Foreclosure is the legal process by which a lender repossesses property.  If you fail to make your mortgage payments in a timely manner, your lender may initiate the foreclosure process on your home.  A foreclosure can seriously affect your ability to qualify for credit in the future.

If you are struggling to make your mortgage payments, do not ignore your lender’s attempts to contact you.  Get in touch with your lender and explain your situation.  You should be prepared to provide them with financial information, such as income and expenses.  Your lender’s loss mitigation department may be able to help you keep your home.

Along with contacting your lender, you may also with to reach out to a housing counseling agency approved by the U.S. Department of Housing and Urban Development ("HUD"). These counseling agencies frequently have information on services and programs offered by government agencies as well as private and community organizations that may be able to help you. They may also offer credit counseling. Often, the counseling agencies provide these services free of charge. To locate a HUD approved housing counseling agency near you, please visit

HUD provides information on some foreclosure avoidance strategies and tools.   Please be aware that some of the options may only be available to you if you have an FHA insured mortgage loan.  However, there is valuable guidance for all homeowners in danger of losing their homes.  For more information, please visit

The Georgia Attorney General’s Department of Consumer Protection has put together a resource with answers to frequently asked questions about mortgages and foreclosures at

Fannie Mae and Freddie Mac are government-sponsored enterprises that buys home loans from lenders in the secondary market and provide resources to assist homeowners who may be struggling to make their home mortgage obligations.  For more information about your options, please visit Fannie Mae’s website at, as well as Freddie Mac’s website at

For information on “foreclosure rescue” or other loan modification scams, please visit “Foreclosure Rescue/Loan Modification Scams.”