If you're behind on your house payments, take action!
If you're having trouble making your mortgage payments, or if you've already fallen behind, you may feel scared, ashamed or overwhelmed. That's normal and understandable.
Although some lenders will wait to take action until a borrower has missed three or more payments, it's entirely possible that your mortgage provider may take legal action against you as soon as you fall behind. Therefore, it's important that you don't let your fear or shame prevent you from taking steps to help yourself.
Inaction is your enemy---when you're behind on your house payment, the worst move you can make is to make no move at all. If you continue to avoid taking action, you may find that some viable options for saving your home become unavailable. Commit today to getting in touch with your provider to discuss your options.
In addition to our existing foreclosure prevention programs, TCHP was recently designated by Fannie Mae as the organization's Dallas-Ft. Worth Mortgage Help Network Partner, providing free personalized counseling for homeowners with loans owned by Fannie Mae. Learn more.
If you are a Tarrant area homeowner in crisis, we can help. Working as your advocate and supporter, at no charge to you, TCHP's experienced advisors will work with you to:
~ Determine if your loan is owned by Fannie Mae (note that we can help troubled homeowners whose loans aren't owned by Fannie Mae as well).
~ Review your loan and financial status.
~ Discuss foreclosure alternatives.
~ Identify potential solutions, such as the federal Making Home Affordable Program
~ Serve as your liaison to communicate directly with the Dallas-Ft. Worth Fannie Mae Mortgage Help Center and/or your bank.
~ Gather and submit required documents.
~ Finalize any pending loan workout efforts.
Was your home in foreclosure in 2009-2010?
If your home was in foreclosure in 2009-2010, and if you believe foreclosure errors cost you money, you may be eligible to request a free review of your mortgage foreclosure file by a neutral party.
Foreclosure assistance for Chase mortgage holders
If your mortgage is owned by Chase or EMC and you're experiencing difficulty, you can access one-on-one assistance at the new Chase Homeownership Center in downtown Arlington. Services are available in English and in Spanish.
Making Home Affordable
The Making Home Affordable Program is a federal assistance project that offers several strong options for homeowners in crisis:
1. Refinance of mortgage loans through the Home Affordable Refinance program (HARP).
2. Modification of first and second loans through the Home Affordable Modification Program (HAMP) and the Second Lien Modification Program (2MP).
3. Temporary assistance for unemployed homeowners through the Home Affordable Unemployment Program (UP).
Other options may be available as well. Learn more.
Important consumer alert!
Foreclosure fraud has become epidemic. Protect yourself by getting familiar with the warning signs of a foreclosure scam. Be suspicious of anyone who:
~ Guarantees to stop foreclosure.
~ Pressures you to sign or pay up front.
~ Tells you not to contact your lender.
~ Tells you to make payments to them, offers to fill out paper work.
~ Tells you foreclosure ‘scams’ aren’t real.
There are reputable groups like ours who can provide you with free assistance . If you have a loss of income or other crisis and think you are in danger of foreclosure, or if you would like to find out if you're eligible for a loan modification program, contact us.