What resources are available for homeowners facing foreclosure?

The U.S. Department of Housing and Urban Development (HUD) offers several resources for homeowners facing foreclosure. One vital resource is HUD-approved housing counseling agencies, which provide free counseling services and assistance in understanding foreclosure processes, exploring alternatives, and creating action plans. Homeowners can also find information about foreclosure prevention programs and loan modification options on HUD's website. Additionally, HUD collaborates with state and local governments to offer emergency assistance programs, such as the Emergency Homeowners' Loan Program (EHLP), which provides loans to eligible homeowners to bring their mortgage payments current. Furthermore, HUD supports the Making Home Affordable Program, offering options to modify or refinance mortgages, and the National Servicing Center provides support and guidance to borrowers. These resources aim to aid homeowners in navigating the foreclosure process and finding solutions to keep their homes.