1. What is the first thing that people should do who are struggling to make their mortgage payments? Contact the company that services your loan. Foreclosures cost them money. The company may be willing to adjust payment schedules to help you.
2. What else can you do? You can also contact a third-party counseling agency. To find one, look in the phone book, call the Department of Housing and Urban Development at (800) 569- 4287 or contact the national nonprofit group, the Home Ownership Preservation Foundation, at (888) 995-HOPE (888-995-4673).
3. Can an attorney assist you with a potential foreclosure situation? Yes. Bankruptcy attorneys know all the ropes in these situations and can assist you in making the best decisions and may be able to help you in reschedule your debt and keep your home. You must act quickly.
4. Many people who have lost their homes complain that they were misled about the purchase, contract and sales documents. What can be done in cases such as these? If you believe your home purchase may involve illegal or unethical work by real estate professionals, contact:
N.C. Appraisal Board: 919-870-4854 or www.ncappraisalboard.org.
N.C. Banking Commission (which licenses loan officers and mortgage brokers): 919-733-3016 or www.nccob.com.
N.C. Real Estate Commission: 919-875-3700 or www.ncrec.state.nc.us.