Nicole Walker

What to do when someone can make the payments on their mortgage:

More and more I am being called by people who find my number or are referred to me who ask the same question. "I am having trouble paying for my mortgage. What can you do to help me?" Most of the time there is not much I can do, because the value of the home is less than it was originally purchased for or the family is too far behind on the mortgage payment. This is too much risk for another mortgage company to accept. The answer I most often give is call your mortgage company servicer and let them know that you are having trouble right away. But I want to let everyone know that this is another resource for people:

If someone is concerned and needs to get non-bias help, call the Homeownership Preservation Foundation at 1-888-995-HOPE to talk to an experienced housing counselor. Together you can develop a financial plan that addresses your situation. This counseling is free.

If someone you know is behind in their mortgage payment and needs help, check out: http://www.fanniemae.com/homepath/homeowners/in_foreclosure.jhtml

Don't wait too long. It is best to work on these types of problems before they are totally out of control. At the first sign of trouble reach out and educate yourself about possible solutions.