The U.S. Treasury has issued the following press release
regarding relief for responsible homeowners. With detailed
program requirements, servicers can now begin `Making Home
Affordable' loan modifications.
Click here to read the press release in its entirety.
Don't ignore the problem. The situation can often be fixed
if you act quickly. There are many options for foreclosure prevention.
- Get housing counseling. This should be your first step
- These agencies will work with you for no cost:
- Call the bank or mortgage company's loss mitigation
- Don't talk to the collections department.
- Be insistent.
- Explain your situation.
- Stay in your home. You may not qualify for assistance
if you leave.
SEMCOG offers ideas and suggestions for local government
- Don't fall for foreclosure recovery scams.
- Don't pay a fee for services you can get free (counselors
- Don't sign your deed over to anyone. you my still be
responsible for the loan!
- Don't sign a document appointing someone to represent you.
- Don't make a quick decision under pressure.
- Don't sign papers with blank spaces.
- Don't fall for "We're the only ones who can help you".
You will lose your home and your credit rating if you do
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The City of Ferndale, Michigan
300 East Nine Mile Road
Ferndale, Michigan 48220
City Hall Hours:
Monday - Thursday 8:00am - 5:30pm
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