With the cost of foreclosing on a property running $40,000 or more, it's no surprise that lenders would rather continue receiving loan payments from borrowers than resort to taking their homes away. But homeowners get into trouble on their mortgages for many reasons, which can make helping them through difficult times complex. Some borrowers may simply be overwhelmed when an adjustable-rate mortgage resets to a higher rate, and monthly payments become unmanageable. Others may be coping with the loss of a job, unexpected medical or home repair bills, rising utility bills or a substance abuse problem. Chances are, a lender's collections department can't offer much advice or assistance to borrowers who are coping with issues that aren't related to the terms of their loan. Even credit counselors aren't the best source of advice for problems that are more than just financial. But there are hundreds of nonprofits around the nation that are qualified and equipped to help people work t...
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