MORTGAGES, LOANS & CREDIT
Mortgages & Foreclosures
If you are facing foreclosure or can't pay your mortgage:
- Contact your lender.Your lender may be able to temporarily reduce or suspend your payments or help you refinance with a new loan and better terms. Keep a record: Write down who you spoke to, the date, and what was said. Use registered or certified mail in any important correspondence.
- Talk to a HUD-approved housing counselor.HUD-Approved Housing Counselorsdon't charge for their services and are trained to help you explore your options. Beware of any organization that attempts to charge a fee for housing counseling or assisting with a loan modification.
- Beware of Mortgage Relief Scams.Sadly, con artists take advantage of people who are already facing financial difficulties. For more information, read ourmortgage relief scam alert.
- File a consumer complaint.If you think you've been the victim of an unfair mortgage servicing practice, file a consumer complaint.
The National Mortgage Settlement
In February 2012, Alaska announced its participation in a $25 billion federal-state settlement with the nation’s five largest servicers relating to unfair mortgage servicing practices. For information about the settlement:
For more information on mortgages: