Foreclosure Prevention Counseling

 

CHAI offers mortgage counseling and foreclosure prevention services to homeowners, who are behind on mortgage payments or at risk of falling behind in their payments. If you are in need of these services, CHAI’s Foreclosure Prevention counselors will review your existing mortgage, financial situation, and discuss options available to help you to keep your home.

 

We look forward to having the opportunity to work with you.


Although this is a difficult situation, swift action will result in better options for resolving your financial challenges. DON'T WAIT!

 

For more information or to set up a phone consultation or face-to-face meeting, contact Stephanie Davis at 410-500-5310 or e-mail sdavis@chaibaltimore.org.

 

When you meet with the foreclosure prevention counselor, PLEASE BRING THE FOLLOWING DOCUMENTS:

• Your most recent mortgage statement or payment coupon
• All materials that you have received in the mail from your mortgage company or a lawyer
• Your last two monthly bank statements
• The last two pay stubs (one month’s worth) of social security, or unemployment award letters for all household earners (if self employed, a Profit and Loss Statement for the most recent quarter)
• State and federal tax returns and W-2 forms from the previous two years
• All settlement papers, documents, disclosures from the originating lender or broker received by client prior to, or at the settlement on the property

 

TAKE ADDITIONAL ACTION:

• Contact your mortgage company and ask to speak to a representative in the Loss Mitigation Department and ask the representative to send a “loss mitigation workout package” immediately
• Keep a communication log of the date and result of every conversation


Useful links for additional information:
• Learn about typical loss mitigation options
• Learn about state resources to prevent foreclosure http://www.mdhope.gov
• Find out more about President Obama's Making Home Affordable Program: www.makinghomeaffordable.gov
• Ask your counselor about mediation options available http://mdhope.org/ForeclosureMediation.aspx
• If you have been a victim of a foreclosure scam, file a complaint with the Department of Labor, Licensing and Regulation
• If you are a tenant, read about the Rights of Tenants in foreclosure