Ten Things You Can Do to Stay In Your Home

I was at Staples on Thursday and a lady came up to me and gave me a photocopy from a magazine and I thought I would share it with you.

The information came from The Nation Magazine, March 23,2009 edition. This magazine has a monthly feature called "ten things". The editorial is written by an editorial board member named Walter Mosley. This is a do-it-yourself opinion and action device. The magazine describes this feature as a "go to the heart of issues in a stripped-down, active and informed way. They interview experts or everyday citizens and construct a list of ten things you can do.

Anyway

Here are ten things to help you fight foreclosure and to stay in your home.

*****DISCLAIMER**** I am not a professional financial advisor nor do I claim to be. I have no real financial experience except spending money on groceries.

I am passing this information on hoping it can help someone.

1. Make sure your loan has a fixed rate of interest and not a variable rate. If it has variable rate, work with your mortgage lender to get it to a lower fixed rate.

2. Seek out HUD-certified counselors (hud.gov) when you are thinking of refinancing. Contact only nonprofit agencies such as legalaid.org. You do not have to pay a fee to get out of foreclosure.

3. If you are being foreclosed, call the ACORN foreclosure hot line immediately, at (347)410-5894

4. Do not take out loans that are beyond your financial means. (I think this should be #1 but as I said I am not a professional) Do not make payments to any institution except your lender.

5. If you are a renter in a house that has been foreclosed, your landlord must give you notice before evicting you. Once you are given notice, find out how much time you have- the laws vary from state to state. For renters rights in a particular state, search hud.gov/renting/tenantrights.cfm Go to nolo.com, click on "Property & Money" and go to "Foreclosure" for more information. (If you have info or resources on renters' rights, please send an e-mail to NationTenThings@gmail.com.)

6. Avoid companies that promise a quick fix. Go to fraudguides.com/mortgage-foreclosure-rescue-scam.asp to see a list of scams.

7. If you believe you are in a foreclosure scam, contact a lawyer immediately. Go to naca.net or foreclosurelegalassistance.org. Always use an attorney with a background in representing familes in foreclosure.

8. Stay in communication with your bank, and always ask questions when you don't understand something that was said or something that you read. Go to responsiblelending.org/glossary.html for an explanation of foreclosure terms.

9. Suppport organizations that assist families with foreclosures:
Neighborhood Assistance Corporation of America (naca.com)
Center for Community Change (communitychange.org)
Take Back the Land (takebacktheland.org)
National Low Income Housing Coalition (nlihc.org)
Housing Assistance Council (ruralhome.org)
National Housing Law Project (nhlp.org)
Watch testimonials on the Brave New Films website fightingforourhomes.com

10. Call your local ACORN chapter for help (acorn.org/offices). Volunteer to be a home defender in your area. Display an ACORN Foreclosure-Free Zone sign in front of your house or apartment. Tell family and friends facing foreclosure to seek counseling from ACORN, and tell Congress to keep families in their homes. Go to acorn.org and click on "action" for more information on advocacy.