Foreclosure Prevention

Our experienced homeownership counselors can help you to avoid foreclosure and stay in your house. Our services are free of charge and available to all homeowners in the New Orleans area who may be at risk of losing their homes. Beware of any services that offer to help you stop a foreclosure but require you to pay a fee first.

If you are behind on your mortgage payments, struggling to keep up, or facing an interest rate adjustment, there may be options available to you. Our counselors can help you come up with a solution, and negotiate with your lender for:

• Forbearance: A temporary deferment or reduced monthly payments while you get back on your feet

• Repayment plan: An agreement to catch up on any missed payments over a specific time period

• Loan modification: A permanent change to your loan terms to make your payments more affordable

• Assumption: Another person can take over making payments on your loan

• Other options depending on the type of loan include partial and advanced claims

If you feel like you don’t want to keep your house, we can help to limit the negative effects of a foreclosure by negotiating with your lender for:

• Short sale: Lender agrees to accept less than what you owe on the mortgage to complete a sale

• Deed-in-lieu of foreclosure: Lender agrees to take back your house without going through the foreclosure process. They may offer you money to pay for moving expenses and rental deposits

Before contacting us, you can complete our application and send it to us. Any information we receive from you or on your behalf will be kept completely confidential and will only be shared with third parties with your written authorization. Once we receive your application, we will contact you within 24 hours. You may also call us at (504) 596-2100 or toll-free (877) 445-2100 to speak to a counselor.

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