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A home is often a family's most valuable possession. Preventing avoidable foreclosures helps keep families in their homes, preserves communities, and prevents avoidable loss. The "Making Home Affordable" plan provides responsible homeowners with support to obtain affordable refinancing or loan modifications to help them stay in their homes.
Visit the "Making Home Affordable" program website for more information about the administration's program to assist troubled homeowners with refinancing or loan modifications.
If someone offers to negotiate a loan modification for you or to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience; watch out for warning signs of a scam; and always maintain personal contact with your lender and mortgage servicer. Your mortgage lender can help you find real options to avoid foreclosure. It is important to contact your mortgage lender early to preserve all your options. There are legitimate consumer financial counseling agencies that can help you work with your lender. Learn more about Mortgage Fraud targeting homeowners, including foreclosure rescue scams.
The Protecting Tenants at Foreclosure Act (PTFA) offers protections for tenants residing in foreclosed properties. The PTFA ensures that tenants have clear and fair treatment in the event of foreclosure and prevents wrongful evictions, fostering stability for renters during a time of uncertainty.
To learn more, visit Federal Register -- Protecting Tenants at Foreclosure Act: Guidance on Notification Responsibilities Under the Act With Respect to Occupied Conveyance.
Consumer Fraud Awareness and Prevention
Financial Literacy Updates
OCC 2024-34, Consumer Protection: Interagency Statement on Elder Financial Exploitation
OCC 2019-28, Mortgage Lending: Risk Management Guidance for Higher-Loan-to-Value Lending Activities in Communities Targeted for Revitalization
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