Foreclosure Prevention & Assistance

If you are at risk of falling behind on your mortgage payments, you should know that there are resources available that may help you save your home. While Congress continues to debate legislation that would provide assistance to millions of homeowners facing foreclosure, the information and links below provide resources that are available to you immediately.

The HOPE NOW Alliance provides credit, debt management, and foreclosure counseling for homeowners in distress.  Government-certified counselors help homeowners make contact with their servicers in an effort to develop loan workouts, including loan modifications or loan repayment programs.  To date, they have helped over one million people secure loan workouts, including more than a quarter of a million loan modifications resulting in lower payments.  Call toll free: 888-995-HOPE.

NeighborWorks America, a national nonprofit organization created by Congress to provide financial support, technical assistance, and training to improve our nations’ communities, operates an online center for foreclosure solutions. NeighborWorks America is also able to assist at-risk homeowners by phone: (800) 438-5547.

The Federal Housing Authority has authorized several resources to assist homeowners at risk of foreclosure, including the publication of tips on avoiding foreclosure, and a toll-free hotline for consumers to speak to an approved housing counselor at (800) 569-4287 or TDD (800) 877-8339.

The Federal Trade Commission has published a comprehensive fact sheet for homeowners struggling to pay their mortgages, and has launched a financial literacy website, MyMoney.gov, which can assist consumers in understanding complex financial products, including mortgages, lines of credit, and refinancing products.

The New York State branch of the U.S. Department of Housing and Urban Development has approved two financial counseling organizations for homeowners that are either facing foreclosure, or who have already entered into the process of foreclosure, in our area. Neighborhood Housing Services of Jamaica is certified to provide financial counseling and resources to homeowners living in Queens, and can be reached by phone at (718) 291-7400. The Nassau County Economic Development Office of Housing is certified to provide financial counseling and resources to homeowners living in Nassau County, and can be reached by phone at (516) 572-0815.

If you require further assistance, please do not hesitate to contact my office at (718) 423-2154.