Foreclosure Assistance Companies

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					What should I do?                                What are some solutions?                          What if I am in foreclosure?
Do not ignore it. The problem won’t go           There may be many, depending on your
away and you WILL lose your home if you          circumstances. The first step is to determine     If you are not able to stay in your home,
wait too long to act.                            what is causing the difficulty. It may be a       there are still things you can do to make the
                                                 job loss, an unexpected illness or injury to      transition less painful.
Don’t pay for mortgage rescue.                   an income producer, a change in your               Plan your move – Seek assistance in
Beware of “mortgage rescue” offers.              mortgage payment schedule.            Getting         finding housing and make the move as
Mortgage rescue companies are likely to          financial advice is critical.                         easy as possible for yourself and your
contact you if a foreclosure has been filed in                                                         family. There are state, county and civic
court. They will claim they can save your        The second step is to determine your                  assistance programs available.
home for a fee. As good as it may sound,         options. This requires analysis of your            Preserve your credit –Seek an “exit
these services are often unable to prevent a     current financial condition and your                  plan” that preserves your credit and
foreclosure and they will cost you more          mortgage       requirements.     A    certified       keeps future options open for you.
money. Don’t pay them.                           counselor or mediator can guide you through        Lay out a future financial plan –
                                                 this process and determine which options are          Create a future financial plan that is
Get some professional assistance.                best for you. Several options are listed              reasonable and achievable so that you
A certified housing counselor can determine      below:                                                and your family are stable and can build
exactly what your situation is and what           Mortgage Modification – Refinance the               your future on solid footing.
options you may have. This assistance is             debt at a lower rate or over a longer
available to you free. This brochure will            period for a lower payment.                   The FINAL step is to execute your plan –
give you information on who to contact for        Special Foreberance – A repayment
various services.                                    plan between you and your lender to           If you have been able to stay in your
                                                     help meet special but temporary need,         home, you will need to keep your finances
Contact your lender.                                 like an illness or injury.                    in order and possibly make some changes in
Lenders often never hear from homeowners          Federal and State Help programs – If            your lifestyle to maintain your home
in foreclosure. Failure to talk to your lender       you qualify, there are state and federal      ownership. This may necessitate some
is a mistake. Speak to someone in your               programs that may provide full or             follow-up counseling or classes in financial
lender’s loan service department and not in          temporary assistance.                         management that we can provide.
the collections department to get help. Early     Agreed on sale- If the home can not be
discussions with your lender may generate            saved, the lender may agree to sell the       If you must sell or move, execute your plan
options. It is a good idea to allow the              home for less than you owe. The lender        to preserve future options and place yourself
housing counselor to join you in these               agrees to accept the amount and waive         on the best possible footing.
discussions with your lender.                        the balance, which preserves your credit.
                                                  Deed in lieu – Under this agreement, the
                                                     home is given back to the lender. This
                                                     does not save the house, but it may
                                                     preserve your credit.
                                                     Foreclosure Information                            What can I do when
How can I get started?                                      Directory
                                                   These organizations may be able to help:             I face foreclosure?
Act as soon as possible, before the                                                                      Important information about the
situation becomes a crisis.                        Troy Community Works!                                       foreclosure process
                                                   937 339-1014
First, call 937 339-1014 or 866 956-9516
                                                   Operates a foreclosure assistance center, serving           Get help right away
                                                   Miami County in Troy Ohio, offering free
and ask for a counseling session in our            financial counseling and transition assistance.
Troy Office. Schedule a time to come in for
a private and confidential session with a          Homeowners Center of Greater Dayton
                                                                                                        Homeowner/Foreclosure
certified counselor. The offices of Troy           866 956-9516
                                                   Operates a Homeowners Center in Dayton, Ohio
                                                                                                         Counseling Center of
Community Works are located at 315 Public
Square SW, Suite 215, Troy Ohio, 45373.            offering free financial counseling and                  Miami County
                                                   homeowner education.

There is no charge for this counseling. We         Legal Aid of Western Ohio
                                                   Byron Bonar, 866 837-8847
                                                                                                                    Call toll free:
keep your records confidential, however you        Provides free legal advice and representation in
will be asked to sign a release if we take on      qualifying cases.                                     Troy Community Works 937 339-1014
your case, and you will be asked to provide                                                                             Or
financial data so that you and your counselor      Job and Family Services of Miami County                 Homeowne rs Center 866 956-9516
can begin to understand your specific              937 440-3471 Provides advice and assistance in
situation and prepare your options.                unemployment services.

Some things you should NOT do:                     Mediation for Home Foreclosures
                                                   Miami County, Common Pleas Courts
Do not hide from your situation. Keep all          937 440-5900
                                                   If you are already in foreclosure, call and ask to
records and correspondence from your
                                                   speak to the Assignment Administrator for the
lender.                                            judge assigned to your case to see if mediation is
                                                   an option.
Do not be embarrassed – it is difficult, but                                                                 Prepared by Troy Community Works!,
you are not alone, and with help you can get       Hope Hotline 888-995-HOPE (4673)                          a non-profit community development
through this.                                      A national non-profit organization that provides     corporation dedicated to sustaining the vitality,
                                                   phone advice and counseling. They are also able          stability and value of our communities.
                                                   to connect you to some local services.
  Fundi ng for this program was provi ded by a                                                                    Troy Community Works!
generous grant from the general fund of the Troy   Save the Dream 888 404-4674                                315 Public Square, SW, Suite 215
             Foundati on, Troy, OH                 An Ohio program that provides advice and                            Troy Ohio 45373
                                                   counseling for Ohio foreclosures.                    937 339-1014 / www.troycommunityworks.com

				
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