How to Find a Grant That Helps Prevent Foreclosure

Grants are monetary awards that are not paid back and that are put to use in specific ways. Grants for higher education and business are well known, but grants are also available for homeowners to prevent foreclosure. Finding the appropriate grant can be complicated because of competition, deadlines and eligibility, but with some persistence, homeowners in danger of foreclosure may be able to find a grant that can pay their back mortgage and keep them in their home.

Instructions

1

Add up the amount of money owed to the bank, including fees and back payments. Grants must request a specific amount of money and usually have a limit on the amount available. Knowing precisely how much money is owed ensures that insufficient grants can be avoided or used to pay some of the outstanding balance while other funding is secured.

2

Look into government options. Government grants typically include mortgage grants and new homeowner grants that are designed to help pay for mortgages and down payments. The mortgage grants available through federal or state government often have strict rules regarding how the money is spent, so make sure the eligibility requirements are met. Government grants can be found through state websites or government grant websites.

3

Look into private grants. Private companies sometimes offer help in preventing foreclosure by giving grant money. Programs through NeighborWorks or similar non-profit organizations often have grant options available for homeowners who are in danger of foreclosure.