Tips for Avoiding Foreclosure

Tips for Avoiding Foreclosure

Don’t ignore the problem of foreclosure, as the situation can often be fixed if you act quickly. There are many options for foreclosure prevention, including the following: Get housing counseling as your first step. These agencies (both state and federal) will work with you for no cost:
• MSHDA Hotline: 866-946-7432
• HUD Hotline: 800-569-4287
• Oakland County 248-452-9200
• Lighthouse: 248-920-6060
• FHA: 800-CALL-FHA
• Veterans: 800-729-5722
• United Way: 211
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• Call the bank or mortgage company’s loss mitigation department.
• Don’t talk to the collections department.
• Be insistent.
• Explain your situation.
• Stay in your home, as you may not qualify for assistance if you leave. Don’t fall for foreclosure recovery scams.
• Don’t pay a fee for services you can get for free (counselors listed above).
• Don’t sign your deed over to anyone. You may still be responsible for the loan.
• Don’t sign a document appointing someone to represent you.
• Don’t make a quick decision under pressure.
• Don’t sign papers with blank spaces.
• Don’t fall for the “we’re the only ones who can help you” line. You will lose your home and credit rating if you do nothing. 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

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