NCRC is a National HUD-Approved Housing Counseling Intermediary. You can also obtain housing counseling from a local counselor or from NCRC’s nationally certified housing counseling staff.
Keeping Your Home
DO CONTACT your mortgage lender when you first detect financial troubles caused by a lost job, divorce, illness or other problems. Lenders can best help homeowners pay their mortgage after one or two missed payments.
DON'T IGNORE mail or phone calls from your lender. Most lenders will start the legal process toward foreclosure if you don't respond.
DO CONTACT a local HUD-approved housing counseling agency, which will help you negotiate with your lender, work out a monthly budget plan and tell you what financial and legal options are available.
DO CONTACT a nonprofit consumer credit counseling agency to help you restructure credit payments. Many of the agencies' services are free or low-cost. Avoid credit-counseling agencies that require a large upfront fee or donation.
DON'T SIGN any document you did not read or understand.
DO BEWARE of unscrupulous lenders, especially those who deal with high-risk second mortgages. Some lenders engage in predatory practices, such as giving a mortgage loan to someone who doesn't have the income to repay it and charging excessive interest.
DO CONTACT the NHSF for assistance with a predatory loan.
SOURCE: The U.S. Department of Housing and Urban Development, the Federal Housing Administration, the Department of Veterans Affairs, the Department of Labor.
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