Foreclosure Help

FORECLOSURE HELP-

Are you behind in your mortgage payments? Or, are you concerned about making your payments in the future? If so, it is important for you to act now. The longer you wait, the more difficult it will be to find a solution. If you cannot make your monthly payments, you need to negotiate with your lender to lower them. Mortgage payments can be lowered in two ways. First, your mortgage lender can change or “modify” your mortgage payments. Or, you may qualify for a new mortgage loan to “refinance” or pay off your current loan.  If your mortgage problem is a past interruption in your income, you may just need to negotiate to repay the payments you missed. 

• Beware of anyone that wants you to pay a fee for help with your mortgage. Beware of anyone who says they can “save” your home if you sign over your house to them.

• Contact your mortgage lender to see if you can work out a plan to make your mortgage loan affordable.

• Ask for help from a foreclosure counselor. There is no charge for the foreclosure counseling. The foreclosure counselor will work with you to see if your mortgage payments can be lowered.

• Check out the website for Making Home Affordable at: www.makinghomeaffordable.gov

      This is the federal program to help homeowners. One part of the program helps homeowners who are having trouble making their mortgage payments and need to change, or “modify” their mortgage loan. Another part of the program helps homeowners who want to take out a new mortgage loan, or “refinance” to take advantage of better mortgage terms.  

• Gather the information you will need when you speak to your mortgage lender or a housing counselor. This information includes:

-         information about your monthly gross income, including recent pay stubs

-         financial account statements

-         monthly mortgage statement

-         outstanding balances on all of your debts

-         minimum monthly payments on all of your debts

-         if you have had an increase in expenses or a decrease in your income (job loss, divorce, illness), write a letter describing the changes that have occurred to make your mortgage unaffordable

REFERRALS FOR HOUSING COUNSELORS

STATEWIDE

Consumer Credit Counseling Services of Nebraska    (877) 881-2227

http://www.cccsn.org/

RURAL NEBRASKA

High Plains Community Development Corp. (866) 432-4346

http://www.highplainscdc.com/

OMAHA 

Family Housing Advisory Services, Inc. (888) 573-0495

http://www.fhasinc.org/program-services/home-ownership/foreclosure-preventions.aspx