How to Avoid Foreclosure

Do you have an adjustable rate mortgage (ARM)? Do you know when it resets and how much interest you could be paying? If you're not sure, you're not alone; many union members and their families face similar confusion. The monthly payments on many adjustable rate mortgages (ARMs) are rising steeply after the loans reset. As a result, many working families are finding themselves overextended, and some are losing their homes. The good news is you can take the first positive step by calling the Union Plus Save My Home Hotline. Call 1-866-490-5361 for a free consultation with a HUD-certified housing counselor who can help you develop a budget, answer your questions and develop an action plan to get your financial house in order, preferably before you reach a crisis stage with your mortgage. TIP: If you're falling behind on your house payments, don't ignore letters and phone calls from your lender. Contact your lender as soon as possible to discuss the situation - there are many options to help you early in the process, but only if you keep the lines of communication open with the financial institution holding your loan. Find out more about keeping your home and understanding your financial situation here or call 1-866-490-5361.