Foreclosure Prevention Resources
- Buying a Home – Nine steps to buying a home.
- Cancellation of Private Mortgage Insurance: Federal Law May Save you Hundreds of Dollars Each Year – The Homeowners Protection Act of 1998 establishes rules for automatic termination and borrower cancellation of Private Mortgage Insurance on home mortgages. Find out if you qualify.
- Consumer Handbook to Adjustable Rate Mortgages – Find out about the risks and advantages of an adjustable rate mortgage. Use the Mortgage Checklist to help with your decision. Handbook is designed to help consumers understand an important and complex mortgage option available to homebuyers.
- Interest-Only Mortgage Payment and Payment-Option ARMs --
Are They for You?
to Manage Your Mortgage If Your Lender Closes or Files for Bankruptcy – Helps consumers evaluate what to expect in today's mortgage market.
- Looking for the Best Mortgage – Looking for the Best Mortgage?: A guide to shopping for a mortgage to help you get the best financing deal.
- Looking for the Best Mortgage – Use these three steps to save money on a mortgage or home loan. Includes a mortgage shopping worksheet.
- Looking for the Best Mortgage? Shop, Compare, Negotiate – Comparing costs and rates and negotiating for the best terms can save you thousands of dollars. Includes a mortgage shopping worksheet..
- Mortgage Comparison Calculator – Compare monthly mortgage payments and the amount of equity you'll build for up to six types of fixed- and adjustable-rate
- Mortgage Discrimination. – Explains your rights under Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), and what to do if your loan is rejected.
- Mortgage Servicing: Making Sure Your Payments Count – Explains mortgage servicers' responsibilities, in particular under the RESPA enforced by HUD; urges consumers to keep records of their payments, insurance coverage, and other information; explains how consumers can file disputes with their loan servicer; and includes sample letters that consumers may use when filing a dispute with their lender/servicer or with a credit bureau.
- Private Mortgage Insurance – If you are a homeowner, you will want to be aware of a law that establishes rights for homeowners and rules for lenders regarding private mortgage insurance (PMI) cancellation
- Publications – Home ownership & mortgage publications available
from the Federal Reserve.
- Publication about non-traditional mortgage products.
- Reverse Mortgages: Get the Facts Before Cashing in on Your Home's Equity – Explains how reverse mortgages (RMs)
can help older homeowners who are “house-rich but cash-poor” remain
in their homes and still meet their financial obligations. Explains how the three
types of RMs work: single-purpose, federally-insured, and proprietary; and how
to get a good deal, and where to complain.
- What is the Relationship Between the Discount Rate and Mortgage Rates? – A change in the short-term discount rate may not affect interest rates on long-term mortgages.
- Understanding the Home Mortgage Process – Shop for the mortgage package that best meets your financial needs.