Mortgage Foreclosure FAQ

Look at your monthly mortgage coupons or billing statements for the name of your lender and contact information.

Look on the original mortgage documents or call your mortgage lender.

Typically, yes, but call your lender to discuss your specific circumstances and get advice on options that may be available.

Typical information requested by lenders in a workout package includes a brief explanation of circumstances, recent income documents and a list of household expenses.

Through this website, you have taken the first step toward educating yourself about available options. Determine if the layoffs will cause a financial hardship that will make it hard for your family to make your mortgage payments. If so, consider other resources that you have available to pay your mortgage. Review your spending habits and see where you can reduce spending. If you have a lot of consumer debt, consider contacting a nonprofit, consumer credit counseling agency. Take advantage of any employer offered resources. If you still believe that you will have trouble making your mortgage payments, contact your lender right away.

Some workout options do include expenses that the borrower is expected to pay — for example, recording fees for a loan modification. Because every situation is different, you should contact your lender for more information. However, if a lender has no contact with a borrower and has to start foreclosure, the legal fees that the borrower will be expected to pay can be very expensive. To avoid unnecessary legal fees, call your lender as soon as you realize you are in trouble.

YES. Under PA123 of 1999, if your taxes are delinquent for two years, you lose your property.