Foreclosure Help and Information
Assistance and information for Washington homeowners who are facing foreclosure or are having trouble making their mortgage payment.
Please note that DFI cannot provide legal or financial advice. We do not endorse or recommend any person, product, or institution.
Latest News And Events
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Making Home Affordable Trial Period To Permanent Modification Deadlines
The Home Affordable Modification Program requires borrowers to enter into a Trial Period Plan before receiving a permanent Home Affordable Modification. Visit the Making Home Affordable Web site for more information about important deadlines and more.
If You're Facing Foreclosure
You may be contacted by letter or phone call from your lender that you are at risk of facing foreclosure. If you receive a letter or are contacted, try to work with your lender to assess your ability to repay the debt, and consider other options.
The letter or notice that you receive may contain phone numbers for HUD approved housing counselors (1-800-569-4287), the Department of Financial Institutions referral number to the Washington State Foreclosure hotline (1-877-894-HOME (4663)), or for legal assistance through the Northwest Justice Project that services low income persons and persons age 60 and older (1-800-997-8944 weekdays between 2 and 4:30 p.m.).
Please note that DFI cannot provide legal or financial advice. We do not endorse or recommend any person, product, or institution.
Programs & Initiatives To Help Prevent Foreclosure
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Washington State Homeownership Information Program
Free foreclosure counseling, classes, workshops, and resources available to Washington State residents.
Speak To A HUD Approved Counselor: 1-877-894-HOME
www.homeownership.wa.gov -
Obama's Making Home Affordable Program
Through President Obama's Making Home Affordable program, Washington families may be eligible to refinance or modify their loans to a payment that is affordable.
www.makinghomeaffordable.gov -
Partial Claim Program For FHA Loans In Foreclosure
If you have an FHA loan in foreclosure you may be eligible for a partial claim program. The program is called the FHA-Home Affordable Modification Program, or FHA-HAMP. The program is designed to help borrowers retain their homes and to prevent the destructive impact of foreclosures on families and communities. The program is available to borrowers who do not qualify for the existing FHA special forbearance or loan modification.
Contact your lender or servicer to see if you qualify.
Documents:
Participation Guidelines (Word)**
Hardship Affidavit (PDF)* -
FDIC Foreclosure Prevention Initiative
The FDIC has launched a program to help prevent both unnecessary foreclosures and fraudulent rescue scams by encouraging loan modification, providing an FDIC phone line to direct borrowers to legitimate mortgage counselors, and creating a foreclosure information "tool kit".
FDIC Call Center: 1-877-275-3342
Foreclosure Prevention Toolkit -
Property Tax Deferral Program
Struggling to make ends meet? The Department of Revenue has program that can help. The Property Tax Deferral Program helps homeowners with limited income by paying 50 percent of property taxes and/or special assessments on behalf of the owner. The taxes are postponed and must be paid when the homeowner no longer owns and uses the property as their primary home. For more information and a list of requirements visit dor.wa.gov or call (360) 570-5900, or call your local county assessor’s office.
Educate Yourself About Foreclosure
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What To Do If You Are Facing Foreclosure
Steps to take and individuals to contact if you are behind on your monthly mortgage payments and need assistance. -
Possible Alternatives To Foreclosure
Sometimes, a lender may not pursue foreclosure even though your loan payments are behind. Although a lender isn't required to accept any offers or renegotiate the terms of your loan, there may be alternatives to foreclosure. -
HB 2791 – Distressed Property Conveyances
A message from the Attorney General’s Office about legislation proposed by the Attorney General’s Office to help protect financially strapped homeowners from equity skimming and foreclosure rescue scams. -
Foreclosure Resources
Links to helpful resources and information available from DFI and other organizations.
Avoiding Fraud
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Loan Modification Services
DFI advises homeowners who are delinquent on their mortgage to be cautious about using the services of someone offering to help them work with their lender to modify the terms of their home loan. -
Beware of Foreclosure Rescue Scams
Solutions that sound too simple or too good to be true usually are.
Contacting Your Lender
Do not ignore letters or phone calls from your lender. If you’re having trouble making your monthly mortgage payments, explain the situation to your lender. Write down who you spoke to, the date, and what was said. Don't wait!
- Contact Information for Lenders and Servicers
- Contact Information for Washington State Banks
- Contact Information for Washington State Credit Unions
Tips For Those Having Trouble Making Their Monthly Mortgage Payments
- Take advantage of free foreclosure counseling. To contact a counselor, call the Washington State Homeownership Information Hotline at 1.877.894.HOME (1.877.894.4663) or visit www.homeownership.wa.gov for a list of counselors in your area.
- If you fall behind on your payments, call or write your mortgage lender immediately. Don't ignore letters from your lender.
- Stay in your home to make sure you qualify for assistance.
- Lenders don't have to accept all proposals and are not obligated to do so. So don’t wait till the last minute to contact your lender.
- Explore every alternative to losing your home.
- Beware of foreclosure rescue scams.
- Don't sign anything you don't understand.
- If the lender refuses to take partial payments, you should put this money aside to help negotiate with the lender later.
- If you're a senior citizen or are disabled and are facing a foreclosure action because of unpaid property taxes or special assessments, you may be eligible to postpone payment of your property taxes or special assessments under two programs in Washington. Contact your local County Assessor’s Office or an attorney for more information.
- Remember that signing over the deed to someone else doesn’t necessarily relieve you of your loan obligation.
- Remember to use registered or certified mail in all your correspondence on legal matters.
Contact The Washington Homeownership Information Hotline
If you would like to speak with someone about your current situation, please contact the Washington State Homeownership Information Hotline at 1.877.894.HOME (894.4663).
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
** This document is a Microsoft Word file, and you will need Microsoft Word to view it. If you do not have Microsoft Word installed on your machine, you can download the free Microsoft Word Viewer.
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