Foreclosure rescue refers to funds received either through loan modification or from a government grant that enable a homeowner to prevent foreclosure.
Legitimate foreclosure is distinct from a foreclosure rescue scheme in that it is clean and legal, and it gives the homeowner a realistic opportunity to regain his/her ability to get out of the hole and make regular timely payments.
In 2009, President Barack Obama unveiled a plan to provide foreclosure rescue to homeowners. This included the ability to modify loans, lower interest rates, and to help homeowners before they defaulted.[1]