Foreclosure Prevention Counseling: Preserving the American Dream

Loaded with practical advice on stopping a threatened foreclosure, this revised edition now details the Obama administration's "Making Home Affordable" program and other new loan modification initiatives. The volume also provides basic steps to obtain a workout, tailored for six different types of mortgages:

• Fannie Mae and Freddie Mac;
• Subprime;
• FHA-insured;
• VA and Rural Housing Service.

Special chapters cover the mechanics of arranging a workout and "fourteen steps to foreclosure prevention." The book also includes:

• Homeowner strategies for reducing and prioritizing debt;
• Dealing with loan overcharges and servicing errors;
• Legal protections against foreclosure;
• Answering questions about bankruptcy;
• Homeowner options after the foreclosure sale;
• Summaries of each state's foreclosure and real estate tax abatement laws.