counselors to advise and assist you in keeping your home or getting you out safely. For more information, or to find an approved counselor in your area, call the hotline at (888) 995- HOPE (4673). TTY users should call (877) 304-9709. The Home Affordable Foreclosure Alternatives (HAFA) program is an alternative solution for homeowners who are interested in a short sale or deed in lieu to avoid foreclosure. If you have an FHA loan, call the FHA National Servicing Center at (877) 622-8525. Your state’s housing agency might have a foreclosure avoidance program, as well. POINTS TO REMEMBER: ; ; Youmight be able to stop foreclosure by reinstating your loan — catching up on any payments you’ve missed, plus applicable fees and costs you’ve incurred, to get your scheduled loan payments back on schedule. ; ; If you’re financially able, you can avoid foreclosure by redeeming your property —paying off the full balance of your loan plus costs related to your late payments and foreclosure. ; ; Either of these methods will require contacting your lender to make arrangements and obtain the amount you need to pay. Plan ahead, and don’t wait until the last minute. ; ; Filing for bankruptcy — which is a last resort — has long-lasting effects on your credit and ability to purchase another house. Consult an attorney before taking this drastic step.
48
Powered by FlippingBook