If you are a homeowner facing foreclosure, immediate help is available.
Call 1-888-995-HOPE, find a foreclosure counselor near you, or contact your mortgage company directly.
In the meantime, beware of foreclosure help scams.
And Learn about your options under President Obama's Making Home Affordable Plan.
Nothing Is Worse Than Doing Nothing: NeighborWorks America's Ad Campaign
As part of our outreach efforts to struggling homeowners, NeighborWorks America launched a national public service awareness advertising campaign because nothing is worse than doing nothing.
If you are facing forclosure, act now. Here's important informaiton to help you:
- How to Avoid Foreclosure Rescue Scams [PDF]
- How to Avoid Foreclosure and Protect Home Equity [PDF]
- Loan Modification: Save Your Home and Your Credit [PDF]
- HUD Housing Counseling Agencies: find HUD-approved housing counseling agencies in your state and look for
"Mortgage Delinquency and Default Resolution Counseling" under services.
Foreclosure Scam Information
Top Three Foreclosure Scams To Avoid
Unfortunately scammers have no problem taking advantage of homeowners who are facing foreclosure. The Federal Trade Commission lists the top three foreclosure scams to be aware of as the housing crisis deepens.
- The foreclosure prevention specialist: The “specialist” really is a phony counselor who charges outrageous fees in exchange for making a few phone calls or completing some paperwork that a homeowner could easily do for himself. None of the actions results in saving the home. This scam gives homeowners a false sense of hope, delays them from seeking qualified help, and exposes their personal financial information to a fraudster.
- The lease/buy back: Homeowners are deceived into signing over the deed to their home to a scam artist who tells them they will be able to remain in the house as a renter and eventually buy it back. Usually, the terms of this scheme are so demanding that the buy-back becomes impossible, the homeowner gets evicted, and the “rescuer” walks off with most or all of the equity.
- The bait-and-switch: Homeowners think they are signing documents to bring the mortgage current. Instead, they are signing over the deed to their home. Homeowners usually don’t know they’ve been scammed until they get an eviction notice.
- See more from the FTC: Foreclosure Rescue Scams: Another Potential Stress for Homeowners
News Articles and Tips
- News Release: Federal Reserve Bank Has Compiled Some Tips to Help Protect Consumers From Foreclosure Scams
- NeighborWorks America's Tips on How to Avoid Foreclosure Rescue Scams
- Press Release: NeighborWorks America Works to Thwart Foreclosure Rescue Scams; Offers Tips to Avoid Being Scammed
- Swindlers Find Growing Market in Foreclosures
- Don't Become a Victim of These Mortgage Scams
- Consumer Watch - Foreclosure Scams
- Loan Modifications a Tricky Thicket for Those Seeking Homeowner Help
More Foreclosure Prevention Resources
President Obama's Making Home Affordable Plan
U.S. Department of Housing and Urban Development:
- Hope for Homeowners Fact Sheet
- Tips for Avoiding Foreclosure
- Keep Your Home, Know Your Loan
- Help Save My Home
- Housing Counseling Agencies
FDIC:
Federal Housing Administration:
Federal Trade Commission:
The Beehive: