Homeowner debt help

What a useful next step looks like.

1. 01

   Sort the debts and notices

   Put the mortgage and any home-equity loan on one list, and unsecured cards or personal loans on another. Record payment status, balances and deadlines. Bring foreclosure notices or court papers to a qualified attorney promptly.

2. 02

   Contact the right kind of help

   For missed or difficult mortgage payments, contact the servicer using your statement and ask a HUD-approved housing counselor about the available options. Foreclosure counseling through these agencies is free. Do not assume a card-settlement company handles mortgage assistance.

3. 03

   Compare the full written terms

   Ask how a proposed mortgage arrangement handles missed payments, interest and the payment after assistance ends. Before using home equity for cards, compare fees, total repayment and the consequences of securing that debt with the property.

Bring better questions.

• What assistance is available for this specific mortgage?
• What documents and deadlines apply to my request?
• When and how would paused or missed payments be repaid?
• What would the payment be after temporary help ends?
• Does this proposal turn unsecured debt into debt secured by my home?