How can I protect myself from foreclosure if I'm unemployed?

If you are unemployed and facing foreclosure in New York, there are several steps you can take to protect yourself from foreclosure. The first option is to contact your local HUD-approved housing counseling agency or a local legal aid office for help. These organizations can provide you with free advice and services, such as creating a budget and connecting you with resources to help you make your mortgage payments. Your second option is to contact your lender and explain your situation. Your lender may be able to provide you with loan modifications or forbearance to help you during your period of unemployment. You should also ask your lender about special programs like the Home Affordable Modification Program (HAMP), which can help you avoid foreclosure. Finally, if you are unable to work out a payment plan with your lender, you may want to consider filing a Chapter 13 bankruptcy. This will stop all foreclosure proceedings and force the lender to negotiate a payment plan with you. If you cannot make the payments outlined in the plan, the court may be able to reduce your payments or forgive some of the debt. No matter your situation, you should not delay seeking assistance. A foreclosure can have serious long-term financial consequences, so it is important to make sure that you take all steps necessary to protect yourself.

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How can I protect myself from foreclosure if I'm unemployed?

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