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

• The Mortgage Forgiveness Debt Relief Act of 2007
  In December 2007, the federal government enacted the Mortgage Forgiveness Debt Relief Act. The Act was meant to provide tax relief to taxpayers who had debt forgiven on their primary residence and to help struggling homeowners.    The Purpose of the Mortgage Forgiveness Debt Relief Act   The idea behind the law was to help homeowners avoid foreclosures by not taxing them … more
• Facing Money Problems? How to Avoid Foreclosure
  Unfortunately, when facing unemployment, unexpected medical expenses, funding the care of a family member, or other financial strains, you may find yourself struggling to pay the mortgages and worry about loosing your homes in foreclosure.  The good news is, you can avoid foreclosure and keep your home if you know the right steps to take.  The Federal Housing Administration, a … 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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