Stories about a “freeze” or “moratorium” on mortgage foreclosures are in the headlines, so it’s no surprise if you’ve heard that some mortgage lenders are stopping foreclosures while their paperwork is investigated to be sure it’s in order. But no matter what you hear on the news, a notice from your bank, mortgage servicer, or the sheriff requires your immediate attention.
This freeze doesn’t necessarily mean that proceedings on your home stop. In fact, homeowners who are on the brink of foreclosure — or already in foreclosure — shouldn’t assume the proceeding is on ice. If you get a notice about your mortgage, pay attention to it. Call the sender — whether it’s your bank, your servicer, or the sheriff — right away.
For more information about dealing with mortgages, foreclosures, and foreclosure rescue scams, visit ftc.gov/YourHome.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics.