After receiving dozens of phone calls from desperate constituents who are on the verge of losing their homes as a result of the mortgage crisis that has plagued millions of people all across the United States, Brookhaven’s 4th district representative Democrat Connie Kepert decided that something needed to be done.

Kisha Wright (Long Island Housing Partnership) Maria Sanz  (Long Island Housing Partnership) Councilwoman Connie Kepert, Maichael McCarthy  (Long Island Housing Partnership), and Jerry Lake (Vice President of Gordon Heights Civic).

   “ We have many resident’s right here in Brookhaven who are in dire straits and they need to know that help is available,” said Kepert. Information and advice were made available from representatives from the Long Island Housing Partnership.

   “These are ten things that people who are having trouble paying their mortgage need to remember, and it is very important that word gets out about these steps,” continued Kepert. These 10 tips were provided by the U.S. Department of Housing and Urban Development.

• Don’t ignore the problem. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
• Contact your lender as soon as your realize that you have a problem. Lenders do not want your house. They have options to help borrowers through difficult times.
• Open and respond to all mail from your lender. Early notices you receive will offer good information about foreclosure prevention options. Later mail may include important notice of pending legal action.
• Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can’t make your payments.
• Understand foreclosure prevention options. Valuable information about foreclosure prevention options can be found on the internet at www.fha.gov/foreclosure/index.cfm.
• Contact a HUD approved counselor. The U.S. Department of Housing and Urban Development funds free or very low cost housing counseling nationwide. HUD can be contacted at 1800-569-4287
• Prioritize your spending. After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment.
• Use your assets. Do you have a second car, jewelry, a whole life insurance policy that you can sell for cash to help reinstate your loan. Can anyone in your household get a second job to bring in additional income? Even if these efforts don’t significantly your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.
• Avoid foreclosure prevention companies. You don’t need to pay fees for foreclosure prevention help- use that money to pay the mortgage instead. Many for profit companies will contact you promising to negotiate with your lender. While these may be legitimate companies they will charge you a hefty fee (often two or three months mortgage payment) for information and services contact your lender or a HUD approved housing counselor, will provide free if you contact them.
• Don’t lose your house to foreclosure recovery scams!!!! If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may be signing over the title of your property and becoming a renter in your own home!! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.