Is foreclosure in your future? Even if it isn’t mortgage scam artists are preying on people’s sensitivities and asking for money to help resolve financial issues. 

Mortgage companies that are not your own would not call you about anything. That should be the first indicator that this is not a legitimate form of help. Also to have your mortgage reduced, you should not have to pay fees up front. Paying points to have a reduced rate is not the same as having someone ask for hundreds or thousands of dollars to have your mortgage adjusted.

Findaforeclosurecounselor.org helps people who are close to foreclosure get some help for free. This is a resource listed on Neighborworks America.

Just because you go through foreclosure counseling, there is no guarantee that you will avoid foreclosure, but you will not have to go further into debt trying to prevent losing your home.

Interested in refinancing now that the rates are dropping? If you purchased your home before the housing market soared and have a rate that is about 6% or so, you might not make any significant savings by refinancing. When you factor in the amount of time that you will spend paying your mortgage and associated fees, you may not make any significant gains with a lower interest rate. Also, your monthly payment may increase if you decrease the term with the additional fees. To save money over the course of your loan, making an additional payment over the course of a year will allow you to save money in interest.