rst priority. Review your finances and see where you can cut spending in order to make your mortgage payment, such as cable TV, memberships, or entertainment. Delay payments on credit cards and other “unsecured” debt until you have paid your mortgage payment.
Use your assets. Do you have assets such as a second car, jewelry, or a whole life insurance policy that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t signifi cantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifi ces to keep your home.
Avoid foreclosure prevention companies. Don’t pay fees for foreclosure prevention help. Use that money to pay the mortgage instead. Many for-profi t companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month’s mortgage payment) for information and services your lender or a HUD approved housing counselor will provide free if you contact them.
Don’t lose your house to foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.

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Home Delivered Meals
As you age, your dietary needs change. So does your mobility. If you have trouble getting the nutrition you require, Area IV, with the help of a registered dietitian, can meet your changing health needs and bring meals to your door if neccessary.
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The 27th Annual SENIOR GAMES will be held June 10-14, 2013 for seniors age 55+ living in Area IV-served counties. The deadline to register is June 3rd. See Activities/Wellness on this website for the registration form -- due by June 3rd.

Wacky Wednesdays at the Movies for Seniors will show "The Vow" on June 12. Breakfast snack at 9 a.m. and movie starts at 9:30 a.m. Bring a friend and enjoy the Fellowship & Fun!

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Events

5/20/2013 10:30 AM	Croquet Clinics and Practice Session
6/8/2013 9:00 AM	3rd Annual SOFTBALL TOURNEY
6/10/2013 8:00 AM	SENIOR GAMES - 27th annual
6/12/2013 9:00 AM	"The Vow" at Wacky Wednesdays at the Movies
8/8/2013 7:30 AM	ALZHEIMER'S CAREGIVER CONFERENCE
8/9/2013 1:00 PM	VA Aid & Attendance Informational Session for home health agencies

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Area IV offers Congregate Meal Services for older persons through Benton, Carroll, Clinton, Fountain, Tippecanoe, Montgomery, Warren, and White Counties.