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Foreclosure

Learn some of the basics about avoiding and handling foreclosures.

, the  or forbearance. 

If you're having trouble making payments because of the coronavirus pandemic, your loan servicer must:

  • Kết quả xổ số minh ngọc hôm nayDefer or reduce your payments for six months if you contact your loan servicer to make arrangements

  • Give you another six months of mortgage relief at your request

  • Offer options for how you can make up the deferred or reduced payments. They will discuss these options with you at the end of your forbearance period.

Kết quả xổ số minh ngọc hôm nayMake sure you know your rights before you contact your loan servicer. Read this . 

If you don't know whether your mortgage is federally-backed, . You can also check the and the to see if either one owns or backs your mortgage. Together, Fannie Mae and Freddie Mac own nearly half of all mortgages in the U.S. 

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Step Two: Work With the MHA Program

You can get help through the , which provides free counselors for advice and assistance with keeping you in your home or getting out safely. Visit the MHA website to read about the options and what you’ll need to prepare.

MHA has a hotline you can call anytime: 1-888-995-HOPE (1-888-995-4673) and TTY users should call 1-877-304-9709Kết quả xổ số minh ngọc hôm nay.  You can also .

might have a foreclosure avoidance program as well.

If you have an , call the FHA National Servicing Center at 1-877-622-8525.

Beware of mortgage relief scams.  One sign of a scam is when they ask for a fee in advance.  Learn how to  and report housing scams.

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  • If the scam involves bankruptcy, contact a .
  • How to Protect Yourself from Foreclosure Scams

    Get reliable foreclosure help and counseling through the government's . Or near you.  and find phone numbers to call for help.

    Do

    Kết quả xổ số minh ngọc hôm nayLearn about your options. Also be aware of these tricks that scammers use:

    • Offering to act as a go-between with your lender or to negotiate with your lender to refinance your loan
    • Advising you that they can stop foreclosure by .
    • Encouraging you to sign fake foreclosure rescue or mortgage documents
    • Claiming that they can perform a to help you hold onto your home
    • Offering you

    Don’t

    • Don’t fall for .
    • Don’t send mortgage payments to any company that is not your loan servicer.
    • Don’t sign any documents without having them reviewed by a lawyer or independent expert.
    • Don’t stop making mortgage payments.
    • Don’t forget that .
    • Don’t give anyone your personal information, Social Security number, or bank information. Only share this information if you've confirmed that the company is legitimate.  
    is your first place to look for an introduction to mortgage refinancing, including useful worksheets, a glossary of terms used in the industry, and more to help you decide if mortgage refinancing is right for you.
  • What type of mortgage should you choose? Get information about mortgage types and the settlement process in .  
  • Veterans may be eligible for refinancing their VA mortgage using .
  • Making Home Affordable Program

    • The offered opportunities to modify or refinance your mortgages, but as of December 30, 2016, no new requests for assistance under any MHA program will be accepted.
    • However, the MHA program still offers free counseling and help for homeowners who are having difficulty communicating with mortgage companies or lenders about their needs for mortgage relief. or call 888-995-HOPE (4673).
    • The (HAFA) is an alternative solution for homeowners who are interested in a short sale or deed-in-lieu to avoid foreclosure.

    Mortgage Company Transferring Your Loan to Another Company

    • Federal Reserve rules require mortgage companies to notify homeowners when their loans are transferred to another company. The company that takes over your loan must send you a notice within 30 days of acquiring it. Even with a new loan owner, the company that "services" or handles your loan might not change and you might continue to send your payments to the same address. If that loan servicer changes, you will receive a separate notice.

    • Kết quả xổ số minh ngọc hôm nayFor more information about servicing companies, read the Federal Trade Commission's publication

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    Last Updated: November 23, 2020

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