[Information in this report was updated in July 2009.]
With foreclosure filings setting records, more states than ever are providing support to residents in danger of foreclosure. One of every 374 U.S. homeowners received a foreclosure notice in April, according to foreclosure data-tracker RealtyTrac; more homeowners than ever before are in some stage of the foreclosure process. State-sponsored programs range from emergency foreclosure prevention loans to refinance programs to court-sponsored mediation programs, as well as hotlines and laws that lengthen the foreclosure process itself.
The summaries on this map detail the efforts of 46 states and the District of Columbia. Hotlines and informational websites for homeowners are identified. The information is drawn from the Center for Responsible Lending's Subprime Spillover report, the Pew Center for the States' “Defaulting on the Dream” report and the federal Department of Housing and Urban Development's state foreclosure avoidance resources.
Homeowners in states without their own hotlines or websites can contact HOPE NOW, a federally inspired partnership of mortgage companies and mortgage servicers offering foreclosure prevention counseling through non-profit agencies.
A number of new federal initiatives are being funneled through the states, including the Making Homes Affordable Program, which provides incentives for lenders and services to modify mortgages for homeowners at risk of foreclosures. If you are current on your mortgage payments but would like to refinance and can’t through conventional bank programs, you may qualify under this federal initiative. You can find out by filling out a brief questionnaire. If you are falling behind on your monthly payments and are in danger of foreclosure, you may qualify for the Home Affordable Modification, which you can also find out by filling out a brief questionnaire.