Foreclosures

How to Avoid Foreclosure

Dream Home Finder

 THE Best Source of Information

This should be the very first place you go should you need help avoiding the foreclosure of your home. It’s the government’s Dept. of Housing and Urban Development Avoiding Foreclosure website.

If you are trying to avoid foreclosure, go to this government site first.  You’ll find how-to documentation, links to services, and a lot more. You’ll also find information on avoiding scams, and alternatives to foreclosure.

 

 Trouble Keeping Up With Your Mortgage Payments?

Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them?

Don’t ignore the letters from your lender
Contact your lender immediately
Contact a HUD-approved housing counseling agency
Toll FREE (800) 569-4287
TTY (800) 877-8339

 

Avoiding Foreclosure – When a Lender Won’t Work with You

You’ve done all your homework, explored workout options, talked to a housing counselor and tried to talk to your lender. But, the lender won’t work with you. What do you do now?

For an FHA-insured loan Your lender has to follow FHA servicing guidelines and regulations for FHA-insured loans. If your lender is not cooperative, contact FHA’s National Servicing Center toll free at (877) 622-8525, The Online FHA Resource Center website, or via email. Whether by phone, online or email, be prepared to provide the full name(s) of all persons listed on the mortgage loan and the full address of the property including city, state and zip. We may be able to help you more quickly if you can also provide your 13-digit FHA case number from the loan settlement statement.

For a VA-insured loan First, visit the VA Foreclosure Alternatives page. If you need assistance or have additional questions, talk to a Loan Service Representative.

For conventional loans If you have a conventional loan, first talk to a HUD-approved housing counselor at (800) 569-4287. They may be able to help you with your lender. You can also contact HOPE NOW or call the Homeowners Hope Hotline at (888) 995-HOPE to ask for assistance in working with your lender.

Reprinted from the HUD website (http://portal.hud.gov/hudportal/HUD?src=/topics/avoiding_foreclosure/workingwithlenders)

 

10 Tips for Avoiding Foreclosure

If you are unable to make your mortgage payment:

  • Don’t ignore the problem.
  • Contact your lender as soon as you realize that you have a problem.
  • Open and respond to all mail from your lender.
  • Know your mortgage rights.
  • Understand foreclosure prevention options.
  • Contact a HUD-approved housing counselor. (see above)
  • Prioritize your spending.
  • Use your assets.
  • Avoid foreclosure prevention companies.
  • Don’t lose your house to foreclosure recovery scams!

(based on Information from the US HUD.gov site (http://portal.hud.gov/hudportal/HUD?src=/topics/avoiding_foreclosure) )

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