This Guide will help you by: Answering questions about what you can do if you fall behind on your mortgage payments in the "Common Questions" section. Giving you more information about foreclosure in the "Related Articles Section."NOTE: If your mortgage is insured by the federal government ( like a FHA, VA, FmHA loan), you have other rights which are not covered by the information in this Guide.Click on words that appear like 'this' to learn what these words mean.]]> Select from the list below:]]> What should I do if my lender sent me a letter because I missed a payment?If you get letters from your mortgage lender about your loan:Do not ignore any mail from your mortgage lenderOpen and read all the letters your lender sends youFind out if there are any deadlines to take actionDo not throw any letters awayIf you do nothing, you will not know your options for help and your problem will get worse.]]>Should I contact my lender?Yes. Contact your lender as soon as you realize you have a problem. Lenders do not want your house. Explain your situation. Then try to reach an agreement on making up the payments you have missed. Mortgage lenders have options to help borrowers through difficult financial times. ]]>What should I do if I think my lender has not applied all my payments to my balance?You have important rights has a consumer under federal law. Under the Real Estate Settlement Procedure Act (RESPA), your mortgage servicer must respond promptly to written inquiries, known as "qualified written requests."If you believe you've been charged a penalty or late fee that you don't owe, or if you have other problems with the servicing of your loan, contact your servicer in writing. Be sure to include your account number and clearly explain why you believe your account is incorrect. Your inquiry should not be just a note on the payment coupon supplied by your servicer, but should be sent separately to the customer service address. To see a sample "Qualified Written Request" visit the Forms of this Guide. For more information on RESPA visit the Federal Trade Commission's website or HUD's website. ]]>What are some of my options to try to get current on my loan again?There are many workout agreements that you can make with your lender to help avoid a foreclosure suit: Temporary indulgence: The lender may give you a month or two grace-period to make up the payments. Deferral of principal: You pay the interest only on your loan for a period of time and then go back to making regular payments again.Forbearance: You stop making payments, or you have smaller payments for up to 18 months. Then, at the end of 18 months, you must make all the payments that you missed. Mortgage modification: You can change one or more terms of the original loan to get rid of the amount you owe. The interest rate can be lowered if current market rates are lower than the mortgage interest rate. Or, you may be able to make the mortgage last for a longer period of time so that you will have smaller payments each month. Refinance: You can get a new loan from another lender. You should be very careful about refinancing. You are likely to get many offers to refinance and save the home. The terms of these offers may be "predatory." Homeowners often end up losing the house after paying even more money to refinance. You will usually get a better rate from a bank or credit union. Try these before looking for other lending options.Repayment Agreements: You pay the overdue amount with an extra payment each month. You can usually only do this for 12-18 months. A credit counseling agency may also help you get a workout agreement to prevent foreclosure.]]>What if I am behind in my payments and don't want to keep my house?There are three things you can do if you are a homeowner and behind in your payments and you do not want to keep your house:Sell the house: Try to sell the house yourself or through a realtor. If you can sell the house before a foreclosure sale, you might get a good enough price to avoid owing the bank money. Also, if you sell the house for enough money, you might be able to build equity out of it. Equity is the amount by which the sales price is more than the amount you still owe the bank.Deed in lieu of foreclosure: Any time after you are behind on your payments, you can ask the lender to let you deed the house to them. This means that you would give your lender the house. This is called a "deed in lieu of foreclosure." If the lender agrees and accepts a deed from you, you lose the house, but you will not owe any more money. In other words, the lender is giving up its right to sue you in a foreclosure case.Consent foreclosure: If the lender has already sued you, you can ask for a consent foreclosure. If the judge orders a consent foreclosure, you will not owe any money under the mortgage. But you might have to pay the lender's court costs and attorneys' fees.]]>What if I have already been sued for foreclosure?If you receive court papers, like a mortgage foreclosure summons, this means that your mortgage company has started a lawsuit to take your house from you. You should talk to a lawyer about your legal options. To talk to a lawyer, search the "Helpful Organizations."For more information on mortgage foreclosure, read "What Can I Do if I Am Sued for Foreclosure"? under "Related Articles."]]>Where can I get more help on how to avoid foreclosure? The Federal Government's Making Home Affordable website offers information about many different ways to avoid foreclosure. For more information, visit:The Making Home Affordable website There are several other websites that answer questions about mortgage foreclosure. For more information and resources, visit:The Federal Housing Administration's website U.S. Department of Housing and Urban Development's (HUD) website HOPE Now's Website The Homeownership Preservation Foundation's website Illinois Attorney General's Homeowner Helpline 1-866-544-7151 (Voice/TTY) or 312-814-5094Homeowners in the Chicago area can also attend free foreclosure prevention workshops hosted by Neighborhood Housing Services of Chicago. For more information, visit:Neighborhood Housing Services of Chicago's website Residents of the City of Chicago might also be interested in a partnership between Neighborhood Housing Services of Chicago and the City of Chicago called the Home Ownership Preservation Initiative. For more information, visit:Home Ownership Preservation Initiative's website ]]>What mortgage foreclosure scams should I stay away from?Be aware of mortgage foreclosure scams. Avoid foreclosure prevention companies. You don't need to pay fees for foreclosure prevention help - use that money to pay the mortgage instead. Many for-profit companies wil contact you promising to talk to your lender. While these may be legitimate businesses, they will charge you a hefty fee for help you may be able to get for free from elsewhere. Don't lose your house to foreclosure recovery scams. If any firm claims they can stop your foreclopsure immediately if you sign a document appointing them to act on your behalf, you may be signing over the title of your house. Never sign a legal document with reading and understanding it. ]]> You may use the following forms and instructions to help you solve your problem. If the county you live in is listed, use the forms for that county. If the county you live in is not listed, use the General Forms, if available, and check with the Clerk of the Court in your county. Click here to find the location of your Clerk's office.]]>6751index.cfm?fuseaction=home.dsp_content&contentID=6751Qualified Written Request Listed below are other articles that you may find helpful.Note: You may leave this page when you click on a link below.]]> 6325index.cfm?fuseaction=home.dsp_content&contentID=6325What You Can Do to Avoid Foreclosure2361index.cfm?fuseaction=home.dsp_content&contentID=2361How Can I Stop a Foreclosure on My Home?4650index.cfm?fuseaction=home.dsp_content&contentID=4650What Can I Do If I Am Sued for Foreclosure?5325index.cfm?fuseaction=home.dsp_content&contentID=5325How Can I Protect Myself From Mortgage Rescue Scams?