If you're having trouble making payments because of the coronavirus pandemic, your loan servicer must:
Đang chơi bàiDefer or reduce your payments for six months if you contact your loan servicer to make arrangements
Đang chơi bàiGive 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.
Đang chơi bàiMake sure you know your rights before you contact your loan servicer. Read this .
Đang chơi bàiIf 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.Đang chơi bài .
Step Two: Work With the MHA Program
Đang chơi bàiYou 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.
Đang chơi bài 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..
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.
Đang chơi bàiLearn 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 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.
Your other immediate need is your children. If you’re staying in a new area, get them enrolled in school as soon as possible. And check your city or state department of social services if you need additional support such as SNAP benefits (food stamps).
Moving forward both financially and emotionally will take time. To help you organize those next steps, use
- The - These worksheets will help you learn to manage stress, consider housing options, and explain money to kids.
- - Learn:
- Ways to gracefully exit homeownership
- How foreclosure affects your taxes
- To recognize and avoid rental scams
- Strategies for rebuilding your credit
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
Đang chơi bàiFederal 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.
For more information about servicing companies, read the Federal Trade Commission's publication
Do you have a question?
Ask a real person any government-related question for free. They'll get you the answer or let you know where to find it.
Đang chơi bàiLast Updated: November 23, 2020