Facing foreclosure has become a reality for many Tampa Bay area residents. The fact that homes sales did rise last month is no consolation to many home owners that facing the foreclosure of their homes.
There are some steps that homeowners can take as they get behind on their mortgage payments. The Federal Housing Administration has provided a few steps for families as they begin to feel a money crunch that prevents them from paying their mortgage.
- Contact your lender as soon as you have a problem
- Talk to a housing counselor
- Prioritize your debts
- Explore loan workout solutions with your lender
- If keeping your home is not an option
- Beware of predatory lending schemes
Florida and the Tampa Bay area have several Hud approved housing counselors.