Foreclosure: Free brochure helps strapped homeowners

Prioritizing which bills to pay and which ones can wait a while longer is one of dozens of tips discussed in a brochure designed to offer practical advise to anyone confronting the prospect of losing their home through foreclosure.

The brochure, presented by the housing committee of the Southland Regional Association of Realtors, is available for free on-line at
www.findavalleyhome.com/.

Information in "Tips on Avoiding Foreclosure" covers a wide range of topics, leading readers on a step-by-step journey through different strategies that just might keep them in  their home.

For example, owners facing financial difficulty need to avoid two common traps: foreclosure prevention companies and foreclosure recovery scams.

Owners do not need to pay for foreclosure prevention help. Instead, use that money to pay the mortgage. While  foreclosure prevention companies may be legitimate businesses, they charge a hefty fee for information and services a lender or HUD-approved housing counselor will provide for free.

Be wary if any firm claims they can stop a foreclosure immediately, especially if they request the owner to sign a document appointing the firm to act on the owner's behalf. Instead of saving the property, signing the document might well be handing over title to the property, transforming the owner into a renter in their own home.

Never sign a legal document without reading and understanding all the terms, getting advice from an attorney, a trusted Realtor, or a HUD-approved counselor.

Losing a home can be financially and personally devastating.

The brochure available on-line offers information, phone numbers and contacts that might prevent foreclosure. Relief may be available.