Home mortgage debt is different from all other types of debt and can be very complicated. You should seriously consider using a professional to make sure that you don’t make costly and damaging credit mistakes. Here are a few places to look for professionals:
HOPE NOW: This organization is an alliance among counselors, mortgage companies, investors, and other players. It helps distressed homeowners work out mortgage problems so that they can stay in their homes. The folks at HOPE NOW know the ropes, have access to decision makers, and can help you with the necessary paperwork for free.
They support the Making Home Affordable Program by helping you understand your options, prepare your application, and work with your mortgage company. The U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development back this alliance. For help, call 888-995-4673 or go to Hopenow.com.
State housing authorities: Every state has a housing authority. These organizations offer help to first-time homebuyers and homeowners in crisis, referrals to counseling, and sometimes funds to cure a delinquency. Find the housing authority in your state or community for more information.
Legal/document review: One of your last resorts is to have an attorney review your loan documents. Some documents may have been drawn or executed incorrectly and may be challenged in court. A pro bono attorney may be able to help you for free.