Avoiding Foreclosure

Don't ignore the problem.  The situation can often be fixed if you act quickly.  There are many options for foreclosure prevention.

• Get housing counseling.  This should be your first step
  • These agencies will work with you for no cost:
    • MSHDA Hotline - 866-946-7432
    • HUD Hotline - 800-569-4287
    • Oakland County - 248-452-9200
    • Lighthouse - 248-920-6060
    • FHA - 800-CALL-FHA
    • Veterans - 800-729-5722
    • United Way - 211
    • http://www.michigan.gov/mshda
    • www.FHA.gov
    • www.HUD.gov/offices/hsg/sfh/hcc/hcs.cfm
    • www.HoldOnToYourHome.org
  • Call the bank or mortgage company's loss mitigation department.
    • Don't talk to the collections department.
    • Be insistent.
    • Explain your situation.
    • Stay in your hone.  You may not qualify for assistance if you leave.
• Don't fall for foreclosure recovery scams.
  • Don't pay a fee for services you can get free (counselors listed above).
  • Don't sign your deed over to anyone.  you my still be responsible for the loan!
  • Don't sign a document appointing someone to represent you.
  • Don't make a quick decision under pressure.
  • Don't sign papers with blank spaces.
  • Don't fall for "We're the only ones who can help you".

You will lose your home and your credit rating if you do nothing.

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The City of Ferndale, Michigan
300 East Nine Mile Road
Ferndale, Michigan  48220
(248) 546-2525