Is there any help for me?
I am getting lots of mail from people saying they can save my home. I called one of them and they want me to pay $2000 before they will help me. Is this legitimate?
I’m late on my mortgage payments. Will anyone refinance my home?
Do I need to move out?
Can my bank change the locks and kick me out?
Some one served me a court summons, what should I do?
How much time do I have before my home is sold?
My lender won’t stop calling. Should I talk to them?
I don’t want to lose my home. Is there any way to get the lender to lower my payment?
I’m over 62. I’ve heard about reverse mortgages. Can I get one if I am in foreclosure?
My home isn’t worth what I paid for it. I’d rather just move out. Are there any options that would not leave a foreclosure on my credit report?
My lender has suggested that I do a deed-in-lieu of foreclosure. How does that work?
I have heard of an FHA Secure loan. Would I be eligible for that?
I have lost my job and have no income except unemployment. Can I still save my home?
My interest rate is about to adjust and I won’t be able to make the payment once it does. Will my lender work with me?
What do I do if I have tried to work with my lender, but they are unwilling to do anything for me?
I’ve been trying to sell my house for almost a year with no offers. What am I doing wrong?
I am current on my payments on the home I live in. I have other properties that I have fallen behind on. Can HUD agencies help me?
Will my lender work with me even if I am current on my payments?
Is there any help for me?
Yes, There are multiple ways to keep your home. First, don’t ignore your lender; always keep in contact with them. Second, contact a H.U.D. Certified counselor.
I am getting lots of mail from people saying they can save my home. I called one of them and they want me to pay $2000 before they will help me. Is this legitimate?
Is it legitimate-yes. Is it worth it – NO WAY! You can get better help for FREE with a H.U.D. Certified counselor.
I’m late on my mortgage payments. Will anyone refinance my home?
Yes, but it depends on the amount of equity you have in your home and how many payments behind. * Caution – Typically, most refinance options will not give you a lower interest rate. FHA Secure may be an option that will lower your payment.
Do I need to move out?
The only time you must move out will be if your home was actually sold at auction or you make an agreement with the bank.
Can my bank change the locks and kick me out?
Only if your home was sold at auction.
Some one served me a court summons, what should I do?
You need to answer the summons. You should contact an attorney immediately. Not answering the summons will only make it easier for the bank to take your home. If you feel you cannot afford one, contact the Legal Aid Society (http://www.legalaidocba.org/) to see if you are eligible for one of their programs.
How much time do I have before my home is sold?
That depends, but from usually 6 to 9 months after your first missed payment.
My lender won’t stop calling. Should I talk to them?
Absolutely.
I don’t want to lose my home. Is there any way to get the lender to lower my payment?
Yes, You can work with a H.U.D. Certified counselor to get an affordable payment.
I’m over 62. I’ve heard about reverse mortgages. Can I get one if I am in foreclosure?
Yes – if you have enough equity in your home. Contact your local H.U.D. Certified counselor for more information.
My home isn’t worth what I paid for it. I’d rather just move out. Are there any options that would not leave a foreclosure on my credit report?
No, unless there is there is some type of hardship most lenders are not likely to help just because your home is “underwater” – meaning you owe more than its worth.
My lender has suggested that I do a deed-in-lieu of foreclosure. How does that work?
You sign over the house and they promise not to foreclose. However there are problems with that if you don’t work out a specific agreement with them, they could come back for the difference of what you owe and what they sold it for. Also they could word it to show a foreclosure on your credit report. Be very careful, we suggest if you think about going that route you should get a lawyer involved to protect your interests.
I have heard of an FHA Secure loan. Would I be eligible for that?
FHASecure is a refinancing option that gives homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent and regardless of reset status, the ability to refinance into a FHA-insured mortgage. With FHASecure, the lender will not automatically disqualify you because you are delinquent on your loan, and the lender may offer you a second mortgage to make up the difference between the value of your property and what you owe.
I have lost my job and have no income except unemployment. Can I still save my home?
Probably not, you might want to think about selling it.
My interest rate is about to adjust and I won’t be able to make the payment once it does. Will my lender work with me?
Yes, most lenders work with H.U.D. Certified counselors to make your payments affordable.
What do I do if I have tried to work with my lender, but they are unwilling to do anything for me?
Contact your local H.U.D. Certified counselor. Unfortunately most lenders don’t work with homeowners as seriously as when there is a H.U.D. Certified counselor working on your behalf.
I’ve been trying to sell my house for almost a year with no offers. What am I doing wrong?
You are asking too much for your house – lower the asking price. Most homeowners and a majority of banks have not grasped the current real estate market conditions.
I am current on my payments on the home I live in. I have other properties that I have fallen behind on. Can HUD agencies help me?
No, H.U.D. Certified counselors will only work on primary residences.
Will my lender work with me even if I am current on my payments?
Yes, if you can prove, because of a new hardship it will be impossible to make the payments. See your local H.U.D. Certified counselor for more details.
