Good information helps save things.  Good medical information can help saves lives.  As an Indiana bankruptcy lawyer, I've found the same principle holds true with saving homes.

I'm going to offer information in this Indiana bankruptcy blog post on three programs, each of which can be of help in saving homes from foreclosure.

Foundation Source allows foundations to provide no-interest loans to homeowners who are threatened with foreclosure.  Under the program, private family foundations, in addition to providing hardship assistance for medical costs, can now pay up to $25,000 directly to a lender to save a home from foreclosure.

The Indiana Foreclosure Prevention Networkis a group of lenders (FIfth Third Bank is one of several of these) who, working together with Momentive consumer counseling agency, sponsors a hotline that homeowners can call to ask for help and advice.  The network also helps banks in their efforts.  Fifth Third has created a mobile classroom in the form of a bus staffed by counselors and bankers that travels to different cities to meet with people.  Homeowners behind on their payments receive notice of when the bus will be in their area.

Of course, my work as a bankruptcy attorney in Indiana often deals with helping homeowners avoid foreclosure.  First of all, if a foreclosure is imminent, you can put a stop to the proceedings immediately by filing bankruptcy, because you will trigger an automatic stay. If you have enough income to file a Chapter 13 bankruptcy, you'll be able to spread out the payments of the arrearage (the payments you missed), all late fees, and any foreclosure fees that your lender might have already incurred. Also, if there is a second mortgage on the property, there is a good chance that debt can be discharged (totally written off) in the bankruptcy.

As I said, having the right Indiana bankruptcy information can be key to saving your home from foreclosure!