Massachusetts clocked 7,707 foreclosures for the year 2009, according to the Citizens Housing and Planning Association. Bay Staters in Boston may wonder what kind of assistance is available for them in the event of a potential foreclosure. Learning about Boston foreclosure help options can allow you to make the best of a bad situation.
Foreclosure Prevention Initiative
The city government of Boston launched the Foreclosure Prevention Initiative in 1996, known at the time as the Boston Home Center. This provides counseling to people in the process of buying a home as well as people currently going through a foreclosure. The program receives funding from the city, the Commonwealth of Massachusetts and the federal Department of Housing and Urban Development. The initiative also offers seminars for people who have mortgages from lenders deemed to be predatory.
Ensuring Stability Through Action in our Community
Ensuring Stability through Action in our Community is another program offered by the city of Boston to help with foreclosure. Counselors will help you stay in your home while you fight foreclosure. The program also helps people to repair their homes as well. This group will also help by referring you to other organizations that can assist you in your fight to keep your home throughout the commonwealth.
Knowing the Law
One way that you can help yourself is by knowing the law in the state. When you are undergoing foreclosure, it may help to hire an attorney to help you navigate the process. However, knowing the law and insisting upon your rights can help you prevent being taken advantage of by unscrupulous lenders and collection agencies. Perhaps most importantly, be aware that you cannot be foreclosed upon until you have missed four payments.
Foreclosure Lawyers
Some lawyers specialize in foreclosure law. These professionals can help you stay in your home for a longer period while you fight foreclosure. Alternatively, the foreclosure lawyer may be able to help you save your home through legal channels. The lawyer may also be able to assist you in a worst case scenario by getting you a better deal even if you lose your home, such as minimizing fees and additional debt to the bank or negotiating a short sale.
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