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Brochures

Foreclosure Information Workbook (en español)

Avoiding Loan Modification and Foreclosure Scams (en español)

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Tips and Steps to Resolve Mortgage Difficulties (Source US Housing and Urban Development) (en español)

1. Contact your lender as soon as you realize that you have a problem.

Don't ignore the problem. Lenders do not want your house. They have options to help borrowers through difficult financial times.

2. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the Internet.

Mortgage Payments Sending You Reeling? Here's What to Do? (FTC)

Federal Housing Administration

3. Contact a HUD-approved housing counselor.

The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance. Find a HUD-approved housing counselor near you or call 800.569.4287 or TTY 800.877.8339.

4. Avoid foreclosure prevention companies.

You don't need to pay fees for foreclosure prevention help -- use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three months’ mortgage payment) for information and services your lender or a HUD approved housing counselor will provide free if you contact them.

5. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

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Consumer Information

"Making Home Affordable"– find out if you are eligible to refinance or modify your loan under this program
"Making Home Affordable"– learn more about new program updates
Does Fannie Mae or Freddie Mac own your mortgage?
Does an FHA loan qualify under the Making Home Affordable program?
U. S. Dept. of Housing & Urban Development – find FREE counseling help and a list of HUD-certified counseling agencies
"Lawyers Helping Homeowners" – find legal help
Arizona Homebuyer Bill of Rights – available from the Arizona Department of Real Estate
Federal Reserve Bank – mortgage information and resource tools

Foreclosure Prevention – Information and Resources

Avoiding Loan Modification and Foreclosure Scams – tips and information from Attorney General Goddard
Fannie Mae - "Know Your Options"
Foreclosure Prevention Help-Line – call for FREE counseling help – 877.448.1211
Arizona Foreclosure Prevention Task Force
City of Phoenix Foreclosure Library
OCC Consumer Tips for Avoiding Foreclosure Scams
Federal Trade Commission – facts and tips on foreclosure “rescue” scams
Federal Trade Commission – money matters resources
Don’t Borrow Trouble – find resources and education materials in Pima County

If You Suspect a Scam, Contact:

Arizona Attorney General’s Office
Arizona Dept. of Financial Institutions
Better Business Bureau
Federal Trade Commission

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Videos

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