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Foreclosure Information And Referral Resources
For homeowners And Home Buyers In Riverside County
Foreclosure is a growing problem across the United States, particularly in Riverside County and the rest of the Inland Empire.
In the first half of 2007, 41,351 foreclosure filings on 22,291 properties were reported in Riverside and San Bernardino counties. In the two-county area, the number of properties with foreclosure filings nearly tripled compared to the first six months of 2006.
With today's complicated financing options, it is more important than ever for prospective buyers to learn how to avoid pitfalls that might lead to foreclosure. Information and referral services are available for new home buyers as well as homeowners already facing the threat of foreclosure.
The U.S. Department of Housing and Urban Development (HUD) offers
information about foreclosure at several websites:
HOPE for Homeowners
NOTE: Homeowners, contact your existing lender and/or a new lender to discuss how you may qualify for the H4H program.
The HOPE for Homeowners (H4H) program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans. H4H is an additional mortgage option designed to keep borrowers in their homes.
The program is effective from October 1, 2008 to September 30, 2011.
As many as 400,000 homeowners could avoid foreclosure through this program over the next three years. If you are having trouble making your mortgage payments, HOPE for Homeowners may be able to help you, by refinancing your loan into a new 30-year fixed rate loan with lower payments.
The Federal Deposit Insurance Corporation, working through its new Alliance for Economic Inclusion initiative and the NeighborWorks Center for Foreclosure Solutions, has partnered to promote foreclosure-prevention strategies. More information is available in a press release located at www.fdic.gov/news/news/press/2007/pr07059.html
Riverside and San Bernardino County residents who need information or referral services about foreclosure may contact Neighborhood Housing Services of the Inland Empire. Information is available at the group's website, nhsie.org/contact.htm.The group is affiliated with NeighborWorks.
The State of California offers home-mortgage information online for prospective homebuyers or homeowners who are having trouble keeping their payments current. For more information, go to www.yourhome.ca.gov or, in Spanish, www.sucasa.ca.gov.
Riverside residents who need an attorney to deal with a foreclosure problem may contact the Riverside County Bar Associations Lawyer Referral Service. Information is available online at www.riversidecountybar.com/. Residents in western Riverside County also may call the service at (951) 682-7520. Residents east of Banning should call (760) 568-5555.
The Bar Association's Tel-Law service offers tape-recorded messages that can help you determine if you have a legal problem and where to go for help. Topics range from second mortgages to adjustable-rate mortgages to protection from creditors. Go to www.riversidecountybar.com/ or call (951) 369-3563 or (951) 824-2300.
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