You’ve probably heard that the UK and the US are both considering bailing out homeowners who are being threatened with foreclosure. While the entire process has not been approved by the governments, these loans will not be available to everyone when they do come out. There are some things that will keep people from qualifying for foreclosure bail out loans, like a second mortgage.
Even if you qualify, the funds put aside (at least in the United States) are minimal compared to the number of homeowners facing foreclosure. If you do find that you qualify for foreclosure bail out loans, you will want to be one of the first in line before the money runs out.