2/24/2011 10:58 AM (PST)

Please contact HUD at www.makinghomeaffordable.gov before you give ANYONE the last 5,000 that you have in the world. They will not take your money, but can help you determine whether you even qualify for a loan modification. Too many people want to game the system and cheat the bank; they usually end up getting gamed themselves. If your situation DOES qualify, HUD can help you get there without getting robbed in the process.

2/24/2011 1:10 PM (PST)

In general, we recommend that if you are having trouble making your mortgage payments we would recommend that you first seek a loan modification through a HUD approved non-profit housing counselor ASAP. If you are in CA you may qualify for one of the state's Mortgage Assistance Programs that have been launched this year. Call 888-954-KEEP (5337) to see if you qualify.

Check our Facebook page for more information on these (and become a fan):
http://www.facebook.com/Los.Angeles.BBB

If you don't qualify for the CA state programs, they will probably refer you to the national foreclosure prevention hotline to speak with a HUD certified housing counselor who can evaluate your housing options, open lines of communication with mortgage lenders, negotiate a loan modification, and help you with household budgeting, all at no cost.

National Foreclosure Prevention Hotline: 888-995-4673 (Remember, if you are a CA resident start with the state of California's special number for CA mortgage assistance programs: 888-954-KEEP (5337)