Stop Foreclosure Answer

Over the last year and a half the Federal Deposit Insurance Corporation (FDIC) has taken a very proactive role in helping people save their homes from foreclosure.

After they took over IndyMac Bank. a failed mortgage lender, last year they suggested the model for loan modifications from which the current Making Home Affordable Modification Program evolved. 

The FDIC has just announced their latest effort in this area.  They have put together a Foreclosure Prevention Toolkit.  This toolkit is designed to help people facing foreclosure save their homes.  It helps them to understand who to contact and what documents they will have to submit if they apply for a loan modification.  It also helps them to identify when companies contacting them and offering help to save their homes are doing nothing more than ripping them off.

Contents of FDIC’s Foreclosure Prevention Toolkit

 

What has the FDIC made available with this kit. The kit contains two brochures. 

The first talks about loan modification programs and how they work.

The second deals with Foreclosure Rescue Scams.

It also contains a copy of the spring 2009 edition of the FDIC Consumer News.  This has advice for people on how to avoid foreclosure rescue and loan modification schemes.  The last piece in the kit is a connection to FDIC’s Your Own Home Module in their Money Smart curriculum which has has more useful information.

Other Valuable Resources from FDIC

 

THE FDIC also has included valuable resource information on foreclosures for consumers, community organizations and financial institutions.

 

The FDIC is working with community organizations and banks to make the public aware that this toolkit and resource information is available.  It was not that long ago that when the government put together information like this, a person had to send away for it.  It took 3 to 4 weeks before they got it.  Not here.  Anyone can get the kit over the Internet.  The link to the website is www.fdic.gov/consumers/loans/prevention/index.html.  Of course the FDIC is also providing it in printed format.

 

The information that the FDIC is providing is more general in nature and does not go into detail on what to do to save a home from foreclosure.  You will have to look to other sources for that.  One place you can get this more detailed information is my EBook.  You can get more information on it by clicking Stop Foreclosure.

Much Success,

Mark Elkins