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Foreclosure Prevention

FORECLOSURE PREVENTION EVENT - Fannie Mae and the City of Chula Vista are sponsoring a free outreach event for all Fannie Mae owned loans on April 15 and 16, 2011.  For a flyer on the event, click here.
Para información en español sobre el guía para evitar el embargo de su propiedad (foreclosure) selecione aquí.
Are you experiencing difficulty in making your mortgage payments?  If so, act now!  Here are some tips to prevent credit trouble or foreclosure.


What should I do if I miss a mortgage payment?  Or even before?

  • Call for help.  More than half of homeowners facing foreclosure did not call for help when they fall behind in their payments.
  • Don't make a bad situation worse. Ignoring your situation won’t make it go away.
  • Notify the bank as soon as you know your payment will be late. Calling when you are 30 or 60 days late is better than calling when you are 120 days late.
  • Work it out. Depending on the situation, the lender may lower the interest rate, lower the payment, or enter into a repayment agreement.
  • Avoid foreclosure rescue scams by calling a reputable nonprofit organization.  For a list of known scams, click here.  HOPE for Homeowners is an independent resource that is part of a HUD-certified network dedicated to helping homeowners.
For additional information on foreclosure prevention visit the U.S. Department of Housing and Urban Development (HUD) webpage by clicking here.


Who do I contact?


Housing Opportunities Collaborative - To talk with a certified counselor or find out when the next foreclosure prevention HOME Clinic is, contact the Housing Opportunities Collaborative.  HOME Clinic’s provide an opportunity to receive one-on-one counseling from foreclosure experts. 


Foreclosure Prevention Center - Community HousingWorks offers a Foreclosure Prevention Center to provide you access to mortgage assessors and foreclosure counselors.  To access the Center, click here or call (619) 282-6647 x5468.  Ask about office hours in Chula Vista!


HOPE Hotline - For extremely distressed households, call 888-995-HOPE.


Making Home Affordable - The Obama Administration's Making Home Affordable website offers self-assessment tools for homeowners to determine whether they are eligible for loan modification and refinancing programs and calculate the monthly mortgage payment reductions.   To access the website, click here.