Can you avoid foreclosure with Government assistance?

With millions of homeowners in mortgage trouble, the US Government has introduced a program that could help up to 7 to 9 million homeowners avoid foreclosure. myFICO has partnered with the Homeownership Preservation Foundation to create a 100% free, 100% anonymous way for homeowners to find out if they may be eligible for mortgage help under the Making Home Affordable plan.

Will getting mortgage relief affect my FICO® score?

That depends on a few things such as the type of mortgage assistance you get, how your lender reports the changes to your mortgage and your overall credit profile. You should discuss the credit implications of any change to your mortgage with your lender so you know what to expect. A good practice is to get your FICO® score and credit report prior to applying for mortgage relief. You can then compare your score and report now to your score and report after your receive mortgage help to see the exactly how the changes to your mortgage affected your credit.

"Never give up. After going bankrupt, which included our mortgage of $408,000 we were able to refinance our home after it had gone to auction 5 days before foreclosure proceedings were to begin."— Dave, Bloomfield Hills, MI Read More

With Mortgage Relief Online you get:

A quick, anonymous, secure way to see if you may be eligible for mortgage relief, including a loan modification, under the government's Making Home Affordable (MHA) program. Answer a few simple questions about your situation and get instant feedback.

Personalized mortgage counseling from a HUD-approved credit counseling agency. For those who may be eligible for help under MHA, a credit counselor will walk you through a comprehensive counseling session to understand your complete financial situation and explain all the different programs you might qualify for.

Help preparing an application packet to go to your mortgage company, including advice on creating a hardship letter and what things to specifically mention when talking to them. You'll also get the names of local groups that can help you through the rest of the process.

myFICO is the consumer division of FICO. Since its introduction over 25 years ago, FICO® Scores have become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use FICO Scores to make consumer credit decisions.

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