The National Association of REALTORS® has created a useful document for homeowners in “How to Avoid Foreclosure and Keep Your House” if you are in trouble it is an excellent place to start. Some of the resources cited in this document include:

For immediate advice, call 888-995-HOPE To speak to a counselor on how to avoid foreclosure. Available in English and Spanish, 24/7. Or visit their website for more information.

HUD Resources regarding Foreclosure

For a list of HUD-approved counseling agencies, by state, go to www.hud.gov/counseling.

HUD’s Internet page”How to Avoid Foreclosure” is aimed at borrowers with FHA-insured mortgages, but can help other borrowers as well.

Additional Foreclosure Resources:

Freddie Mac: “Keeping Your Home, Protecting Your Investment.” Go to www.freddiemac.com and search for this brochure by typing in the full name of the brochure.

Ginnie Mae: For a simple calculator to help home buyers estimate how much they can afford to spend, read “How Much Home Can You Afford?” http://www.GinnieMae.gov.

“Looking for the Best Mortgage” is a brochure issued by 11 federal agencies on how to shop, compare, and negotiate the best deal on a home loan. www.federalreserve.gov/pubs/mortgage/mortb_1.htm.

Americans for Fairness in Lending: To find consumer resources related to a variety of lending issues, go to www.affil.org.

Consumer Handbook on Adjustable Rate Mortgages (the “CHARM” booklet) issued by the Federal Reserve Board (FRB) and the Office of Thrift Supervision (OTS). http://www.FederalReserve.gov. At the FRB site, click on “publications and education resources” and then on “consumer information brochures.”

Credit-reporting agencies:

• Equifax (800) 685-1111 www.Equifax.com.
• Experian (888) 397-3742 www.Experian.com.
• TransUnion (800) 916-8800 www.TransUnion.com.
• Go to www.AnnualCreditReport.com to ask for a free copy of your credit report, once a year, or call 877.322.8228.
• See also www.FTC.gov.

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The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting home ownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation’s largest community development financial institutions.

NeighborWorks® America creates opportunities for people to improve their lives and strengthen their communities by providing access to home ownership and to safe and affordable rental housing.

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