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Making Homes Affordable – Foreclosure Prevention Assistance
Do you own your own home? Many people are so excited by the purchase of a new home. Or maybe you are someone who has owned your home for a long time. Either way – it is a very satisfying and exciting experience for most people. However, anything can happen at any time, and you could be faced with a decision that you never thought you would be faced with.
June is National Home Ownership Month, but many Americans are still struggling to make their mortgage payments. About 1 in 17 homeowners nationwide have fallen behind on their mortgage payments, putting them at a higher risk of foreclosure.
That is why the Making Home Affordable (MHA) program provides free resources and assistance for distressed homeowners who are working hard at juggling expenses to makes ends meet. There are more options available for struggling homeowners today than ever before, and MHA works to provide them with the mortgage solution that is right for them.
Unfortunately, foreclosure rescue and mortgage modification scams are a growing problem. Scammers will make promises that they can't keep, such as guaranteeing to “save” your home or lower your mortgage payments, usually for a fee, and sometimes even claiming that they have direct contact with your mortgage company.
These scams could cost homeowners thousands of dollars – or even their homes. If you or someone you know needs help with their mortgage, please keep these things in mind:
- Through the federal Making Home Affordable program, many homeowners have received much-needed help to reduce their monthly payments, get mortgage relief, and avoid foreclosure.
- Telephone scammers often request payment by wire transfer services similar to MoneyGram, or completion of paperwork containing your Social Security Number. Do not make any mortgage payments by wire transfer, or provide any personal information, in response to these calls. If you receive unsolicited calls, always check with your mortgage company using the phone number on your mortgage statement, or call 888-995-HOPE™ (4673) to check its legitimacy.
- Beware of telephone calls urging you to take advantage of the Making Home Affordable Program. Beware of anyone seeking to charge you in advance for mortgage modification services. In most cases, charging fees in advance of a mortgage modification is illegal.
- Paying a third party to assist with your application may not improve your likelihood of receiving a mortgage modification. Beware of individuals or companies that ask you for payment, tout their success rate, or claim to be Making Home Affordable (MHA) or Home Affordable Modification (HAMP) experts.
- The Making Home Affordable (MHA) housing counseling experts at 888-995-HOPE™ (4673) are available around-the-clock (24 hours a day, 7 days a week), in over 170 languages, and at no cost. They will help homeowners understand their options and design a plan to suit their individual situation.
Going through the stress of potentially losing your home is hard enough as it is. No one should EVER be faced with going through that alone, but many do feel alone in what they are experiencing. That is why the Making Home Affordable (MHA) program provides free resources and assistance for distressed homeowners who are working hard at juggling expenses to makes ends meet. There are more options available for struggling homeowners today than ever before, and MHA works to provide them with the mortgage solution that is right for them.
Visit MakingHomeAffordable.gov to read about available programs to help with mortgage payments. If you or someone you know is struggling, there is help.