Foreclosure Prevention Counseling
NOTE: Glossary words are highlighted. Click on any glossary word to see its definition.
What is foreclosure prevention counseling?
Foreclosure prevention counseling is a free service for Massachusetts homeowners who are in trouble with their house loans or might be in trouble in the future.
Foreclosure counselors provide advice and services to help homeowners avoid foreclosure. Counselors review your mortgage and finances with you, discuss your options, and help you find a solution that is best for you.
What are the benefits of foreclosure counseling?
Foreclosure counseling programs offer these services to homeowners at risk of foreclosure:
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Negotiation services: Foreclosure counselors will talk to your current lender to try to work out a repayment plan that you can afford. The counselor might ask your lender to lower the mortgage interest rate, forgive part of the loan, or give you more years to repay the loan.
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Refinancing services: Counselors will try to find a new mortgage loan for you that fits your budget, so you can refinance and keep your house.
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Legal assistance: If your lender has broken the law and has violated your legal rights, your counselor will get legal assistance for you.
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Financial counseling: Foreclosure counselors will help you budget your money so you can make your mortgage payments on time, and also save for home repairs, utility bills, property taxes, and other home-related expenses. If you decide you do not want to keep your home, they can help you avoid foreclosure and protect your credit rating.
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Outreach: Foreclosure counseling programs do outreach to let low-income and elderly homeowners know where to go for help.
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Consumer education: Counselors teach homeowners how to recognize and avoid predatory lenders and scam artists so they do not become victims and put their homes at risk.
Important: If you are facing foreclosure, your lender will publish your name and address in the local newspaper. This is part of the foreclosure process and is required by law. Scam artists and predatory lenders may contact you and try to take advantage of you. You should always call an approved counseling agency to check any loan offers you get.
Where can I get foreclosure prevention counseling?
The following approved agencies have free foreclosure counseling programs for Massachusetts residents who are having trouble with their home loans. For most programs, you do not have to apply to get help. Just call the agency and ask to speak with a counselor.
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Homeowner's HOPE
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Homeowner's HOPE of the Homeownership Preservation Foundation is a non-profit counseling organization that helps homeowners keep their homes. All services are free. Counseling services are available in English or Spanish.
The Homeowner's Hope Hotline is open 24 hours a day.
Homeowner's HOPE Hotline: 1-888-995-HOPE
Web site: Homeownership Preservation Foundation
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National Foreclosure Mitigation Counseling Program (NFMC)
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Foreclosure counseling agencies funded by the National Foreclosure Mitigation Counseling Program (NFMC) help homeowners determine if they are eligible for Making Home Affordable refinancing or loan modification programs. The agencies help eligible homeowners submit applications to their mortgage companies. Counseling services are free.
The National Foreclosure Mitigation Counseling Program is administered by NeighborWorks America, a national nonprofit organization created by Congress to support community revitalizion efforts.
Web site: Find an NFMC Foreclosure Counselor
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HUD-Approved Agencies
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The Department of Housing and Urban Development (HUD) has a list of approved agencies that offer housing counseling services. These HUD-approved agencies offer counseling services free of charge.
Telephone: 1-800-569-4287
Agency list: HUD-Approved Housing Counseling Agencies in Massachusetts
Note: You can use the Narrow Your Search tool to find HUD-approved agencies with foreclosure prevention programs in your community.
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Homeowner Options for Massachusetts Elders - H.O.M.E.
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H.O.M.E. is a non-profit agency that helps elder Massachusetts residents keep their homes, protect their equity, and get support services so they can stay in their homes.
H.O.M.E. services are free to seniors who meet these eligibility requirements:
- Massachusetts homeowner with only one residence
- 60 years of age or older (50 if at risk of losing your home)
- Annual income less than $28,000 individual / $34,000 couple
Telephone: 1-800-583-5337
Web site: H.O.M.E.
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