n www.hud.gov, click on Homes, Avoid Foreclosure

n Contact a HUD-approved counselor in any state, 1-800-569-4287; TTY, 1-800-877-8339

HUD-approved counselors in Frederick

Frederick Community Action Agency

Address: 100 S. Market St., Frederick 21701

Phone: 301-600-1506, fax, 301-662-9079

E-mail: mspurrier@cityoffrederick.com

Web:www.cityoffrederick.com/departments/CAA/Agency.htm

Consumer Credit Counseling Service of Greater Washington

A division of Money Management International

Frederick office: Suite 404, 1003 W. 7th St.,Frederick 21601

Phone: 301-695-0369; TTI, 1-800-747-4222;fax, 301-695-4878

E-mail: lori.johnson@moneymanagement.org

Web: www.creditcounselingnetwork.org

If you can't make your mortgage payment

1. 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.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times. --

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. 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. Learn the foreclosure laws and timeframes in your state by contacting the state government housing office. --

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention, also called loss mitigation, options can be found on the Internet at www.fha.gov/foreclosure/index.cfm.

6. Contact a HUD-approved housing counselor.

The U.S. Department of Housing and Urban Development (HUD) funds free or very low-cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance.

7. Prioritize your spending.

After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending to make your mortgage payment. Look for optional expenses that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

8. Use your assets. --

Do you have assets -- 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 an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home. --

9. 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 businesses, they will charge you a hefty fee -- often two or three month's mortgage payment -- for information and services that your lender or a HUD approved housing counselor will provide free.

10. 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 well be signing over the title to 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.

Source: U.S. Department of Housing and Urban Development

SUBPRIME LENDING & FORECLOSURES Homeowners around the nation are struggling to make mortgage payments, and Frederick County is no exception. The map below show the area with the lowest and highest concentration of subprime mortgage loans. Click the map for a larger image. SEARCHABLE DATABASE Search the list of foreclosures filed in Frederick County Circuit Court from Jan. 1 to March 18, 2008. BIZ BLOG Business editor Cliff Cumber blogs about the project. Click here to check out his blog. THE ECONOMY & ME This new online-only section houses all sorts of stories that come our way on the economy, as well as tips consumers can use to stretch their dollar a little bit further. Click the graphic to go to the section. RELATED STORIES Foreclosure: A far-reaching problem Published on May 04, 2008 Ellen Scrivens reminisces about the house that she lost due to foreclosure last August that is located off Burning Bush Drive.more » Getting hit from all sides Published on May 04, 2008 In 2006, 455 foreclosures were filed in Frederick County Circuit Court. In 2007, that number more than doubled to 1,025. more » Officials seek to help foreclosure victims Published on May 04, 2008 People facing foreclosure, or who know someone who is, will have the opportunity Monday night to hear from someone who can help. more » Comptroller: state efforts to stem Published on May 04, 2008 The effect of the foreclosure crisis will hit hardest at local budgets, according to the state's chief tax official. more » Borrowers' euphoria clouded subprime risks Published on May 04, 2008 People were so happy to be in a home that the risks of the subprime loans they signed up for went right over their heads. more » Budgeting measures may protect county from foreclosure trouble Published on May 04, 2008 With conservative budgeting, Frederick County is prepared financially for effect from the local economy caused by the foreclosure crisis. more » Signs of trouble Auctioneers saw dangers of subprime loans coming Published on May 04, 2008 Auctioneers saw it coming. They knew the subprime loan frenzy would cause many homeowners to mortgage their futures. more » Commercial real estate market ‘cautious’ Deputies notice rise in evictions and foreclosures Published on May 05, 2008 Deputies notice rise in evictions and foreclosures Frederick County Sheriff's Deputy First Class Kevin Eyler posts a final eviction notice on a residence door shortly before the door is opened and the contents are carried to the street. more » Commercial real estate market ‘cautious’ Minimal subprime impact expected Published on May 05, 2008 Frederick County's commercial real estate market remains strong, but cautious, and experts predict that the foreclosure crisis rocking residential real estate will have a limited impact. more » Foreclosure: Taking a wider look Published on May 05, 2008 The foreclosure problem is having an impact on the Frederick community -- to what extent, and what may lie ahead for Frederick County, is still up in the air. more » Bargain bus offers tours of foreclosed homes Published on May 05, 2008 Anyone interested in buying a home facing foreclosure can save time and gas by boarding the Bargain Bus. more » Tips on buying a new or foreclosed home Published on May 05, 2008 Tips for buying a new home: be approved by a reliable lender; make sure you get enough of a price cut to cover unnoticed damage or deferred maintenance and repairs; look for the homes on the market the longest (90 to 120 days) for the best deals; pay for your own inspection and, real estate agents advise, be patient. more » How and where to get help Published on May 05, 2008 HUD foreclosure prevention. more »