Frequently Asked Questions

• Are you at risk of foreclosure?
  If your financial situation has changed for the worse, you may be worried that you might be at risk of foreclosure.  Have your finances changed due to a mortgage payment increase, loss of … more
• How do creditors get paid when foreclosing on a house to satisfy unpaid debts?
  A foreclosure is where the creditor collects its lien by forcing a sale of the debtor's real property. The creditor receives the amount of the proceeds from the sale equal to the unpaid debt plus … more
• What happens when you miss your first mortgage payment?
  Foreclosure processes vary by state.  However, typically, after you miss your first month missed payment, your lender will contact you by letter or phone. A housing counselor may be able … more

Legal Articles

• A Plain Language Explanation of Your Options for Avoiding Foreclosure
  Whether you're in foreclosure now or worried about it in the future, understand that there may be practical ways you can avoid foreclosure.  Today, lenders are more willing than perhaps they have ever been to help you stay in your home and be able to afford your payments.  The most common methods used to bring loans current are described below:  Bring Your Loan Current - … more
• Can I use a loan modification program in order to save my home from foreclosure?
  With mortgage foreclosures at an all time high, major banks across the nation have begun offering loan modification programs for people who are in danger of losing their homes to foreclosure. While eligibility for loan modification programs differs from one bank to the next, the common goal of these programs is to restructure existing mortgage loans so that borrowers have lower … more

Legal Guides

• Mortgage Payments Sending You Reeling? Here’s What to Do (FTC Facts for Consumers)
• How To Avoid Foreclosure
  This guide, by the U.S. Department of Housing and Urban Development, provides valuable … more
• Providing Alternatives to Mortgage Foreclosure: A Report to Congress
• Foreclosure Rescue Scams: Another Potential Stress for Homeowners in Distress
• Knee Deep in Debt? (FTC Facts for Consumers)
  This Federal Trade Commission guide provides information about your options when you become … more

Top Related Consumer Finance and Foreclosure Topics

• Buying a Home
• Defaulted Loans and Workouts
• Financing a Home
• First-Time Home Buyers
• Home Buyers and Mortgages
• Home Seller Breach of Contract
• Other Real Estate and Homeowner Issues
• Private Mortgage Insurance
• Refinancing a Home
• Regulations Concerning Deposits, Mailing Materials, and Contacting the Copyright Office
• Remedies for Tax Problems

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