Foreclosure Do's and Don'ts

Foreclosure Do's and Don'tsThe City of Tampa is working with many agencies to give you every opportunity to save your home. To guide you through the process, we have listed some important steps that you should and should not take..

Important Do's and Don'ts to guide you through the process:


  • Take action immediately. The "Making Homes Affordable" is for homeowners who are behind in making their mortgage payments.
  • Communicate with your lender. If you are going to be late or have a financial hardship such as a recent job loss, be proactive and let them know about your situation.
  • Ask questions. Ask your lender if you qualify for the "Making Homes Affordable" or "Home Affordable Modification" programs.
  • Do Your Homework. Program information can be found by visiting or by calling Hope for Homeowners hotline at 1-888-995-HOPE.
  • Let experienced and knowledgeable organizations help you. If you need assistance working with your lender, contact one of the HUD certified counseling agencies listed in this publication.


  • Don't ignore the letters sent to you by your mortgage lender. If you have stopped making your mortgage payments, call them today and ask if you qualify for the new "Homes Affordable Modification Program".
  • Don't spend the money you could use towards a mortgage payment. You must have some financial resources to obtain a loan modification. It is important that you have a realistic monthly budget in order to make monthly mortgage payments.
  • Don't pay a higher interest rate than necessary. The "Making Homes Affordable Program" can also help homeowners who are current with their mortgage payments by lowering interest rates and making their home more affordable.
  • Don't miss this opportunity. This "Making Homes Affordable Program" expires June 10, 2010.
  • Don't waste time. The foreclosure process takes about 120 days. The program expires December 31, 2012. The sooner you take action, the more likely you will get positive results and keep your home.