Foreclosures can have a devastating effect on families and communities. There are still too many homeowners struggling to make their mortgage payments or facing the prospect of losing their homes. About one in 13 homeowners nationwide have fallen behind on his or her mortgage payments, putting them at a higher risk of foreclosure. This can be an incredibly stressful time for the people who are having to deal with things like this. But sometimes it doesn’t have to be. Although no one wants to lose their home, there are people out there who are looking for properties to buy that are going through the Foreclosures process. They are people’s knight in shining armor. They are there to help the homeowner in this difficult time.
Some people may go their entire lives without ever having to face the struggle of foreclosure. If you are reading this, I hope that you are one of those people. But if you are or maybe it isn’t you, it is someone you know and love, I hope you are not going through it alone. I hope you can reach out to people like Simon Conn to help you, or have a support network from your family. It is a sad but true fact that most people who have foreclosure knocking at their door have no idea where to turn and they have no idea that there is actually help available to them.
And what is worse – many of these people fall victim to scams that not only will not help them but will make their situation even more unstable.
Making Home Affordable is a free government resource that can make paying the mortgage easier for homeowners who are struggling with their mortgage payments. With free help from HUD-approved housing experts, homeowners can avoid being scammed by those demanding payment for assistance.
When it comes to upfront fees, MHA tells homeowners, “Don’t Pay, Walk Away.”
o Through the federal Making Home Affordable program, many homeowners have received much-needed help to reduce their monthly payments, get mortgage relief, and avoid foreclosure.
o Telephone scammers often request payment by wire transfer services similar to MoneyGram, or completion of paperwork containing your Social Security Number. Do not make any mortgage payments by wire transfer, or provide any personal information, in response to these calls. If you receive unsolicited calls, always check with your mortgage company using the phone number on your mortgage statement, or call 888-995-HOPE™ (4673) to check its legitimacy.
o Beware of telephone calls urging you to take advantage of the Making Home Affordable Program. Beware of anyone seeking to charge you in advance for mortgage modification services. In most cases, charging fees in advance of a mortgage modification is illegal.
o Paying a third party to assist with your application may not improve your likelihood of receiving a mortgage modification. Beware of individuals or companies that ask you for payment, tout their success rate, or claim to be Making Home Affordable (MHA) or Home Affordable Modification (HAMP) experts.
The Making Home Affordable (MHA) housing counseling experts at 888-995-HOPE™ (4673) are available around-the-clock (24 hours a day, 7 days a week), in over 170 languages, and at no cost. They will help homeowners understand their options and design a plan to suit their individual situation.
Homeowners who are struggling to make mortgage payments can call 888-995-HOPE™ (4673) or visit MakingHomeAffordable.gov for free resources and information to help them deal with their mortgage problems and avoid foreclosure.
Don’t become a victim. Make sure you always do your research before you start anything. This is your home; you want to make sure that you’ve done everything you can to protect it. If you find that you can’t keep up with your mortgage payments, you always have the option of remortgaging your home. There are a variety of legitimate mortgage lenders and bankers that can help you to do this. Your original lender may even have an online remortgage calculator that could help you to find the best deal for your mortgage, thus helping you to avoid foreclosure. It does help to speak with your lenders and research into alternative options.