If you are facing a mortgage payment that you cannot make or if you have fallen behind on your mortgage payments, the first step you should take is to contact your lending company directly. 

Please do not ignore the letters or phone calls from your lender. Foreclosure on a mortgage and the loss of a home is an expensive process. The longer you wait to make the call, the fewer options you will have.

Avoiding Foreclosure

	Bank of America Launches Foreclosure Program
	McCollum Unveils Website to Help Homeowners Avoid Mortgage Fraud-Related Scams
	Florida Bar Issues Ethics Alert for lawyers: Providing Legal Services to Distressed Homeowners
	Foreclosure Resources for Consumers
	FACT SHEET: FHA To Provide Additional Mortgage Assistance To Struggling Homeowners
	Guide to Avoiding Foreclosure - HUD
	MakingHomeAffordable.gov - President’s Obama’s Making Home Affordable Program

Losing Your Home

	Foreclosure Tax Relief
	Foreclosure Resources for Consumers
	Help for Homeowners Facing the Loss of Their Home
	Questions and Answers on Home Foreclosure and Debt Cancellation

Avoiding Foreclosure “Rescue” Scams

	OCC Consumer Tips to Avoid Foreclosure Rescue Scams
	National Consumer Law Center, Inc.’s Tips For Consumers On Avoiding Foreclosure “Rescue” Scams
	Freddie Mac: Avoiding Foreclosure and Beware of Scam Artists
	HUD: How to Avoid Foreclosure and Foreclosure Prevention Companies
	Federal Trade Commission: Mortgage Payments Sending You Reeling? Here’s What to Do - Be Alert to Scams
	Organizations, like the Center for Foreclosure Solutions, help borrowers avoid foreclosure and help financially stressed borrowers avoid predatory foreclosure rescue scams.

Many Americans who have fallen behind on their mortgage payments are being targeted for so-called foreclosure “rescue” or “prevention “scams.

If you are facing foreclosure you should be wary of solicitations that offer to assist you in stopping or preventing foreclosure.   If the assistance sounds too good to be true or if it sounds too simple, it usually is.   You should be cautious before agreeing to or signing anything from someone other than your lender or servicer, which states they can assist you in preventing or stopping a foreclosure.

What is a Foreclosure “Rescue” Scam?

Simply put - it is where a company or person promises to help save your home from foreclosure, but is actually intent on stealing your home or most of the equity you have accumulated in your home.

There are several types of Foreclosure Rescue Scams you should be aware of:

	Foreclosure Prevention Specialist – phony foreclosure counselors.
	Phantom Help - charges high fees for work the homeowner could do themselves.
	Lease/Buy Back – homeowners are deceived into signing over the deed to their home.
	False Bailout – the homeowner is lead to believe that they can rent their home from the new owners and eventually repurchase the home.
	Bait and Switch - the homeowner thinks they are signing new mortgage documents, but are actually signing over the deed to their home.

Credit Counselors – Getting Help

Going through the foreclosure prevention process can be complicated and you do not have to do it alone.  There are legitimate organizations such as Non-Profit Housing or Credit Counseling Agencies that can help you with the following:

	Analyze your situation
	Go over your options
	Prioritize your debts
	Prepare information for your lender

	HUD Housing Counselors
	How to Protect Yourself: Credit Repair and Debt Relief Services
	Florida Attorneys Team Up To Help Floridians Facing Foreclosure
	Homeownership HOPE Counseling Services
	SCAM Alert: Avoid Foreclosure Rescue Scams

Remember! Counseling services are usually free or require a small fee.