Whether you are currently in foreclosure or worried about it
in the future, we have information that can help you stay in your home.
Foreclosure
Counselors
You may be eligible for a special
loan modification or refinance, to reduce your monthly payments and help you
keep your home. Foreclosure prevention counseling services are provided free of
charge by nonprofit housing counseling agencies working in partnership with the
Federal Government. There is no need to pay a private company for these
services. To find a counseling agency in your area that will provide you with
free foreclosure prevention services click here.
Tips to Prevent
Foreclosure
Open and respond to all potentially time-sensitive mail from
your lender- they may give you more options. Find your original mortgage loan
documents and review them. Review and write down all income and expenses - keep
your receipts and record of payments together in one file. Be able to briefly
summarize your financial circumstance. Read more.
Foreclosure Facts
Everyone loses in a foreclosure - the borrower, the mortgage
company, the investors and the community. When you are unable to afford to stay
in your home, there may be more options than to go through a foreclosure or
walk away. Read more.
Foreclosure Process
It is never too early to seek out information and tips to
prevent foreclosure.
The sooner you contact your lender or a housing counselor, the more options you
may have. Learn more about the Michigan
foreclosure process.
Frequently Asked
Questions
Answers to your most
frequently asked questions about the foreclosure process are a click away.
Avoid Foreclosure
Rescue Scams
Foreclosure notices appear in newspapers and court records.
Some people may try to take advantage of you by contacting you with special
offers, giving you false information or charging you for services. Most
HUD-approved housing counselors provide free or low-cost counseling. Do
not agree to work with a counselor who collects a fee BEFORE providing any services
or who accepts payment only by cashier's check or wire transfer. Read more.