The global economic crisis that first began impacting businesses continues to destroy consumers. Nest eggs carefully nurtured over decades are significantly down, the percentage of consumer credit being used is up even though consumer spending is down and house prices continue their free fall.
Most alarming is the number of houses with a delinquent mortgage and the record number of houses in formal foreclosure processes.
There are alternatives to foreclosure, but homeowners must be proactive. One of the most overlooked resources for people to find assistance is the U.S. Department of Housing and Urban Development. You may know the agency’s name as “HUD”. Of the many agencies battered by this unique crisis in our lifetimes, HUD has shown that it is one of the best in communicating to consumers about their options.
Consumer Help Web is honored to help HUD spread that message during Blog Action Day.
Among the services offered by HUD is a list of housing counseling agencies where consumers can get straight talk about their options. There is also a great advisory on foreclosure scams everyone should read. There is even a list and advice about alternatives when a housing lender won’t work with you.
Start at the main HUD Guide To Avoiding Foreclosure and become educated. Knowledge is power, and seeing a U.S. agency step up timely and helpful information is a welcome sight.
Posted under Finance
This post was written by George Bounacos on October 15, 2008
