You worked hard, saved, followed your dream to buy a home. Now you need to put some effort into keeping it. Here are some steps you can take to find a solution that is better than foreclosure. Where you choose to begin may depend on your perception of the level of difficulty you face or the length of time you have been struggling to keep up with your mortgage payments. Whatever you do, beware of scams that include “counselors” who ask you to pay counseling fees. A new law now addresses that. And DO NOT under any circumstance, sign over to anyone, the deed to your house.
- Call and talk to a trusted real estate professional.
- Call your mortgage lender and explain your difficulty. You can request a restructuring or modification of your loan.
- Call the Housing and Urban Development (HUD) and request a free housing approved counselor.
- Ask your lender to approve a short sale.