Pittsfield, MA -- (SBWire) -- 03/14/2013 --Stopping a home foreclosure might involve a complicated search for help. There may be several application processes required in an attempt to secure a loan, or perhaps refinance your existing mortgage to make it easier to pay. The most important thing is to start early. Don't wait till the last minute to learn how to stop a foreclosure on your home.

- Contact the FHA (Federal Housing Administration) to see what programs you may be eligible for.
- You may be able to modify or refinance your loans to make them easier to pay.
- If your house has decreased in value since the time you bought it, inquire about the MHA (Making Homes Affordable) Program
- If you have no way of paying a mortgage there are programs designed to help with the transition to more affordable housing.

Now is not the time to sit back and wait for a solution to come. As soon as foreclosure becomes part of the conversation with your lender you need to act. Do your research by contacting the Federal Housing Administration. The FHA is a branch of the Department of Housing and Urban Development. Here you find the various programs the government has established to deal directly with the housing crisis and people like yourself who are in danger of losing their homes.

People Who Are Struggling with Home Foreclosure Can Send Request Here to Get Free Advice With Expert and Stop Foreclosure

The largest program is called the Homes Affordable Modification Program (HAMP) and was started back in 2009. It encourages lenders and home owners the possibility to restructure their existing mortgage to make it easier to pay, and also ensures the lender will be paid in full the principal of their loan. From HAMP comes other variations of this program to help widen the umbrella of protection from foreclosure the government is trying to establish.

For all of these programs you are going to need to show real financial hardship caused by unforeseen scenarios such as illness and medical expenses to sudden loss of employment. Your evidence of hardship will have to prove that your current financial situation is enough to feed, clothe and shelter you and your family. However many people have proven eligibility and save their homes from foreclosure.

Home Affordable Refinance Program (HARP): If you have tried unsuccessfully to get a traditional refinance because the value of your home has decreased you might still be available for HARP. Your current mortgage has to be through Fannie Mac or Freddie Mae however and have started before 2009. The loan to value ratio must be greater than %80 and you must be up to date with payments and have a good payment history.

Principal Reduction Alternative: This program is designed for homeowners whose homes have decreased in value significantly. The lender is encouraged to lower the overall principal of mortgage to something more in line with the market value of the home. This is also a good program for people in serious financial hardship and their mortgages are not part of the Fannie Mac or Freddie Mae lending companies.

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