Stories and Lessons
- #1: Be careful of the advice offered to refinance your mortgage to consolidate debts.
- #2: If you get a letter from the North Carolina Banking Commission, open it! It provides information on foreclosure assistance through the CDC.
- #3: Bankruptcy is not always the solution to a mortgage problem. Bank-ruptcy is expensive and does not always resolve the problem. By contacting the CDC, a counselor can advise you on whether to seek legal advice.
- #4: Your mortgage has priority over all other debts! Want to keep your house? Pay your mortgage first.
- #5: Even if you have a foreclosure hearing and sale date, call the CDC. It’s never too late to negotiate.
- #6: Beware of Foreclo-sure Rescue Scams on TV, the Internet or in the newspaper. Help from the CDC is FREE!
- #7: Don’t make the mistake of thinking that the mortgage company is writing off late or missed payments. These are included in the work out plan.
- #8: Contacting the right department when calling the mortgage company is critical.
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