Tips to save your home
Source: Massachusetts Association of Realtors

• Don’t ignore the problem. Open   letters from your lender and answer  their phone calls.

•  Find your original loan documents  and understand the agreement terms.

•  Speak to qualified advisoers.  Many  state and federal agencies offer free  guidance.

•  Understand your options. You will be  better able to find solutions once you  understand the terms of your loan and  have spoken with advisoers. Your lender  may be willing to offer loan modification options change the terms of  the loan.

• Avoid scams. Be wary of responding  to advertisements that promise: “We  Buy Houses for Cash” or “Avoid  Foreclosure.”

Four ways to  save your home
Source: Massachusetts Association of Realtors

    Forbearance plan: You may be able to bring  your loan current over a period of time to either  keep the property or give you time to market  and sell it at fair market value.
  
    Loan modification: Fine out if your lender is  willing to rewrite the terms of your loan to  address a delinquency and make your monthly  payment affordable. There may be a processing  fee.
  
     Refinancing: If you are at risk of defaulting,  you may be able to refinance your home through  governmentally-insured programs.
  
     Bankruptcy: Filing  a bankruptcy petition  automatically stops a lender from foreclosing  without permission from Bankruptcy Court to proceed.

Help is out there
   These agencies can provide foreclosure information  and assistance:
    Quincy Community  Action Program, 1509  Hancock St, Quincy, 617- 479-8181.    
    South Shore Housing  Development Corp.,  Kingston, 781-422-4200.
    Brockton  Neighborworks, Brockton.  Includes foreclosure  services formerly provided  by
    Neighborhood Housing  Services of the South  Shore in Quincy.
    Neighborworks and  Homeownership  Preservation Foundation  Hotline
    Available in English and  Spanish, 888-995-HOPE (4673)
    Foreclosure Relief Pro  Bono Attorney Hotline  1-800-342-5297 or 617-603- 1700
    The Division of Banks  Mortgage Hotline 1-800-495-BANK (2265)
    U.S. Department of  Housing and Urban  Development, includes  HUD-approved counseling 
    organizations. 1-800-569-4287 or 800-877- 8339
    Information on  foreclosure prevention  sessions