Mortgage Modifications for Lower Payments Can t Be Guaranteed AARP
Mortgage Modifications for Lower Payments Can't Be Guaranteed - AARP
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A. Red flags are popping up all over the place. No company can guarantee that your lender will agree to modify your mortgage. You stand to lose big-time if you pay for a promise that can’t be delivered. Have you contacted your lender yourself to discuss your situation and ask for a modification? If you’ve had no luck there, consider seeking help from a government program designed to help hang on to their homes, the Home Affordable Modification Program. The program, run by the newly created , offers assistance and application forms by phone, toll-free, at 855-411-2372. You can also file complaints online or by phone if you suspect . There’s also the Homeowner’s HOPE Hotline, endorsed by the Treasury and the Housing and Urban Development departments. The hotline works with homeowners by putting them in touch with government-approved housing counselors who know about programs and resources in particular states. You can call the hotline toll-free at 888-995-HOPE (4673) or visit the . Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures
Is Mortgage Modification for You
Beware of false promises that your bank will ease your loan terms
Q. I’ve fallen behind in my mortgage. I was recently approached by a company that’s promising to get me a loan modification. I would make lower and keep my home. But I’d have to pay the company a fee. Does this seem legitimate?See also: .
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A. Red flags are popping up all over the place. No company can guarantee that your lender will agree to modify your mortgage. You stand to lose big-time if you pay for a promise that can’t be delivered. Have you contacted your lender yourself to discuss your situation and ask for a modification? If you’ve had no luck there, consider seeking help from a government program designed to help hang on to their homes, the Home Affordable Modification Program. The program, run by the newly created , offers assistance and application forms by phone, toll-free, at 855-411-2372. You can also file complaints online or by phone if you suspect . There’s also the Homeowner’s HOPE Hotline, endorsed by the Treasury and the Housing and Urban Development departments. The hotline works with homeowners by putting them in touch with government-approved housing counselors who know about programs and resources in particular states. You can call the hotline toll-free at 888-995-HOPE (4673) or visit the . Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures