Avoiding Foreclosure

If you are having difficulty paying your mortgage on time or know you will have difficulty in the near future, call your lender! It's important to act now before you get so far behind in your payments you end up facing foreclosure.

There are options available that may allow you to save your home. But the longer you wait the fewer options are available. Remember, your biggest ally if you encounter difficulty paying your mortgage on time is often your lender.

Your lender – also called the servicer – has a variety of options to help you stay in or sell your home. These options include:

• The President's Making Home Affordable Plan
• Refinance
• Forbearance
• Repayment plans
• Loan modifications

You can find your lender's contact information on your mortgage statement or coupon book. But, your lender can only help you if you contact them.

If your lender has called or mailed you documents, do not ignore them. Your lender is trying to help you. When you contact your lender early, there is a greater chance your lender can help you stay in your home, or at least help you avoid foreclosure while you try to sell your home.

Are You Facing Foreclosure?

There are resources available to help you protect your home.

• Attend a Foreclosure Prevention Workshop in Your Area
• Where to Get Help
• Working With Your Lender
• Identifying a Credit Counselor
• Special Circumstances to Stop Foreclosure
• How to Rebuild After a Foreclosure 

Help for Homeowners

Please use the self-assessment tools provided on MakingHomeAffordable.gov to see if you are among the millions of homeowners who may be able to benefit from Making Home Affordable.

• Your next step: Preparing for the conversation with your lender.