Foreclosure Prevention Counseling in New York
Falling behind on your mortgage can create stress and uncertainty, but real solutions are available. American Debt Resources, Inc. provides foreclosure prevention counseling in New York to help homeowners understand their options, act, and protect their homes.
What Foreclosure Means
Foreclosure is a legal process that lenders pursue when you cannot make your mortgage payments. When you bought your home, you signed an agreement stating that the lender could claim your property if you defaulted. Your home acts as collateral for the loan. Through foreclosure prevention counseling in New York, we explain this process in simple terms and guide you through the steps to avoid losing your home.
Why Homeowners Face Foreclosure
You are not alone. In 2007, more than 635,000 foreclosure filings were reported nationwide, one for every 196 households. Many homeowners were caught off guard when their adjustable-rate mortgages reset, causing a 30% jump in monthly payments they could not afford. Others fell behind due to job loss, illness, divorce, death, or poor money management. Our foreclosure prevention counseling in New York is designed to support families in these difficult situations and provide practical solutions.
Ways to Avoid Foreclosure
Know the Signs Early
The sooner you act, the more options you will have. Be honest about your financial situation. If your expenses exceed your income, or you notice that bills are becoming harder to pay, take immediate action. Our foreclosure prevention counseling helps you evaluate your options, such as reducing spending, increasing income, or selling assets. Our certified counselors can also assist with budgeting and debt consolidation.
Open Your Mail
Ignoring letters from your lender will not make the problem go away. Lenders often send important information and may even offer work-out options to help you keep your home. Through foreclosure prevention counseling, we encourage homeowners to stay alert, open mail promptly, and respond to lender communications without delay.
Reach Out for Help
Assistance is available. By calling our office, you can connect with a certified credit counselor who will review your finances and provide a realistic solution. Foreclosure prevention counseling includes one-on-one sessions and telephone counseling for your convenience. Contact us or complete our online application, and one of our counselors will contact you within three hours. Having the right paperwork ready will make the process faster and more effective.
Beware of Scams
Unfortunately, scammers target distressed homeowners. Our foreclosure prevention counseling educates clients on how to avoid fraud. Be careful of businesses that make promises that sound too good to be true. Take your time, read agreements carefully, and consult an attorney before signing anything. Protect yourself by working only with trusted professionals.
Take Action with Foreclosure Prevention Counseling in New York
Losing your home does not have to be the outcome. With the right guidance and support, you can take control of your financial situation and find a realistic path forward. Contact us today and let us help you protect your home and your future.
