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Avoiding trouble
To avoid foreclosure, banking officials and consumer advocates recommend the following:
- Always pay your monthly mortgage bill before any other bill, including your credit card bill — even If you are strapped for cash.
- Don't ignore missed payment notices from your lender. Foreclosure typically begins after three missed payments.
- Agencies to contact for help include the Ecumenical Social Action Committee, 617-524-2555; the National Consumer Law Center, 617-542-8010; and Homeowner Options for Massachusetts Elders (H.O.M.E.), 1-800-583-5337.
- Before you take on a mortgage, make sure you can comfortably pay the monthly amount and have a cushion In case you or your spouse loses a job.
Ricki Morf
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