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Here are some resources for troubled homeowners to learn how to possibly avoid foreclosure and stay in their home.By way of background, in December 2008 Fannie Mae, which has an estimated 18 million home loans in it portfolio, made a policy change so that homeowners facing tough financial times no longer have to miss two to three months of payments before their mortgage provider may modify “unaffordable” loan terms. Freddie Mac, which has about 12 million loans in portfolio or in mortgage bond pools it guarantees, has a longer history of permitting loan servicers to negotiate early loan modifications under certain circumstance.First, check out Hope Now , an alliance between HUD approved counseling agents, servicers, investors and other mortgage market participants that provides free foreclosure prevention assistance.The National Association of Consumer Advocates (NACA) is also a nationwide organization of more than 1,500 members who represent and have represented hundreds of thousands of consumers victimized by fraudulent, abusive and predatory business practices. As an organization fully committed to promoting justice for consumers, NACA’s members and their clients are actively engaged in promoting a fair and open marketplace that forcefully protects the rights of consumers, particularly those of modest means.There are several companies that specialize in residential loan modifications for homeowners faced with foreclosure along with debt settlement for unsecured debt, but be very careful. Beware of mortgage foreclosure scams! The OCC Consumer Advisory gives several examples of scams to avoid.Click>here for several links to the California Department of Real Estate advice regarding foreclosures. Click>here specifically for the DRE advisory regarding “advance fee and loan modification companies” and know that if a “notice of default” has been filed by the lender, it is illegal for a “foreclosure consultant” to charge charge an advance fee!! If a notice of default has not been filed, companies may charge advanced fees, but they must file an Agreement Listing with the DRE – click>here for the list.