Foreclosure Help in Minnesota

Are you struggling with mortgage payments and finding it difficult to catch up on previously missed past payments?  Perhaps looking into Minnesota Foreclosure Help will assist you in making some decisions that require additional assistance and knowledge.  You are not alone, and there are many people just like you who are investigating their options, especially when it comes to mortgage payments and foreclosure.

Below is a summary of some of the assistance programs that are out there for you to take advantage of:

  • Minnesota Foreclosure Prevention Assistance Program (FPAP): This is a program geared to Minnesotans who need instant access to foreclosure assistance and prevention.  Are you facing a temporary lack of income or a hardship that has changed your monthly income, then this is the place to start whit any questions or concerns that you may have.  It is a community based, non-profit organization and can be reached by dialing 888-710-8871.
  • Minnesota Mortgage Relief Project:  For a free evaluation, call 888-718-0986 and be directly in touch with someone who can direct your call to an appropriate legal representative.  There is no fee to you, and their website is very informative and offers a lot of questions and answers relating to foreclosure.
  • Minnesota Homeownership Center:  This is a spot where you will find a variety of resources related to being a homeowner and are coming close to, or are in foreclosure.  They are a non-profit organization and offer free foreclosure advice that can help you with some decision making or give you valuable information about the foreclosure process.

Have a specific question about Avoiding Foreclosure in Minnesota? Check out our Foreclosure FAQ’s section.

If you are behind in mortgage payments here is a lit of things you can do to assist you with the process of gaining back your home:

  1. Find a mortgage counselor with the Minnesota Housing Finance Agency or U.S. Department of Housing and Urban Development – or “HUD.” A counselor could help you locate financial assistance or find a solution with your lender.
  2. Can you apply loan modifications? Your lender could be agreeable to modifying the terms of your loan to make it more affordable for you.
  3. A new, refinanced loan. It is possible that you can find another lender that will refinance your home at a lower interest rate, making it more manageable for you.
  4. Ask for a forbearance. A temporary reduction or suspension for your monthly payments until a set date has been established.
  5. Set up a repayment plan with the lender. Perhaps your lender will make arrangements with you to set up a repayment plan that will pay the past due amounts and the mortgage payments all in one.
  6. Look into selling the home. This is the best option in many cases, especially if you have equity in the property.
  7. Deed-in-Lieu-of-Foreclosure may be an option if you don’t have equity in your home, or if a modification doesn’t make your payments affordable. Ask your lender for more information about a deed-in-lieu of foreclosure and how it may be beneficial to you.

Facing foreclosure is a difficult situation, and many are faced with more questions about the foreclosure process and things you can do to prevent foreclosure in Minnesota.  Remember to take notices seriously and find yourself a reputable counselor when foreclosing your home.