Tips for homeowners facing foreclosure

Tips for homeowners facing foreclosure

Free help is available for homeowners facing foreclosure. You should never have to pay for “loan modification” or “foreclosure assistance” services, say consumer protection experts.

More tips on protecting yourself from scams when facing foreclosure:

Call your bank or a counselor at the toll-free national HOPE Hotline, 888-995-HOPE, as soon as you realize default is imminent. If you feel like your bank isn’t being responsive, call a hotline counselor who oftentimes can expedite your case.

Do not ignore calls or letters from your bank. Beware of companies guaranteeing results. Mortgages are complex. Every situation is different.

Do not pay for loan-mitigation services. If you still want to pay someone, do not pay upfront. In most states, that is illegal.

Continue to pay your mortgage to your bank unless told otherwise by your bank.

Be wary of companies that initiate contact. Foreclosure notices are public records and scam artists target homeowners in distress.

Not comfortable sharing your issues on the phone? Ask the hotline for a local office to visit or go to for a list of free counselors by state and ZIP code.

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