State offices of the U. S. Department of Housing and Urban Development, the HOPE NOW alliance and the state legal services can help you stop Alaska home foreclosure.
If you need to stop an Alaska home foreclosure, state programs may be the answer. The U. S. Department of Housing and Urban Development (HUD) offers programs and help through state offices to help you avoid foreclosure. Additionally, you may qualify for money the state has from a national foreclosure settlement with major mortgage lenders.
State help is available through the federal Making Home Affordable Program (MHA) programs, the HOPE NOW alliance and the Alaska legal services. MHA programs can help you reduce your mortgage payments or your total mortgage principal. Additionally, if you can no longer afford your home loan, MHA programs will help you sell your home or return it to the lender.
What is your home's market value? Find out here.
Modification is one of the most common ways to stop home foreclosure. This is a good solution if you find that you can no longer afford your mortgage payments. Your lender may lower your interest rate to lower your mortgage payment, extend your repayment period. Lenders are more willing to work with you if you contact the as soon as you need help.
Instead of using Alaska home foreclosure state programs, you may be able to sell your home in pre-foreclosure. If you your house value has dropped, and you own more than it is worth, you may be able to do a short sale. In a short sale, your lender agrees to accept a payoff that is less than you owe on the house.
No matter what type of program you choose, most options are better on your credit than foreclosure. Alaska offers a number of community programs that can teach you how to work with lenders and reduce the amount you owe on your home. If you decide to sell your home, find a real estate agent who specializes in pre-foreclosure sales. Reply! is a good source to research your home value and find an agent in your area.