• Avoid a foreclosure by seeking help from HUDsale image by petar Ishmeriev from Fotolia.com
  
  The U.S. Department of Housing and Urban Development (HUD) has supported the rights of home buyers and owners since its inception in 1965. HUD's mortgage and insurance program requirements, which buyers and properties must meet, help manage the risk of future default and foreclosure. Foreclosure is the legal process that mortgage lenders use to repossess a property when a borrower can no longer fulfill his mortgage obligations. HUD offers programs for borrowers at risk of losing their home to foreclosure.
  
  

HUD-approved Local Programs

• State and local government and organizations may sponsor programs that provide assistance to homeowners at risk of foreclosure. HUD lists approved programs on its website by state. The programs include free and low-cost legal assistance, housing counseling and education programs. The Housing Education Program offers free education workshops and seminars and provides publications for homeowners on such topics as money management, foreclosure rescue scams, renter's rights in foreclosure and early delinquency intervention, according to the Housing Education Program of San Francisco. HUD-approved housing counseling agencies are located in every state. The agencies' counselors provide homeowners with options to prevent foreclosure.
  
  

Making Home Affordable

• The Obama administration's Making Home Affordable program gives qualified homeowners the opportunity to modify their mortgages through the Home Affordable Modification Program (HAMP) or refinance their mortgages with a Federal Housing Administration-insured loan to make monthly payments more affordable, according to the program's official website. HUD-approved counselors are qualified to educate homeowners about their options under the Making Home Affordable program.
  
  

HOPE for Homeowners

• The HOPE for Homeowners program helps struggling homeowners by paying existing mortgages held by borrowers at risk of default or foreclosure. The original mortgage is replaced by a new FHA-insured loan. The program is voluntary, and both borrower and lender must agree to the refinancing. HOPE for Homeowners is temporary and ends Sept. 30, 2011, according to HUD. Borrowers should contact a HUD-approved housing counselor, their current lender or an FHA-approved lender to find out if they are eligible for HOPE.