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Is Your Family Facing Mortgage Fallout?

Keeping up with your mortgage can be difficult, especially in these uncertain times. Loosing a home means much more than losing a house. The U.S. Department of Housing and Urban Development (HUD) says, For most families, a home is not only a significant financial investment but also a source of pride. The loss of a home, due to unexpected events such as unemployment, can be financially and personally devastating.

It does not matter if you are a one income or a two income family, today’s rocky and uncertain economic times can make it difficult for you to keep up with the pace of rising costs. You can fall behind your mortgage payments for any number of reasons:

__ You or contributing family member looses a job
__ You or contributing family member retires
__ Illness, especially long term illness eats into your savings
__ Death of contributing family member
__ Divorce or separation causes economic loss.

Whatever the reasons, you should know that there is help for those faced with this financial crises. The U.S. Department of Housing and Urban Development site is filled with useful and undaunting information. You do not need a Master's or Ph.d degree to understand the advice offered.

What can you do to help yourself? Some tips from the HUD site and more:

These sites may be helpful:

ACORN Housing. National non-profit ACORN Housing provides free housing counseling to low and moderate income homebuyers. They have HUD-certified, Fannie Mae-approved housing counseling offices across the US, helping families to achieve homeownership. Visit their site, www.acornhousing.org

Department of Housing and Urban Development. Tips for Avoiding Foreclosure. Visit the HUD foreclosure site, www.hud.gov/foreclosure

NeighborWorks America. A national nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts. Visit their site, www.nw.org/network/foreclosure

The Federal Reserve. Foreclosure Resources for Consumers. Visit the Federal Reserve forclosure site, www.federalreserve.gov/pubs/foreclosure

The Homeownership Preservation Foundation. An independent nonprofit that provides HUD-approved counselors dedicated to helping homeowners. Visit 995 Hope for counseling guidance, www.995hope.org

When you are in your local library stop by the check out counter and pick up one of the free pamphlets titled Federal Citizen Information Center or visit the site here and click on the housing link, http://pueblo.gsa.gov/

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