THE GOOD NEWS
Sheriff Green has granted a 30-
day delay on foreclosure sales
starting in March. If you are on
his list, you have time to get help.
There is lots of help available.
Philadelphia has many resources
Are You About To Lose Your Home?
Story continues below.
and services that other cities
don't, so if you're in trouble, don't
give up. Sure, its scary and
depressing to start getting mail
that could lead to losing your
house, especially if youve fallen
behind on payments because of
circumstances beyond your control.
Avoiding it, though, will
make it worse. Chances are, if
you take action now, someone
can help you keep your house
from being sold.
Use the list here to find help, or
call the Dont Borrow Trouble
hotline; theyll direct you to the
right place.
Foreclosure doesnt happen
overnight. Because Pennsylvania
requires a lender to file a lawsuit
against a property owner before
being able to take control of the
property, this means the process
happens over a period of months,
long enough for you to figure out
how you can solve the crisis. The
point to remember is that when a
lender first starts talking to you
about foreclosure, it's the beginning
of a long process that can
give you time to explore all your
options. And all along the way
if one avenue of help has been
denied, or if a foreclosure lawsuit
has been filed, or even if a judgment
has been entered against
you there is still time to find
solutions. But it's important that
you don't wait.
THE SOONER YOU ACT, THE
EASIER IT'S GOING TO BE
TO GET HELP.
Nine ways to save yourself from predators
Everyone needs to borrow
money sometimes. If you do,
make sure you dont fall prey
to predatory lenders. These
lenders often mislead homeowners
by promising to solve your financial
problems with huge, expensive
loans that you may not be able to
afford. You could end up losing
everything, including your house.
In fact, predatory loans play a big
part in the recent alarming rise in
foreclosures. Here are a few things
to know:
1. You cant borrow
your way out of
financial trouble.
If you are having trouble paying
your bills now, you are probably
going to make things worse by taking
out a mortgage. Predatory
lenders target low-income homeowners,
particularly African-
Americans and the elderly. They talk
their way into homes with the
promise of lower payments and an
end to collection calls, but often
they walk away with the equity in
your house and leave you worse off
than before.
2. See if you qualify for a
conventional loan first.
Half of all people who are victims of
predatory lenders could have gotten
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