A controversial federal legislation change might help stop foreclosures in Houston if it makes it through the House, Senate and President's veto pen sometime in 2008. The new law would make it a great deal easier for homeowners to hang onto their properties, but waiting around for its passage might not be in Houston homeowners' best interest at the moment.

The federal government has several bills in play that are designed to help alleviate some of the pressures of the subprime lending crisis. Perhaps the most beneficial one for homeowners that want to stop foreclosures in Houston involves giving bankruptcy judges more power. This particular law, if passed, would enable judges to restructure and alter the terms of individual mortgages.

For Houston homeowners facing foreclosure, this proposed law could prove to be very good news if it passes. Under the rules change, judges would be able, within reason, to do things such as adjust interest rates, mortgage bottom lines and even the overall terms of a deal to help a homeowner avoid foreclosure. All of this would take part through the federal bankruptcy process.

While the proposed law would help stop foreclosures in Houston and elsewhere, it is still pending. Waiting around for its passage is probably not the best idea if a homeowner is presently facing foreclosure. Instead, Houston homeowners nearing or in default might want to take different measures. Options to stop foreclosures in Houston include:

?Negotiating with the lender. It is possible to stop foreclosures in Houston by working directly with a lender. In most cases, they are willing to come to terms with borrowers to stop foreclosure.

?Selling the home. Another option homeowners have involves selling a home outright or at short sale. This can stop foreclosure and help protect credit in the process.

?Refinancing. In some cases, refinancing can help stop foreclosure. It is wise to tread carefully through this process, however.

The federal government is in the process of trying to help stop foreclosures in Houston and elsewhere. If proposed legislation passes, bankruptcy judges will have it within their power to help homeowners retain their property. Waiting for the law to pass, however, might not be the best idea at the present.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

Stop Foreclosure by Selling Your Home
Stop foreclosure by selling your home or ruin your credit for the next 7 years...which option would you take if "push comes to shove?", i.e. you have to make a decision either way. To stop foreclosure by selling your home may appear to be an extreme option right now, however, there comes a point ... more...

How to Stop Foreclosure - Act Immediately
If you want to know how to stop foreclosure, the answer is to act immediately. That is the solution that many people overlook when they want to know how to stop foreclosure. Stopping foreclosure is not as difficult or as scary as some people think. Of course, homeowners that are facing foreclosure ... more...

How You Can Stop Foreclosure Fast Even If You Have Little Equity
Foreclosure. Certainly one of the most stressful events anyone could possibly have to face and endure. Once you are facing foreclosure, time is against you and you need options that will stop foreclosure fast. Recognize that you're not alone, take a deep breath, and realize that you can stop ... more...

Stop Foreclosure Proceedings - How To Stop Foreclosure On Your Home Now
Are you or someone you know trying to stop foreclosure? If you own you property or properties and you're headed down the foreclosure route, you need to stop foreclosure on the property that you own before it becomes a real problem that could affect many other parts of your life. It's not uncommon ... more...