As scary as it may feel to fall behind on your mortgage, there are steps you can take and programs you can use to rehabilitate your loan and keep you in your home. Foreclosure counseling is offered free to any homeowner concerned about their ability to manage their mortgage and is a great first step on the road to rehabilitation.
How it Works
Foreclosure counseling includes a one-on-one conversation with a trained specialist. You’ll work together, discussing the cause of your mortgage issues, reviewing your finances, and deciding on an action plan to help you meet your goals. If needed, your counselor will also help connect you with your servicer to begin the rehabilitation process.
It’s important to note, however, that the sooner you act, the more options you have. So don’t wait until you feel absolutely desperate - take action as soon as you realize you need help.
Who Can Benefit?
- Those worried about making next month's mortgage payment
- Those who are already behind on their mortgage payments
- Those worried they may lose their home
Why Choose MMI?
We recognize that consumers have options. That is why we are committed to providing the highest level of quality in our field. Here are five of the many ways we ensure that you, our customer, receive the high quality housing counseling you deserve:
- Collaboration - MMI is HUD-approved to provide housing counseling and foreclosure prevention program services. MMI is also a member of the HOPE NOW alliance and is proud to deliver counseling services through the Homeowner's HOPE™ Hotline. With a grant from NeighborWorks® America, MMI offers free counseling to families at risk of losing their homes through the National Foreclosure Mitigation Counseling Program.
- Accessibility - You can access our housing counseling services by phone, as well as in-person in many markets.
- Quality - MMI is a member of the National Foundation for Credit Counseling (NFCC) and the Consumer Federation of America (CFA). We are proud to be accredited by the prestigious Council on Accreditation of Services for Families and Children.
- Knowledge - Our training department continually works to assure that our representatives are knowledgeable and cross-trained. All counselors must pass a series of tests to become certified.
- Nonprofit - As a nonprofit counseling agency, our priority is always the success and wellbeing of the people we serve. We don’t work for your lender, we work for you and you can always expect honest, unbiased advice and guidance.
What is the HOPE NOW alliance?
HOPE NOW is an alliance between HUD-approved housing counseling agencies, mortgage companies, investors, and other mortgage market participants. This alliance maximizes outreach efforts to homeowners in distress to help them stay in their homes and creates a unified, coordinated plan to reach and help as many homeowners as possible. The members of this alliance recognize that by working together, they are more effective than by working independently. MMI is a member of the HOPE NOW alliance and is proud to offer services through the Homeowner's HOPE™ Hotline.
What is the benefit of working with a HOPE™ Hotline counselor?
When you work with a Homeowner's HOPE™ Hotline counselor, you will get a complete analysis of your situation and your budget. Your counselor can also help you discover all of your options and be informed about other resources that may be available. There is no cost to talk with a Homeowner's HOPE™ Hotline counselor.
What can you do to save my home?
Counselors are certified and trained to set up a plan of action designed just for you and your situation. Spanish-speaking counselors are also available. We do not just offer general advice - we help you take action. Representatives will arm you with education and support that assists you in overcoming immediate financial issues.
Keep in mind, though, that your options will vary depending on the details and delinquency of your mortgage. It’s possible that there may not be a way to prevent a foreclosure that is already in progress. That’s why it’s important to seek help as soon as you begin to struggle.
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If your mortgage is delinquent, or if you fear it may be in the near future, the most important thing to do is to take action and contact your lender.
If you are in debt over your head and are finding yourself unable to even make the minimum payments, you can get help.
Important resources to help struggling homeowners prevent foreclosure.