|
|
|
This article is intended for people who might be facing foreclosure or almost to the point of 
facing foreclosure, such as having an adjustable rate mortgage that has recently adjusted or is going to adjust in the near future and might cause you financial difficulty.
I'm not offering legal advice in any way, shape or form. If you are currently in trouble with your mortgage or anticipate that you will be soon, you need to talk to an attorney. My area of expertise is real estate and mortgage banking and to that end, I offer you my services. If you are in the greater St. Louis real estate market, then my services are available to you on a professional basis. Whether you are in the area or out of it, I am available on a cost free basis for advise, possibly a referral to an attorney in your area and, if needed, a real estate agent who might be able to help you.
I won't try to hide the commercial aspect of this page. I'm out to sell real estate in the St Louis real estate market and mortgages throughout the State of Missouri. But that's not the main purpose behind this page. I'm here to help. If in helping, I can make a buck? Cool! If not, then that is cool too. I figure that Karma will take care of me on those!
***Important Links And Numbers Located Below!***
Enough disclaimers! If you are behind on your mortgage or soon to be, the best piece of advice that I can give you is to talk to your lender. Call them before they can call you. Let them know what is up. Why you are having problems and what you are doing to fix these problems.
Depending on who is servicing your mortgage, being proactive with calling them and keeping them informed can't hurt and it can help quite a bit.
Most mortgage servicing company's have people who's job it is to help consumer's work through these times. If your financial situation is one where you don't expect to be able to keep the house, communicating with the mortgage servicer can help buy you the time to get it sold.
Also, if, as is often the case, you won't be able to sell the house for enough to pay off the mortgage, having worked with the mortgage servicer will only help when they consider if they will accept a short sale from you.
But The Lender Won't Talk To Me!
Sometimes, especially if you are pretty far along in the foreclosure process, the lender will stop taking your payments and some will even stop talking to you. Other's will bounce you around and appear as if they are dragging their feet to keep from talking with you.
If this happens or if you have gotten a letter from the lender's attorney, it generally means that they are getting very serious about taking your home. If you have an FHA mortgage, call:
The Department of Housing and Urban Development (HUD) 1-800-569-4287 or visit them on the web at http://www.hud.gov/foreclosure/index.cfm .
If you have a VA mortgage, contact VA at 1-800-729-5772. This number is to the Cleveland VA Center, but they will be able to forward you to the appropriate VA Center. You can also visit the Cleveland VA Center's page on avoiding foreclosure by clicking on this link.
If your mortgage is a Fannie Mae mortgage you can contact them at (800) 732-6643.
Freddie Mac did not really give a telephone number but they did have a good web page on avoiding foreclosure. Freddie Mac Avoiding Foreclosure.
Again, the main focus of this article isn't commercial in it's nature. If you're in trouble with your mortgage you need help. No matter where you're at, I might be able to be a resource for you. If nothing else, I can hear you out and refer you out the best that I can. My telephone number is 1-314-231-LIST (5478).
Another good number to have who might be able to help you is the National Foundation For Credit Counseling. Their phone number is 1-800-388-2227.
NOTE: Nothing on this page is intended to replace the advice of a competent real estate attorney.
Click Here To Return To Main Page