Government Assistance for Foreclosure
When people are in foreclosure, they look to the government for foreclosure assistance. With
more and more people facing foreclosure, the government is coming up with solutions and aids to help people avoid
and get out of foreclosure. There are a few government assistance for foreclosure programs as well as government
funds and mortgage assistance grants to help people avoid foreclosure. The biggest problem is that not
everyone is eligible for government assistance for foreclosure. If you are a victim of natural disasters or a
military personnel, then you may be eligible for the government assistance for foreclosure.
Government helps victims of natural disaster areas facing foreclosures
The government is helping victims of natural disaster areas who are facing foreclosure. The
question is, are you considered a victim of the natural disasters that are eligible for the government help.
If you live or work in an area declared a disaster by the President, are under a home
foreclosure crisis, you may be able to find state government solutions to your problem if your home
is damaged or your income is reduced by:
other natural or
What are the government assistance for foreclosure available to natural disaster
In this case, your lender will provide disaster relief such as extending the grace periods of
your mortgage payments and postpone foreclosure actions.
If you live in a zip code published by the Federal Emergency Management Agency or FEMA as being
a federal disaster area, you will not be charged late fees during the grace period. The lender will not take any
actions against you such as reporting your delinquent account to the credit agencies or initiating the foreclosure
Government assistance for foreclosure available to military personnals
Another group of people whom the government helps in case of foreclosure is the military
personnels and their spouses. Unlike the help the victims of natural disasters get, military personnels or their
spouses on active military duty may be eligible for paying lower interest rates on their house mortgage payments.
The Servicemembers Civil Relief Act of 2003 (formerly the Soldiers' and Sailors' Civil Relief Act of 1940) outlines
rights of a military personnel homeowners, reservists, and guardsmen about mortgage payment relief and protection
While the government has many programs in place to help homeowners in crisis facing foreclosure,
not everyone can benefit and for many homeowners the aid from the government comes too late to help the avoid