- The two most prevalent programs in the Arizona area involve funds directly from the Department of Housing and Urban Development and the Arizona Department of Housing. These financial assistance programs aim to kick-start the state's housing market and improve economic conditions across the board.
- These programs provide homeowners with small bailout assistance payments and assist with loan modifications and negotiations for forbearance agreements. However, homeowners must fall within eligibility guidelines for any available programs. Eligibility is based on situation, income and debt ratios according to the 2010 data available on the HUD and Arizona Department of Housing websites.
- A homeowner in distress should immediately contact his lender for options to solve any delinquency. Since waiting lists for assistance are lengthy in Arizona, not all homeowners will receive help in time to prevent foreclosure. Thus, being proactive is essential.
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