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Common Questions About Foreclosure

Does HUD have any programs that can help me?
FHASecure, FHA's refinancing product, has helped hundreds of thousands of people who’ve had difficulty making their mortgage payments. The Hope for Homeowners program will continue to aid struggling families trapped in mortgages they currently cannot afford. Under the program, certain borrowers facing difficulty making mortgage payments can refinance into affordable FHA-insured mortgages.

HUD's Federal Housing Administration (FHA) has been helping families refinance into safer, more affordable mortgages for nearly 75 years. Find out if you qualify for assistance through FHASecure by:

 - Contacting the HOPE NOW Alliance at (888) 995-HOPE; or
 - Calling FHA at (800) CALL-FHA.

Is it free/how much will it cost?
HUD approves housing counseling agencies throughout the country who give advice free or at low cost. You can search online for a counseling agency near you, or call HUD's interactive voice response system at (800) 569-4287.

Can I keep my home?
The best way to keep your home is to ACT NOW!! Contact your lender and follow these steps for help in keeping your home.

What are my options?
Lenders want to help borrowers keep their homes. Foreclosure is expensive for lenders, mortgage insurers and investors. There are a number of options that may work for you.

What do I do with all the mail from my lender?
Open it! 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 notices of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

What is the first thing I should do?
Don't ignore it because the problem won't go away! Pick up the phone and talk to your lender. Most of us are embarrassed to discuss our money problems with others or believe that if lenders know we are in trouble, they will rush to collection or foreclosure. In reality, lenders want to help borrowers keep their homes and have workout options to help you keep your home. Foreclosure is expensive for lenders, mortgage insurers and investors.

Who is my servicer? How can I contact them? What do I say and what do I need?
If you're having trouble finding a phone number for your lender, check:

 - Your monthly mortgage billing statement
 - Your payment coupon book
 - The website for your lender

When you call your lender, it will be helpful to have the following information ready:

 - Your loan account number
 - A brief explanation of your circumstances
 - Recent income documents (such as pay stubs; benefit statements from Social Security, disability, unemployment, retirement, or public assistance. If you are self-employed, have your tax returns or a year-to-date profit and loss statement available for reference.)
 - List of household expenses

Who can I talk to if I have questions?
Talk to a HUD-approved housing counseling agency, or to your local HUD office.

Are there resources in my state that can help me?
Resources will vary state to state, so you will need to check for local resources or talk to a HUD-approved housing counseling agency.