These are difficult times for Michigan. Our economy is struggling, and millions of families have been affected. I have been contacted by many facing financial difficulty due to falling home values, mortgage rates adjusting higher, or even foreclosure.
Even if you’re not dealing with these issues, you may know someone who is. In this volatile housing market, I want to make sure that everyone knows how to cope with the challenges of homeownership, and what resources are available if you find yourself in trouble.
If you are worried about making your mortgage payments,
![Don't Panic](https://webarchive.library.unt.edu/web/20090112071247im_/http://www.house.gov/levin/images/panic2.jpg)
Many who start to fall behind on their payments get into more trouble by leaving mail unopened or avoiding phone calls from their lenders. If you know that your payments are past due, there is nothing worse than doing nothing. Communicating with your lender is essential – ignoring the problem won’t make it go away. Make sure to open any notices sent by mail, and pick up the phone.
![Reach Out](https://webarchive.library.unt.edu/web/20090112071247im_/http://www.house.gov/levin/images/reach2.jpg)
Need help figuring out what your options are?
Talk to someone you can trust. Don’t rely on “foreclosure prevention” companies that charge fees for advice you can get for free elsewhere, or scam artists who want you to sign away your property rights. Make sure your best interests are being protected.
Call the Save the Dream hotline toll-free at 866-946-7432, where you can speak to experts at the Michigan State Housing Development Authority and find out about free or very low-cost housing counseling funded by the U.S. Department of Housing and Urban Development. Here a some HUD-approved housing counselors in Macomb and Oakland County:
If the interest rate has reset on your adjustable rate mortgage, see if you qualify for refinancing through FHASecure, a program offered by the Federal Housing Administration. Even if you’re already falling behind on your payments, you might still have a second chance to lower your monthly payments. Find out more by calling 800-CALL-FHA (800-225-5342).
GreenPath 888-860-4167 (toll-free) Offices in Roseville, Southfield, and Troy Michigan State University Extension Services 586-469-5180 Clinton Township Christian Credit Counselors 800-557-1985 (toll-free) Southfield For Oakland County residents: Oakland County Housing Counseling 888-350-0900 (toll-free) Pontiac
Oakland Livingston Human Service Agency (OLHSA) 248-209-2600 Pontiac
If you are facing foreclosure, contact your lender and ask to speak to their loss mitigation department. You may be able to save your home by going over your income and budget with your lender. If you have private mortgage insurance (PMI), you may be entitled to a partial claim. Always keep notes of the time, date and person you talked to, and confirm any agreements in writing.
![Know Your Rights](https://webarchive.library.unt.edu/web/20090112071247im_/http://www.house.gov/levin/images/rights2.jpg)
If you feel that you might need a lawyer rather than a housing counselor, contact a Lawyer Referral Service through the State Bar of Michigan.
In Macomb County: In Oakland County: (586) 468-8300 (248) 338-2100
The Legal Aid and Defender Association offers free legal services for low- to moderate-income or senior residents of Macomb, Oakland, or Wayne County. Their toll-free number is (877) 964-4700.
![Spread the Word](https://webarchive.library.unt.edu/web/20090112071247im_/http://www.house.gov/levin/images/spread2.jpg)
Please share this information with anyone you think may need help by forwarding this email or printing it out for others to read. If you need further assistance, please visit my constituent services web page or contact my District Office at (586) 498-7122 with any questions or concerns you may have.
|