Alternatives to Foreclosure
If you’re behind on your mortgage payments or have already defaulted on your loan, you might be able to avoid a foreclosure. You could be able to keep your home by working with your servicer and lender, figuring out a way to reduce your mortgage payments, like with a modification, or qualifying for a foreclosure assistance program. If walking away from your home is the best financial decision for you, you have other options, like a short sale, deed in lieu of foreclosure, or just letting the foreclosure happen.
Before you decide what to do, make sure you understand all of your options and their consequences.
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What Is Fannie Mae or Freddie Mac?
Fannie Mae and Freddie Mac are government-sponsored enterprises that buy mortgage loans from banks and other lenders.
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Help for Homeowners With FHA Loans
If you have an FHA-insured loan and are struggling to make mortgage payments, HUD has programs to help you avoid foreclosure.
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Get Foreclosure Relief From State Hardest Hit Fund Programs
Check out the chart below to find out if you live in a state that has an open Hardest Hit Fund program.
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Help for Homeowners Facing Foreclosure After a Natural Disaster
In the wake of a natural disaster, such as Hurricane Katrina or Superstorm Sandy, there are certain foreclosure protections available for homeowners.
Loan Modifications and Other Forms of Loss Mitigation
MoreLoan Modifications and Other Forms of Loss Mitigation
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How to Get a Mortgage Loan Modification
If you're struggling to pay your mortgage, you might be able to lower your payments with a loan modification.
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What's the Difference Between a Forbearance Agreement, Repayment Plan, and Loan Modification?
Forbearance agreements, repayment plans, and loan modifications are different ways that borrowers can avoid foreclosure.
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What Does “Loss Mitigation” Mean?
“Loss mitigation” is what the mortgage-servicing industry calls the process where borrowers and their loan servicer work together to avoid a foreclosure.
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Do’s and Don’ts for Getting a Loan Modification
Learn what to do—and what not do—in the loan modification process.
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Should I Hire a Lawyer to Help With My Mortgage Modification?
Tips on when you should consider hiring an attorney to help you with a mortgage modification application.
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Short Sales vs. Deeds in Lieu of Foreclosure
Both short sales and deeds in lieu can help homeowners avoid foreclosure. Learn the difference between the two options.
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If you are a homeowner facing foreclosure, a short sale might sound like the perfect solution to avoid foreclosure.
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Do I Need a Lawyer for a Deed in Lieu of Foreclosure?
Question I took out a mortgage loan a couple of years ago, but got in over my head.
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Should I Hire a Lawyer to Help With My Short Sale?
If you’re a struggling homeowner facing foreclosure and thinking about selling your home in a short sale, you’ll need to decide whether you should hire an attorney or a real estate agent—or both—to help you with the process.
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Save Your New York Home From Foreclosure: The Homeowner Protection Program
New York’s Homeowner Protection Program (HOPP) provides housing counseling services and other foreclosure relief to homeowners.
The Hardest Hit Fund: Money for States Impacted by the Housing Crisis
MoreThe Hardest Hit Fund: Money for States Impacted by the Housing Crisis
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Get Foreclosure Relief From State Hardest Hit Fund Programs
Check out the chart below to find out if you live in a state that has an open Hardest Hit Fund program.
More About This Topic
More Legal Topics
- After Foreclosure
- Delaying or Stopping Foreclosure
- Fighting Foreclosure in Court
- Foreclosure and Bankruptcy
- Foreclosure Lawyers & Other Foreclosure Help
- Foreclosure of Mobile and Manufactured Homes
- Foreclosure: The Basics
- Homeowners’ Associations (HOAs & COAs)
- Losing Your Home in a Tax Sale
- Reverse Mortgages
- State Foreclosure Laws
- Tenants and Foreclosure
- Timeshare Foreclosures
- Understanding Mortgages & The Major Players in a Foreclosure
- After Foreclosure
- Delaying or Stopping Foreclosure
- Fighting Foreclosure in Court
- Foreclosure and Bankruptcy
- Foreclosure Lawyers & Other Foreclosure Help
- Foreclosure of Mobile and Manufactured Homes
- Foreclosure: The Basics
- Homeowners’ Associations (HOAs & COAs)
- Losing Your Home in a Tax Sale
- Reverse Mortgages
- State Foreclosure Laws
- Tenants and Foreclosure
- Timeshare Foreclosures
- Understanding Mortgages & The Major Players in a Foreclosure
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