Most homeowners don’t have any problems with their mortgage servicer until they unintentionally start missing payments. If you’re worried about missing your mortgage payment or you have a foreclosure sale date, NeighborWorks Umpqua provides free foreclosure intervention counseling to help you keep your home. Work with a foreclosure intervention counselor and learn about the options available to you.
For nearly 30 years, NeighborWorks Umpqua has provided HUD-certified counselors to prevent foreclosure. Last year we helped over 30 homeowners in our community keep their homes. We work with lenders, state and national programs to find practical alternatives so that you can remain in your home.
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Falling Behind in Payments
Many times people are unaware that their property may get foreclosed on as falling behind is unplanned. One of the common reasons people get behind is mortgage servicer changes. Your mortgage servicer may transfer the mortgage servicing rights for your loan to another company over the course of homeownership. The servicer is required to send you notification when changes occur so that you can update the location where the payment is sent, but sometimes notices are missed in the mail. Learn more from the Consumer Financial Protection Bureau.
What Options are Available?
One of the options is forbearance. This is when your mortgage servicer or lender allows you to delay your mortgage payments for a period of time temporarily. It is important to know your rights. For example, some homeowners who receive forbearance under the CARES Act are not required to repay all delayed payments immediately once the forbearance period ends. Programs are often changing so it is important to contact a HUD-certified counselor to provide the latest and best information for your situation
Foreclosure prevention assistance should be free. If anyone asks you to pay for foreclosure services, stop! There are many scams out there that can be misleading. Protect yourself against loan modification scams. If you have questions, ask our certified experts at NeighborWorks Umpqua for free.
To learn the warning signs of a scam or to report a scam, visit “Making Home Affordable,” an official program of the U.S. Department of the Treasury & the U.S. Department of Housing and Urban Development.
There are steps you can take to keep your home. The sooner you connect with a coach and address getting behind in mortgage payments, the better.
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