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Foreclosure Prevention Toolkit



toolkit Home foreclosures are on the rise all over the country, especially in Maine. You have probably heard or read about this national sub-prime lending crisis. You are not alone.

Here are some tools to help:

  • if you are having trouble keeping up with your mortgage payments,
  • if you are already receiving threatening notices from your loan servicer, or
  • even if you are already facing foreclosure

The most important message is: Don't wait! Look for help now! Try to find a legal advocate or HUD-approved housing counselor today. Also, we hope that this information will help you to better understand the complex challenges that you're facing.

Foreclosure News

May 14, 2008 ~  10 Worst Foreclosure States  U.S. News and World Report
May 12, 2008 ~  Foreclosures hurt many renters, study says  South Coast Today
May 11, 2008 ~  The Giant Pool of Money  This American Life [Free after 5/16]
May 09, 2008 ~  Homeowner Rescue Bill Passed Despite Veto Threat  New York Times

News Archive

The Tools

Don't Borrow Trouble!
Watch out! Learn the the signs of predatory lending so that you avoid bad deals in the future.

Can I Save My Home from Foreclosure?
Here are some basic tools to help you strategize: Do I want to propose a "workout" plan? What kind of plan? Where can I get help? What can I do to help my legal advocate help me? Includes sample letters to your broker and loan servicer.

Home Foreclosures in Maine
This explains the steps in the foreclosure process and what you can do to respond. Includes a sample answer to a court complaint and sample basic discovery request.

Don't Leave Money on the Table
Use this checklist to find out if you are getting all of the tax credits and other benefits you could be getting. This could help your overall financial picture.

Bankruptcy: Is It the Right Choice for You?
If you have a steady stream of income, a Chapter 13 bankruptcy might be a good legal tool to help you save your home. Read more.


Quick links

More information

MASH Resources (for lawyers)


Special thanks to the Office of the Maine Attorney General
and the Maine Bar Foundation for funding this outreach project

September 2007


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