Myth #2: Get the Facts on Foreclosure

This is the second video in our Get the Facts on Foreclosure series focusing on the myth that you should stop making your mortgage payment to get assistance.

Don't stop paying your mortgage! You do not have to be behind on your mortgage payments to get help. In fact, if you choose to stop making your payments, you may increase the chance of losing your home to foreclosure and face credit problems that can take years to repair.

Be sure to watch the next video in our series where we address the myth that missing just one mortgage payment will cause you to lose your home.

For more resources on getting help with your mortgage, go to: http://www.freddiemac.com/avoidforeclosure/

Category:

Education

Tags:

• Avoiding Foreclosure
• Freddie Mac
• Foreclosure Help
• Making Home Affordable
• Housing Counselors
• Mortgage Modification
• HAMP
• Refinance
• Foreclosure Alternatives
• Mortgage Workouts
• Mortgage Help

[Beingreal40]

The answer is true. I called lender in Nov. of 2008 sending bank statements, taxes, and Hardship letter. I was ignored until March of 2009 when I stopped making payments. The debt collector. I requested to speak to the Retention Department. Debt collector said make a payment by phone and I'll connect you. I did. She hung up on me. I was right back to calling back getting automated responses and put on hold as in months before. The answer is true. They wont stop calling you once your in default.

[breckandy]

This is funny. Try getting hold of someone at your mortgage Co. if you are current on your payments. They won't talk to you.

[xpertadvice4u]

Dwight...It is unfortunate that the larger banks are still "inferring" that homeowners must be at least 60 days late to be considered for a loan modification. Just call CitiMortgage, BofA, WF and Chase...you may be surprised...Keep up the good work with these videos.