http://www.foreclosurefraudalert.com/GoogleSitemap.xml Foreclosure Fraud Alert-If you have an FHA Loan Part 1

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Avoid Foreclosure and Home Buying Scams

for those of you with FHA Loans

The guidance below is applicable to homeowners with FHA Insured loans. While a good deal of this information may apply to all homeowners in danger of losing their homes, not all of the foreclosure avoidance tools mentioned may be available to you if you have a VA or conventional loan. Contact your lender for details about your particular loan. "We Buy Houses" signs are everywere, avoid foreclosure and don't lose your home equity to home buying scams.

Q: What Happens When I Miss My Mortgage Payments?
Foreclosure may occur. This is the legal means that your lender can use to repossess (take over) your home. When this happens, you must move out of your house. If your property is worth less than the total amount you owe on your mortgage loan, a deficiency judgment could be pursued. If that happens, you not only lose your home, you also would owe HUD an additional amount.

Both foreclosures and deficiency judgments could seriously affect your ability to qualify for credit in the future. So you should avoid foreclosure if possible.

Q: What Should I Do?
DO NOT IGNORE THE LETTERS FROM YOUR LENDER. If you are having problems making your payments, call or write to your lender's Loss Mitigation Department without delay. Explain your situation. Be prepared to provide them with financial information, such as your monthly income and expenses. Without this information, they may not be able to help.
Stay in your home for now. You may not qualify for assistance if you abandon your property.
Contact a HUD-approved housing counseling agency. Call (800) 569-4287 or TDD (800) 877-8339 for the housing counseling agency nearest you. These agencies are valuable resources. They frequently have information on services and programs offered by Government agencies as well as private and community organizations that could help you. The housing counseling agency may also offer credit counseling. These services are usually free of charge.

Q: What Are My Alternatives?
You may be considered for the following:

Special Forbearance. Your lender may be able to arrange a repayment plan based on your financial situation and may even provide for a temporary reduction or suspension of your payments. You may qualify for this if you have recently experienced a reduction in income or an increase in living expenses. You must furnish information to your lender to show that you would be able to meet the requirements of the new payment plan.

Mortgage Modification. You may be able to refinance the debt and/or extend the term of your mortgage loan. This may help you catch up by reducing the monthly payments to a more affordable level. You may qualify if you have recovered from a financial problem and can afford the new payment amount.

Partial Claim. Your lender may be able to work with you to obtain a one-time payment from the FHA-Insurance fund to bring your mortgage current.

The Foreclosure Fraud Alert Website http://www.foreclosurefraudalert.com/

The Foreclosure Fraud Alert Blog http://www.foreclosurefraudalert.com/fraudblog

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◦	Lenders Instigate Foreclosures with Outrageous Fees
◦	Bankruptcy Foreclosure Scams
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◦	Desperate Lenders Slash the Prices on Foreclosure Properties
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◦	Overview Table of State's Foreclosure Methods
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◦	DC Contemplates New Foreclosure Law
◦	DC Man Sells Home He Didn't Own
◦	Florida
◦	Florida Foreclosure Laws
◦	Florida Plan urged to halt foreclosure scams
◦	Foreclosures Follow Convicted Felon
◦	Slow Housing Market Speeds Up Foreclosure Scams
◦	Florida AG Sues 19 Foreclosure Rescuers
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◦	Georgia Foreclosure Laws
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◦	Maryland Man Admits to Equity Skimming Scam
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◦	Mortgage Fraud Gets Attention Too Late
◦	Lax Oversight Contributes to Foreclosure Scams
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◦	Minnesota Foreclosure Laws
◦	Broker Pleads Guilty in Foreclosure Scam
◦	Minnesota Files Lawsuit Against 6 Foreclosure Rescuers
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◦	Mississippi Foreclosure Laws
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◦	AG Trying to Shutdown Foreclosure Scams
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◦	Accused foreclosure scam artist behind bars
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◦	New Hampshire Foreclosure Laws
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◦	New Jersey Victims Face Losing HOmes
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◦	New Mexico Foreclosure Laws
◦	Foreclosure Rescuers Victimizing Homeowners in Bankruptcy
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◦	Deed Forging Press Release
◦	Angels hit desperate homeowners with foreclosure scam
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◦	North Carolina Foreclosure Laws
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◦	North Dakota Foreclosure Laws and Codes
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◦	Ohio Foreclosure Scam Articles
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◦	Ohio Foreclosure Rescue Scammer Pleads Guilty
◦	Ohio Foreclosure Scams Getting Worse
◦	Longest Foreclosure Fight in Ohio History
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◦	Washington Votes to Increase Foreclosures.
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◦	Identity Theft Hits Small Business Hard
◦	How to Protect Yourself from Identity Theft
◦	Medical Identity Theft
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◦	Internet Auction Fraud
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◦	How to Avoid being a Victim Of Loan Fraud
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◦	Identifying ‘Phishy’ and other Threatening Emails
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◦	Pseudo Bank Examiner Fraud
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◦	Telemarketing Scams
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