For homeowners who are afraid that they will lose their home, some help is on the way. President George W. Bush signed the new housing law last week that Congress passed to help homeowners stay in their homes.
Excerpt from the Savy Consumer article in the Fort Worth Star-Telegram article by Teresa McUsic
“David O’Brien Jr., executive director of Housing Opportunities, a housing-counseling service, says he is ‘guardedly optimistic’ that the new law will help homeowners facing foreclosure today.
Key to avoiding foreclosure is letting your lender know as soon as your financial problems begin, O’Brien said.
‘The earlier you diagnose the problem and seek some kind of help, the better off it’s going to be,’ he said.”
The law also provides benefits to first-time home buyers, property-tax payers and senior citizens who are getting reverse mortgages.
