After working so hard to achieve homeownership, the last thing you want to do is to default on your loan and lose your home. If you are having difficulty in making your mortgage payments, you should do the following:

· Call your lender immediately – let them know what is going on and discuss options to avoid delinquency.

· Consider all financial resources to draw from to make next month's payment (family, 401K, part-time job).

· Contact a local HUD-approved counseling agency to discuss all your options.

· Read all your mail from your lender.

To find a HUD-approved counseling agency and for more information on mortgage default services, check out the Colorado Housing Counseling Coalition at http://www.coloradohousingcounseling.org

The Colorado Housing Assistance Corporation Foreclosure Prevention Program assists low to moderate income homeowners retian homeownership in the face of a hardship. 

This program is available throughout the state of Colorado and is available for families who have had a one-time incident that has put them behind on their mortgage payment.  Homeowners using the CHAC Foreclosure Prevention Program must be able to demonstrate that they can pay their mortgage (and all other debt obligations) going forward.

Loan amount is up to $10,000 and payments begin immediately.  Applicants must meet eligibility criteria to qualify.  Contact CHAC for more information at 303-572-9445 or www.coloradohousingassistance.org.