As we continue to experience a bumpy economic landscape, the US has recently witnessed a rise in foreclosure filings.
Depending on how challenging your financial situation is, it can be confusing to understand the available options that could help you keep in your home.
You are not alone. Homeowners facing financial challenges are more successful in figuring out their next steps when they fully understand their options.
Nonprofit housing counseling agencies like 995 Hope can provide guidance on how to manage your finances and housing situation. We can also help you understand your options and assist you in communicating with your lender.
Our HUD-certified counselors begin the conversation talking through where you are today, and what you need to accomplish your goals. We’re ready to guide you through the process, ensuring you’re equipped with the necessary knowledge to protect your home and financial well-being.
Alternatives to Foreclosure
There are other options for you to consider. Read about your options and learn about how trusted counselors guide you through a process to assess your financial situation, address your specific situation, and create an action plan as an alternative to foreclosure.
Managing your financial situation can be a challenging task when you manage it alone. If you anticipate having trouble making your house payment, our trusted counselors are ready to talk. Learn about the steps to take to get back on track with our foreclosure prevention counseling.
Watch for Scams
Be cautious of companies that claim they can stop your foreclosure immediately for a fee. Many of these companies are scams and may not provide the help you need.
If it sounds too good to be true, it probably is. Watch out for any company that offers a “quick fix” as relief programs come to an end. No organization can promise or guarantee modification of a loan or prevention of foreclosure other than your servicer. Read about what to look for when it comes to scams.
Understand your Rights
Familiarize yourself with the foreclosure laws in your state. Knowing your rights and the legal process can help you make informed decisions and possibly buy you more time. Knowing your rights and protections as a homeowner reduces stress and helps you manage through challenging situations. By being aware of the legal procedures and timelines specific to your state, you can make informed decisions and take appropriate actions in a timely manner.
Our team stands ready to serve homeowners under financial stress through the HOPE™ Hotline. You can have confidence of the trusted information that puts you on the path to sustainable housing financial health.
Working one-on-one with homeowners and renters, you receive free, confidential and comprehensive financial and foreclosure prevention education through our national Homeowner’s HOPE™ hotline – 1-888-995-HOPE™ (4673). We’re ready to speak with you during extended, convenient hours that meet your needs. We’re ready to assist consumers in more than 200 languages.
Get options and a comprehensive approach to financial well-being, which includes advice on budgeting, homeownership vs. renting, loan products and support with long-term financial stability.