Know Your Rights In A Foreclosure

Some great places to help you start understanding what your rights in a foreclosure are:

1. The Federal Housing Administration website. This is a great resource that has a lot of information about the recent laws that have been enacted to help people keep their homes and avoid foreclosure. This site can give you a better understanding of your rights in a foreclosure as far as whether or not you would qualify for help under any of the new laws that have been enacted.

2. The U.S. Department of Housing and Urban Development website (www.hud.gov). Again, this site has a lot of information about recent laws. The great part about this site is that it also gives you information about how to contact a HUD-approved housing counseling agency. This can be a great resource for you in understanding your rights in a foreclosure and in helping you think through solutions to save your home.

3. Your state, county and city websites. There are specific laws and timelines that govern foreclosure in each state. The timelines especially can vary widely from state to state so it is important to know what those timelines are for your state. Some states or local governments have their own programs to help you understand foreclosure and to help you avoid it. Because many of your rights in a foreclosure revolve around what the rules are for your state, it is vital that you research and truly understand what laws govern foreclosure in your state.

4. Believe it or not, your lender is also a great place to start. They have foreclosure specialists who deal with foreclosures on a daily basis. And more than anyone else you will talk to, they know what your bank will require from you. What your bank’s policies and procedures for foreclosures will be a very important thing to take into consideration when you look at what your rights in a foreclosure are.