Stop Home Foreclosure FAQs

• Q: How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?
  A: You should call your mortgage lender or servicer (the organization to whom you make your monthly mortgage payments) and ask about the program. Both Fannie Mae and … More
• Q: What is a 'short sale'?
  A: A “short sale” is an option for a homeowner to avoid foreclosure when they can no longer afford the mortgage on the home.   In a short sale, a … More
• Q: Will refinancing my mortgage under the Home Affordable Refinance Program, or other programs, reduce the amount that I owe on my loan?
  A: Refinancing your mortgage under the Home Affordable Refinance Program will not reduce the amount you owe on the mortgage. The objective of the Home Affordable … More
• Q: How long do I have to try to sell my house as a 'short sale'?
  A: it depends on your lender's requirements and whether you qualify for any special government sponsored programs helping homeowners avoid foreclosure.   … More
• Q: Can any property be sold as a 'short sale'?
  A: typically, if there are any junior liens, mortgages or other debts against the property, those must be cleared first before the property  can be sold as a … More
• Q: Why Would a Lender Agree to a Short Sale?
  A: Banks and other lenders generally agree to short sales in order to avoid having to foreclose on a property and take it into their inventory. Most lenders would rather … More
• Q: What is a Short Sale?
  A: A short sale is where a homeowner sells their home for less money than they owe on the property. The owner of the home negotiates a discounted payoff with their … More