Foreclosures Help Information

Stop Foreclosure Hud

Question: Can HUD have a bank stop foreclosure?

or is it up to the lender. We have been told we qualify for 2 different options by a HUD counselor. Can the bank refuse to cooperate?

We do pay our bills we were set back by Hurricane Ike.

We have contacted the bank, but they are not trying to work with us.

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Answer: Well, the answer is it depends. Do you have an FHA loan? If so then it is insured by HUD and the lender is supposed to send you a "work-out package" (i.e. budget worksheet, hardship letter, income information) for you to complete before they go through with the foreclosure. Sometimes they don't do this, but if you contact their loss mitigation department you should be able to request one.

If its not an FHA, the lender still can do the workout with you. But HUD would not be involved.

If they won;t work with you, contact your state banking department or attorney generals office. The HUD counselor you are working with should have contacts for you.

Foreclosure Help : How to Stop Foreclosure with HUD

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