The Center For Debt Management
Debt Relief

Debt Consultation

Debt Settlement

Debt Consolidation

Debt Management

Credit Counseling

Filing Bankruptcy

Budget Software

Tax Debt Relief

Student Debt

Business Debt

Stop Foreclosure

Credit Report

Legal Resources

Credit and Financing

Financial Resources

Income Resources

US Tax Center

Insurance Center

Financial Library

Financial Bookstore


More Options To
Avoid Foreclosure

President Obama’s Making Home Affordable Program can help struggling homeowners keep their homes by making their mortgage payments affordable. But the program will not help everyone.

If you are not eligible for a Making Home Affordable Refinance or Modification, your mortgage company or HUD-approved housing counselor may suggest other options that are available to you. These options may include:

  • Forbearance: Under a forbearance agreement with your mortgage company, you pay a portion of your regular payment or no payment at all for a specific period of time. At the end of the forbearance period, you begin making regular payments as well as an additional amount to pay off the past-due amount.

  • Repayment Plan: If you have missed payments, your mortgage company may be able to help you catch up by creating a schedule for repaying the past-due amounts.

  • HomeSaver Advance™: If your mortgage is owned by Fannie Mae and your missed payments are due to a temporary financial hardship, you may be eligible for an unsecured personal loan to help you get current with your payments.

However, if you cannot afford your home over the long term, you may need to sell the home and move to housing that you can afford. While this means giving up your home, you may still be able to avoid foreclosure. Discuss these alternatives to foreclosure with your mortgage company:

  • Pre-foreclosure Sale: If you cannot sell your home for the amount necessary to pay off the mortgage loan, ask about a pre-foreclosure or “short” sale. In certain situations, the servicer may be willing to accept a payoff amount less than what you owe on the mortgage balance.

  • Deed-in-lieu of Foreclosure: If you cannot sell your home in a reasonable amount of time, your mortgage company may allow you to voluntarily transfer the deed to the property to the mortgage company.

If you are unable to reach your mortgage company, the company is unable to help or you are not yet delinquent but think you may be unable to make future payments, contact the Homeowners HOPE™ Hotline at 1-888-995-HOPE (4673). Experienced counselors can help you consider the best plan of action for your financial situation.

Over 2,000 Pages of Content
Center For Debt Management

Center For Debt Management

The Center For Debt Management

Helping Consumers Save Money and Reduce Debt Is Our Only Business!

We invite you to explore the sectors listed below. We promise that you'll find exceptional values, offers and resources to reduce your living expenses and to enjoy life! But First—if you're over-your-head in debt—get a free no-obligation debt consultation right now!

Debt Management and Financial Services! The Internet's oldest and most comprehensive debt management agency! Resources for debt management, consumer credit counseling, debt consolidation loans, debt settlements, legal aid, financial aid, credit and financing, credit reports, budget software, insurance, income resources, tax assistance and more. Get out of Debt! Call Now — 1800DEBT.COM

Established In 1989 and Serving The Online Community Since 1992!

Get Out Of Debt: Call

Center For Debt Management