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Category: Info for consumers |
Published

As foreclosure protections end, it’s time to work with your mortgage servicer

We have temporarily updated our rule for most mortgage servicers to require them ─ when they reach out to borrowers who are behind on their loans or in forbearance ─ to tell borrowers about their options to avoid foreclosure. Learn why you should contact your mortgage servicer if you’re struggling to make your payments.

Category: Info for consumers |
Published

New protections for servicemembers and veterans alert

A recent law provides additional protections for servicemembers affecting VA refinances, medical debt on credit reports, credit monitoring, and stays on foreclosure. Here’s what to look for in the new laws and when they go into effect.

Category: Info for consumers |
Published

Lo que debe saber si se enfrenta a una ejecución hipotecaria (foreclosure) luego de un desastre natural

Si como consecuencia de un desastre natural usted tiene dificultades para hacer sus pagos  hipotecarios o no puede cumplir con las obligaciones de una hipoteca inversa (reverse mortgage) tales como impuestos o seguro, existen recursos y opciones que potencialmente pueden ayudarle a evitar una ejecución hipotecaria (foreclosure).

Category: Info for consumers | Category: Policy and compliance |
Published

We’ve updated our mortgage servicing rules to provide greater protections for mortgage borrowers and other homeowners

Today we finalized new changes to our mortgage servicing rules. These updates ensure that mortgage servicers treat homeowners and struggling borrowers fairly.  They also provide servicers with greater clarity about how to comply with the rules.

Category: Policy and compliance |
Published

Proposed changes to our Mortgage Servicing Rules: New protections for surviving family members and other homeowners

Since the Mortgage Servicing Rules went into effect, we’ve spent a lot of time talking to consumer advocacy groups, housing counselors, mortgage servicers, and trade associations, to better understand how the rules are working and whether we should make any changes to them. As a result, we’re now proposing some changes to the Mortgage Servicing Rules. The changes are intended to smooth the path for companies to better protect consumers and comply with the CFPB’s rules.

Category: Info for consumers | Category: Policy and compliance |
Published

Consumer advisory: Don’t fall for a foreclosure relief scam or bogus legal help

Along with other cases from federal and state partners, today we charged that mortgage rescue scammers have taken $25 million in illegal advance fees from consumers. It serves as a reminder of how important it is to watch out for scam artists trying to take advantage of people who need help avoiding foreclosure. Read more to learn how to protect yourself from these scams.

Category: Info for consumers | Category: Policy and compliance |
Published

Explainer: What the multi-billion dollar Ocwen enforcement action means for you

We’re taking action against Ocwen Financial Corporation for years of systemic misconduct that includes unfair shortcuts, unauthorized fees, deception, illegal foreclosures, and other illegal practices. Ocwen will be required to provide $2 billion in loan modification relief to its customers and $125 million in refunds to consumers whose homes were foreclosed. Learn more about what this might mean for you.

Category: Info for consumers |
Published

Foreclosure help is free, and scams are expensive

If you’re having trouble paying your mortgage, we can help you get connected to a HUD-approved housing counselor at no cost to you. The counselor can help you work with your servicer or lender to try to avoid foreclosure, organize your finances, understand your mortgage options, and find a solution that works for you.

Learn more.

Category: Info for consumers | Category: Op-ed | Category: Policy and compliance |
Published

Help for Military Homeowners

The No. 1 topic they’ve raised with me is the decline in home values and the frightening prospect that – if their home is underwater – a Permanent Change of Station, or PCS, move will ruin their finances and put their security clearance at risk.