How to Stop a Foreclosure in Jacksonville, Florida

A nonprofit credit counselor can help you stop a foreclosure in Jacksonville, Florida. Consumer Credit Counseling Service of Jacksonville and Habitat For Humanity of Jacksonville are approved by the U.S. Department of Housing and Urban Development to provide emergency foreclosure avoidance advice. The counselors can contact your lender directly and ask for a delay in the foreclosure proceedings while you and the counselor prepare a formal proposal to take to the lender.

Instructions

1

Call your lender immediately and inform the lender that that you wish to stop your foreclosure and that you will be meeting with a HUD-approved housing counselor. Tell the lender that you will call back with the counselor on the line within a few days.

2

Make an appointment with a HUD-approved counselor. Check the HUD website for a counselor in Jacksonville (see Resources).

3

Gather statements, late notices and other correspondence related to your foreclosure situation. Also, pull a copy of your credit report from AnnualCreditReport.com, which is authorized by the Federal Trade Commission to offer free reports. You are entitled to three free reports every year from the site under the terms of the Fair Credit Reporting Act. Visit the website to view and print your report (see Resources).

4

Share your credit report and foreclosure information with the counselor during your appointment. The credit report will list debts, such as credit card accounts, possibly alerting the counselor to suggest a long-term plan for getting your debt under control. That can be done in conjunction with crafting a foreclosure prevention plan.

5

Discuss options for stopping the foreclosure, including a loan modification that could lead to your loan being completely restructured by the lender. The interest rate could be lowered and switched from variable to fixed, and more months could be added to the term of the loan to make the payments even lower. The lender may also agree to an option called repayment, which will allow the foreclosure to stop while you make up for missed payments by paying a little extra each month. Discuss other options with the counselor as well.

6

Follow advice from the counselor for the best foreclosure avoidance plan based on your situation. Authorize the counselor to call the lender with a proposal. Actively participate in the call as you explain your financial situation and your plans for getting back on track. Schedule follow-up calls with the lender and counselor as needed while you work toward a solution for permanently stopping the foreclosure. Request the terms of any agreement in writing.