If you have an adjustable interest rate that is scheduled to re-set and you suspect that you might have difficulty paying the new, higher monthly payment, it is important that you contact your lender to discuss your situation now. You may be able to refinance to a fixed interest loan, or arrange to alter the terms of your loan in such a way that you can still afford the monthly payment.
NeighborWorks’ HOPE Hotline at 888-995-4673 (HOPE) or http://www.995hope.org/
. HOPE Counselors are available 24 hours a day to offer assistance.
South Middlesex Opportunity Council (SMOC) operates a Housing Consumer Education Center in Framingham. Foreclosure counseling is available at 508 620-2675.