Equifax has many resources for homeowners facing foreclosure, which can help avoid nasty scams

Mortgage foreclosure scams are up to nearly 60 percent this year and are still growing, according to the Homeownership Preservation Foundation (HPF), an independent national nonprofit which rescues homeowners from

foreclosures. However, not every program out there is a scam waiting to happen. Ilyce Glink, real estate expert for Equifax, shares a list of helpful, legitimate government programs designed to help homeowners avoid foreclosure in her post, ”

Avoid Foreclosure Scams with These Official Resources.”

Making Home Affordable (MHA) programs

HARP– The Home Affordable Refinance Program is intended for underwater mortgage homeowners who wish to refinance their home based on the current value and who are current on their payments.

HAMP– The Home Affordable Modification Program is designed for employed homeowners who are struggling to meet their mortgage payments. For eligibility, your mortgage payment must be more than 31 percent of monthly gross (pre-tax) income, and you must be a delinquent or in danger of falling behind mortgage payments.

UP- Apply for the Home Affordable Unemployment Program if you are unemployed. This will reduce your mortgage payments to 31 percent of you income or suspend them for 12 months.

PRA- Designed to help homeowners who do not own their loan, MHA’s Principal Reduction Alternative is for owners whose  homes are worth less than what they’re paying for.

The Making Home Affordable programs are just one set of programs designed to help homeowners avoid foreclosure. For more information on your credit, home insurance and

managing money, explore the Equifax Finance Blog.