Home Foreclosure Help Center
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*Important News for Veterans: The link below is from a report last week by Fox 5 about lenders and attorneys defrauding vets on VA loan modifications based on court documents in a racketeering and class action lawsuit. This link gives examples of how to review the loan document to check for fees that were illegally charged.
http://www.myfoxatlanta.com/generic/news/How+to+Check+Your+VA+Loan
Wells Fargo was singled out in the Fox 5 report and in response provided a toll free number for concerned vet borrowers.
Wells Fargo wants all its customers to know, if they have any questions about their VA refinancing loan, they can call 800-853-8516. The line will be open 8AM to 5PM CST.
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Links below provide a one-stop shop for all your foreclosure questions.
Links below provide a one-stop shop for all your foreclosure What is Home Foreclosure?
- What Can Families & Individuals Facing Foreclosure Do?
- Key Links (WE RECOMMEND YOU EXPLORE ALL OF THESE)
What is Home Foreclosure?
According to the Home Ownership Preservation Foundation (995hope.org), foreclosure is "a legal action used by a mortgage company to recover any money from a customer when the customer does not pay his or her debt in accordance with the mortgage agreement." In other words, it's the legal remedy used by a mortgage company to assume ownership of a property when the required loan payments are not made. Foreclosure obliterates otherwise good credit.
"Although the actual process varies from state to state, foreclosure revolves around a homeowner's inability to keep up with monthly mortgage payments. The farther behind the homeowner gets, the closer to foreclosure the homeowner becomes."
Click here to open a new window with a list of common myths about foreclosure.
How to Avoid Foreclosure
If you are facing financial difficulty and suspect you may be unable to make your payments on time, first contact your lender. You may be able to renegotiate the terms of your mortgage.
We also highly recommend you consult the resources listed below. It is better to have contacted them before you are in urgent need of assistance.
What Can Families & Individuals Facing Foreclosure Do?
Atlanta Legal Aid Society and the Home Ownership Preservation Foundation are non-profit resources for families and individuals facing foreclosure. We recommend you contact both to maximize your access to information. Contact Atlanta Legal Aid at one of their offices:
- DeKalb County: (404) 377-0701
- Gwinnett County: (678) 376-4545
- Downtown Atlanta: (404) 524-5811
- SENIOR CITIZEN HOTLINE: 1-888-257-9519
- South Fulton / Clayton County: (404) 669-0233
We highly recommend the Home Ownership Preservation Foundation hotline for immediate counsel. HPF's representatives -- experienced advisors from HUD-approved agencies -- will be able to give you support and advice in your hour of need. Call now: 1-888-995-HOPE (4673).
We highly recommend that you contact a HUD-approved counseling agency.
KEY LINKS:
● Home Affordability and Stability Plan
● HUD-approved counseling services, foreclosure prevention tips, provisions of the service members Civil Relief Act; rental assistance programs
● National Foundation for Credit Counseling
● Home Loan Learning Center: Foreclosure Prevention Resource Center
● Avoiding Foreclosure Rescue Scams | Espanol
● IRS.gov – Tax questions & answers on Home Foreclosure and Debt Cancellation
