Wednesday, April 9, 2008

Basic Facts About the Mortgage Crisis

If you need help paying your mortgage, here are some suggestions:

Call your lender NOW. The sooner you contact them, the more they may be able to do to help;

Do not move out of your home. If you abandon the home, you may not qualify for assistance;

There are LOTS of scammers trying to steal your money, home, or both (see Foreclosure Relief Scams). If you want help, make sure you are speaking with a HUD- approved housing counselor. You can find approved agencies near you by calling HUD at (800) 569-4287.

Here are some others numbers that may help:

Operation Hope (877) 592-4673;
NeighborWorks (888) 995-HOPE;
National Community Reinvestment Coalition (202) 628-8866;
National Council of LaRaza (202) 785-1670;
Neighborhood Assiatance Corporation of America (888) 302-NACA;
Acorn - Home Equity Loss Prevention Program (888) 409-3557; and
National Foundation for Credit Counseling (866) 557-2227.

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