New Start for Homeowners

On March 4, President Barack Obama announced the details of a bold new U.S. government plan to help keep people in their homes and make lower-rate mortgage refinancing available to more borrowers. Details of the New Start for Homeowners initiative are available on these pages.

Need Help Now?

If you are having difficulty paying your mortgage on time, call your lender – also known as a servicer – now! It’s important to act now before things get so bad that you are facing foreclosure. Your biggest ally if you encounter difficulty paying your mortgage on time is often your lender. Don't wait – call them as soon as you know you are having problems.

Your lender has a number of options to help you stay in or sell your home. These options include forbearance, repayment plans and loan modifications – as well as relief under the Presidents New Start for Homeowners plan, which covers:

Refinance: The plan will help homeowners refinance their existing mortgages to take advantage of today’s lower mortgage rates and lower their monthly mortgage payment.

Modification: The plan will help qualified homeowners acquire a mortgage with payments they can afford.

How Can I Qualify for the President’s Program?

Take our quick self-assessment to determine if you may qualify for streamlined mortgage loan modification or mortgage refinancing

Beware of Foreclosure Rescue Scams

Beware of anyone who asks you to pay a fee up front in exchange for a counseling service or modification of a delinquent loan. Beware of people who pressure you to sign papers immediately, or who try to convince you into believing that they can “save” your home if you sign or transfer over the deed of your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt. Never make your mortgage payments to anyone other than your mortgage company without their approval.