Do not wait to default on a mortgage payment if you are struggling to pay your mortgage. Instead, speak to your lender immediately. There is hope and assistance available.

Hope Now, a private alliance made up of non-profit counselors, investors, and mortgage services, helped 270,000 homeowners to keep their homes.

They moved into their homes in April 2009. Through its website, the organization reaches at-risk borrowerborrowers. www.hopenow.comThere are also community events where homeowners can meet with their lenders and speak to representatives of Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development. Hope Now also offers a telephone hotline where homeowners can talk with non-profit counselors at 1-888-995 HOPE.

Homeowners should gather financial information before calling their lender. Lenders will need to see proof of income and expenses before restructuring a loan. Scammers have discovered numerous ways to profit off the housing crisis. Homeowners must also be aware of these issues.

Scammers will use ads or public foreclosure notices in the newspapers to reach desperate homeowners. They then take home equity, mortgage payments and ownership of the house.

Hope Now suggests that homeowners be aware and alert to potential scams so they can avoid being taken advantage of. “red flags”This is:

* The service guarantees to stop foreclosure, no matter what.

* The service collects an upfront fee.

* The service tells you not to contact your lender, lawyer or credit or housing counselor.

* The service only accepts payment by cashier’s check or wire transfer.

* The service encourages you to lease your home so you can buy it back over time.

* The service wants to collect your mortgage payments.

* The service tells you to transfer your deed or title to it, or offers to buy your home at a fixed price.

* The service offers to fill out paperwork for you, or pressures you to sign paperwork that you have not read or do not understand.

Homeowners can contact their lender to get legal help. Or call 1-888-995–HOPE to talk with counselors from non-profit organizations. Learn more about foreclosure prevention options. “Mortgage Payments Sending You Reeling? Here’s What to Do”at www.ftc.gov.