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

If you are unemployed and facing foreclosure in Texas, there are several ways you can protect yourself. First, you may be able to apply for a "hardship forbearance" in which your lender agrees to lower your monthly mortgage payment or stop charging you interest for a period of time. You may also be able to negotiate a repayment plan with your lender to help you catch up on your delinquent payments. If you are unable to work out an agreement with your lender, you may be eligible for a loan modification program, which can permanently lower your mortgage payments and may extend the length of your loan. Additionally, you may be able to take advantage of foreclosure defense laws in Texas, such as the Texas S.B. 1818 Act. This law provides additional time for individuals that are facing foreclosure to resolve the issue, while also requiring lenders to contact borrowers and inform them of possible foreclosure prevention options. Finally, you may be able to take advantage of government programs, such as the Home Affordable Modification Program or the Making Home Affordable Refinance Program. These programs help homeowners that are facing foreclosure to refinance their mortgages or modify their payments, allowing them to stay in their homes.

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

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