You've heard about HopeNow's foreclosure prevention efforts.

It's been widely reported that FHASecure loans can help you avoid foreclosure. And the best advice says your lender is your first line of defense if a mortgage payment default looms.

What you may not know is that there are a quite a few more resources you can tap should you face the prospect of losing your home.

Here's a quick rundown.

The National Community Reinvestment Coalition's (NCRC) National Homeownership Sustainability Fund helps financially struggling families with high-risk mortgages and senior citizens in trouble with reverse mortgages or other high-cost loans. The coalition also intervenes with lenders and servicers to help restructure mortgages to delay or stay foreclosure proceedings. NCRC recently proposed a Homeowners Emergency Loan Program (HELP Now) to boost foreclosure prevention efforts.

The Institute for Foreclosure Legal Assistance recognizes that legal issues arise during loan originations, foreclosure proceedings and during bankruptcy. Affiliates include AARP's Legal Council for the Elderly and California's Housing and Economic Rights Advocates (HERA), among others.

The Mortgage Bankers Association's Home Loan Learning Center offers a Foreclosure Prevention Resource Center.

Military personnel can seek relief from the Soldiers and Sailors Civil Relief Act. Soldiers and sailors should contact their unit leader or the legal assistance office at their installation or base to learn their alternatives.

Disaster relief can also persuade lenders to stay foreclosures or otherwise offer temporary foreclosure abeyance or mortgage payment holidays. The Federal Emergency Management Agency can let you know if you are eligible for such help. Likewise, check with your lender or your loan's underwriting overseer, Fannie Mae or Freddie Mac. Fannie and Freddie also offer foreclosure prevention tips and information on their Web sites.

Don't forget, at the first sign of trouble that portends a missed mortgage payment, before you miss a payment, contact your lender for do-overs -- workouts, restructuring, modifications, refinanced mortgages and short sales among other assistance.

The better known programs include:

FHASecure, a Federal Housing Administration (HUD) low-equity refinancing program. It's designed for subprime borrowers and others with exotic mortgages, often ARMs with "teaser" initial rates that later reset, causing a much higher mortgage payment. You must qualify with on-time payments, a good job, sufficient equity and a mortgage with a reset occurring between June 2005 and December 2008. Visit the Web site or call 800-CALL-FHA (225-5342) for more information.

Untaxed mortgage forgiveness debt. Not a program, but a federal tax break, the provision allows borrowers who use a short sale to avoid foreclosure to also avoid the related taxes. In a short sale the lender writes off or forgives a portion of the mortgage debt. Previously, the forgiven debt was often considered income and taxed as such. The Mortgage Forgiveness Debt Relief Act of 2007, effective through 2010, removes the federal tax bite from the equation, for those who qualify. See a professional tax professional for details based on your eligibility.

HopeNow is the big federally-supported private coalition that could aid you if you are already late on your mortgage payment. The group works with your lender for a modification or repayment plan. Contact HopeNow online at or call 1-888-995-HOPE (4673).

HUD-Approved Counseling Agencies. HopeNow and other programs mandate HUD-approved counseling standards which have been proven to help homeowners remain long-term homeowners. Agencies that help homeowners work with their lenders for relief, include the national NeighborWorks; Association of Community Organizations for Reform Now (ACORN); Catholic Charities USA; National Association for the Advancement of Colored People (NAACP); the National Council of LaRaza; Asian Real Estate Association of America (AREAA); and the National Association of Real Estate Brokers, among others. Call HUD at 800-569-4287 for the complete list or visit the HUD site.

Published: May 1, 2008

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Broderick Perkins parlayed a career in old-school journalism into a contemporary digital news service that really hits home. The award-winning consumer journalist, originally from Wilmington, DE, is founder, publisher and executive editor of the bootstrap DeadlineNews Group, a Silicon Valley-based editorial content and consulting service specializing in residential real estate, consumer news and related editorial consulting services. The DeadlineNews Group includes the website, DeadlineNews.com, offering real estate editorial content and consulting services, and its back shop, the Deadline Newsroom, an open house on news that really hits home. Perkins obtained his formal journalism education from University of Delaware and a journalism boot camp, the Institute of Journalism Education at the University of California-Berkeley. He went on to 20 years of service as a daily newspaper journalist at the Wilmington, DE News Journal and San Jose, CA Mercury News. Perkins covered housing on the San Jose Mercury News reporting team which earned a General News Reporting Pulitzer Prize in 1989 for coverage of the Loma Prieta earthquake. He has also produced real estate, consumer and small business content for the Wall Street Journal, Los Angeles Times, RealtyTimes.com, Nolo.com, Better Homes and Gardens, the National Association of Realtors, Homestore/Move and Intuit/Quicken among more than three dozen publications. In addition to managing the DeadlineNews Group, Perkins most recently served as chief editorial consultant for Nolo's Essential Guide To Buying Your First Home, Nolo, and writes real estate television scripts for RealtyTimes.com.