Introduction | Community Resources | Consumer Resources | Mitigation Toolkit
Step One: Assess the Foreclosure Situation
Step Two: Reach Troubled Homeowners
Step Three: Establish Post-Foreclosure Support SystemsStep Four: Stabilize Neighborhoods
Step Two
Step Three
Sadly, foreclosure is unavoidable for some borrowers, even when they have made contact with their lender/loan servicer early on in the process. Circumstances such as severe loss of income may prevent the mortgage from being modified to a payment that is affordable to the borrower.
Working collaboratively, housing counselors and other stakeholders from community-based organizations, financial institutions and local government agencies can encourage former homeowners to regain personal financial stability and contribute to the overall recovery of their community.
Contact the local field staff from the Community Affairs Office in your region for assistance with recommendations for implementing this guide.