Latest Video
Newsfeed display by CaRP
[CaRP] This appears to be an HTML webpage, not a feed.
Latest Blog Post
Unclaimed FundsThe Federal Deposit Insurance Corporation (FDIC) provides deposit insurance to financial institutions and depositors of these institutions. If a financial institution is closed, by a regulatory agency, the FDIC is appointed as Receiver and is responsible for the payment of insured deposits and the liquidation of the remaining assets. If you did not claim your funds previously you now have another opportunity to do so. Review the "How to claim your funds" section below and complete the attached form. Why does FDIC have unclaimed funds? When a failed financial institution (ban...
Newsfeed display by CaRP
News for Consumers
German Christmas market attack toll rises to five dead, over 200 injured - Th...21 Dec 2024 at 4:00am
German Christmas market attack toll rises to five dead, over 200 injured The Washington PostLive updates: Saudi man arrested following German market attack CNNSaudi Arabia warned Germany about suspect of Magdeburg i...
Despite missing deadline, Congress avoids government shutdown by passing spen...
20 Dec 2024 at 9:41pm
Despite missing deadline, Congress avoids government shutdown by passing spending bill without Trump's debt ceiling raise FortuneCongress passes funding bill as Trump sets the stage for his presidency CNNGovernment ...
Senate passes Social Security benefits boost for many public service retirees...
20 Dec 2024 at 10:13pm
Senate passes Social Security benefits boost for many public service retirees The Associated PressSenate passes Social Security benefits increase for some public workers CNBCSenate approves bill to expand Social Sec...
Government funding difficulties create gloom for federal workers before Chris...
20 Dec 2024 at 9:43pm
Government funding difficulties create gloom for federal workers before Christmas The Associated PressWhat?s at risk if Congress doesn?t fund the government by Friday night CNNGovernment Shutdown and Travel: What to...
Senate Democrats blast Supreme Court's 'ethical crisis' as investigation conc...
21 Dec 2024 at 4:00am
Senate Democrats blast Supreme Court's 'ethical crisis' as investigation concludes NBC NewsDurbin uses new report to accuse Justices Thomas and Alito of violating disclosure laws CNNJustice Clarence Thomas Did Not D...
Wisconsin shooter was new student at Christian school where her victims had d...
20 Dec 2024 at 8:22am
Wisconsin shooter was new student at Christian school where her victims had deep ties, official says PBS NewsHourWisconsin school shooting suspect Natalie Rupnow had a tumultuous family life, court documents show NB...
Newsfeed display by CaRP
Back
U.S Department of Housing and Urban Development
U.S Department of Housing and Urban Development
Tips for Avoiding Foreclosure
- Don't ignore the problem. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
- Contact your lender as soon as you realize that you have a problem. Lenders do not want your house. They have options to help borrowers through difficult financial times.
- Open and respond to all mail from your lender. The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.
- Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.
- Understand foreclosure prevention options. Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet here
- Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance. Find a HUD-approved housing counselor near you or call (800) 569-4287 or TTY (800) 877-8339.
- Prioritize your spending. After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.
- Use your assets. Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.
- Avoid foreclosure prevention companies. You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender or a HUD approved housing counselor will provide free if you contact them.
- Don't lose your house to foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.
04/29/08
Back