If you are facing foreclosure or you believe that you may not be able to make your mortgage payment ACT NOW!
Free assistance is only a phone call away. Texas homeowners should seek FREE assistance from a U.S. Department of Housing and Urban Development (HUD) approved housing counselor specially trained in foreclosure intervention and prevention.
The sooner you call for help the greater the possibility that you will be able to work things out with your lender to keep your home. Consider the following:
Contact a HUD-approved housing counseling agency. You do not need to pay for housing counseling services nor should you pay for any service that promises to save your home.
There are several ways to connect with a HUD housing counselor:
- Call HUD's interactive voice response system at 800/569-4287 or TTY 1-800/877-8339,
- Search for a HUD-approved housing counselor in Texas: www.hud.gov/offices,
- Call the Homeowner's HOPE Hotline 24 hours a day, seven days a week and speak to a HUD-approved housing counselor at 888/995-HOPE,
- Search for a HUD-approved housing counselor by ZIP code using www.Findaforeclosurecounselor.org
What to Expect When you Meet with the Lender or Housing Counselor
You should prepare for your call or meeting with the lender or housing counselor. The better prepared you are to explain your financial situation the better the lender or counselor will be able to assist you with a possible solution.
The following is a checklist of the essential items you need to have when you meet with your lender or call to speak with a housing counselor. Keep your original documents; provide only copies.
- Information about your first mortgage, such as your monthly mortgage statement, (sample mortgage statement):
- Information about any second mortgage or home equity line of credit on the house.
- Account balances and minimum monthly payments due on all of your credit cards.
- Account balances and monthly payments on all your other debts such as student loans and car loans.
- Your most recent income tax return.
- Information about your savings and other assets
- Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.
- It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.) if applicable