• Many available programs offer hoe for those needing assistance with their mortgage.Hipoteca 2 image by Nuka from Fotolia.com
  
  At some point, many homeowners might need assistance with their mortgages, whether because of the general economy, unemployment, divorce or any variety of reasons. There are assistance programs available to meet almost every need - from those to help single parents to those to help individuals suffering from unemployment. The most reliable programs are likely those that are administered by the government or by lending agencies.
  
  

Lender-Specific Programs

• Many mortgage lenders are now offering their own programs to assist homeowners. Fannie Mae, Freddie Mac, Bank of America, Wachovia and many other banks offer special assistance to those struggling with their mortgages. Calling your own lender is the fastest way to find out if they offer any aid.
  
  

Hope for Homeowners

• Hope for Homeowners is the Federal Housing Administration's program to assist homeowners. The program offers eligible homeowners the ability to refinance to FHA-insured mortgages, with no prepayment penalties, low interest rates and an erasure of subordinate liens. However, only owner-occupants are eligible for FHA mortgages, and they must also meet a variety of other criteria. Find more information at hud.gov/fha.
  
  

Making Home Affordable

• Making Home Affordable is a branch of federal programs for mortgage assistance, and includes negotiations for short sale, loan modification, help for the unemployed, refinancing programs and second lien options. The program also offers assistance to help homeowners avoid potential scams. Eligibility is quite stringent, however, as loans must be owned or guaranteed by Freddie Mac or Fannie Mae. Find more information at makinghomeaffordable.gov.
  
  

State and Local Assistance

• Many states and cities have designed their own homeowner assistance programs. Some, like Montana, have an assistance pool and fund from which eligible struggling homeowners may draw. Others, like New Jersey, offer refinance options for homeowners to help them get out from under bad loans. Contact your state housing agency for more information.