Talk to a Housing Counseling Agency

If you don't feel comfortable talking with your lender, you should immediately contact a HUD-approved housing counseling agency and arrange an appointment with a counselor. A counselor will help you assess your financial situation, determine what options are available to you, and help you negotiate with your lender.  A counselor will be familiar with the various arrangements that lenders will consider and will know what course of action makes the most sense for you and your family. In addition, the counselor can call the lender with you or on your behalf to discuss an arrangement.  By meeting with a counselor before your mortgage payments are too far behind, you can protect yourself from future credit problems.

A counselor can help you establish a monthly budget plan to ensure that you can meet all of your monthly expenses, including your mortgage payment. Your personal financial plan will clearly show how much money you have available to make the mortgage payment. This analysis will help you and your lender determine whether a reduced or delayed payment schedule could help you.  Also, a counselor will have information on services, resources, and programs available in your local area that may provide you with additional financial, legal, medical or other assistance that you may need.

To find out more about HUD-approved housing counseling agencies and their services, please call 1 (800) 569-4287 on weekdays between 9:00 am and 5:00 pm Eastern Standard Time.  To look at the list of these HUD-approved agencies by state on the HUD web site, click here http://www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm

Many of these local housing counseling agencies are affiliates of national and regional housing counseling intermediaries. The websites for the HUD-approved National and Regional Housing Counseling Intermediaries describe the full range of assistance offered, as well as maps showing location of their affiliates.

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