The New Climate For Mortgage Borrowers

Credit may be tougher to get, but good loan programs are still available. Even people having difficulty paying their mortgages have options for saving their homes from foreclosure.


What’s Happened and Why

If You’re Looking for a New Mortgage or to Refinance

  • Try to raise your credit score
  • Consider modifying your strategy
  • Contact several lenders
  • Compare fixed-rate and adjustable-rate loans
  • Be wary of a mortgage with payments that can increase substantially
  • Take the time to document your sources of income
  • Protect against unfair and deceptive sales practices

If You Can’t Make Your Mortgage Payment

  • Ask about refinancing
  • Consider help from a house counselor
  • Be proactive
  • Consider selling your home

Related Articles:

  • FDIC, Other Government Agencies Are Working to Help Borrowers
  • Beware of Mortgage Scams
  • For More Help or Information on Home Loans

FDIC Insurance: You’ve Got Questions, We’ve Got Answers

  • What are the FDIC’s procedures for protecting depositors if a bank fails?
  • What happens to my FDIC coverage if I have accounts at two different banks?
  • How can I be sure that deposits I send to an Internet bank are FDIC-insured?

Timely Tips for Tax Season

  • Have your tax refund direct deposited
  • Consider your options and costs
  • Make good use of your refund
  • Beware of the costs
  • You can have your payment withdrawn electronically
  • If you need to borrow money to pay your taxes…
  • Take advantage of free tax preparation services

FDIC Consumer News is published by the Federal Deposit Insurance Corporation

FDIC Consumer News is produced quarterly by the FDIC Office of Public Affairs in cooperation with other Divisions and Offices. It is intended to present information in a nontechnical way and is not intended to be a legal interpretation of FDIC or other government regulations and policies. Mention of a product, service or company does not constitute an endorsement.

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Related Consumer Finance Programs – The following sub-directories of companies offer a wide variety of financial programs to assist you with the management of your finances. Consolidate debt with a consolidation loan or use a debt counseling service or mortgage refinance for help with the consolidation of your charge card debt and other monthly payments.

  • Debt Consolidation Settlement – Finding yourself in the common situation of being unable to meet your credit card payments month after month? The negotiation of your bills may be a good solution for getting you back on track with your financial obligations. Compare various programs and see if this option is right for you.
  • Debt Management Services – Having trouble keeping up with your monthly credit payments? Compare debt management companies in this online list that can try amd help you get a grip on your personal financial situation.
  • Personal Loan Consolidation – Looking for a small loan to consolidate your debt? Personal loans are typically unsecured and do not require the use of collateral.

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