If your bills are piling up and you’re worried about losing your home, you’re not alone. As rising foreclosure rates indicate, thousands of Americans are touched by foreclosure every year. But many could be prevented, if homeowners sought help sooner from their mortgage company or through a new toll-free, confidential hotline.
Unfortunately, according to a national poll recently funded by the Homeownership Preservation Foundation, 53 percent of American homeowners would not contact their mortgage company for help if faced with delinquent payments.
Fortunately, many foreclosures could be prevented if homeowners called their mortgage company or the Foundation’s toll-free hotline-(888) 995-HOPE-as soon as they recognize that they may have a problem paying their mortgage. The longer homeowners wait to call for help, the fewer options they have.
If you’re a homeowner whose debt is continuing to grow and you’re finding that you’re having more and more difficulty paying your bills, consider taking the following action:
1. Take a close look at your bills-unopened envelopes or a steadily growing pile of bills from utility...