Banking for Consumers

Mortgage Assistance

The Vermont Banking Division can tell you what relief programs, counseling or other options may be available to you, and how to access them. The range of assistance depends upon where you are with your mortgage payments and any foreclosure process.

The Division does not have funding or grant monies to distribute to distressed mortgage holders. We may be able to help facilitate communications between you and your lender to come to a mutually agreeable course of action.

Important Things to Know

If at all possible, do not skip payments and wait to seek help only after your lender initiates a foreclosure action. This will not result in any better eligibility for assistance. The earlier you take action to avert delinquency, the better your chances to work out a solution to retain your home.

Contact Us

802-828-3307 or 888-568-4547

Vermont Department of Financial Regulation
Banking Division
89 Main Street
Montpelier, VT 05620-3101
 
dfr.bnkconsumer@vermont.gov

Free Foreclosure Help from CFPB

If you are behind on your mortgage, beware of mortgage relief scams. There is free foreclosure help. If anyone tries to charge you in advance for help or guarantees that they can stop your foreclosure, they’re not legitimate.

Here are some red flags that can help you spot and avoid mortgage relief scams:

  • You’re asked to pay up front for help.
  • The company guarantees it will get the terms of your mortgage changed.
  • The company guarantees you won’t lose your home.
  • You’re instructed to send your payment to someone other than your mortgage company or servicer.
  • You’re told to stop paying your mortgage.
  • The company says they’re affiliated with the government or uses a logo that looks like a government seal but is slightly different.

If you see one of these warning signs, take your business elsewhere. The CFPB has information on how you can avoid foreclosure and tips for working with your mortgage servicer.

Unlicensed Lending

Always verify if your lender is licensed: Verify a Financial Professional

If you have borrowed money from an unauthorized lender:

Approved Reverse Mortgage Counselors

Reverse mortgage counseling is a part of the reverse mortgage application process and is typically completed just after completing an application for a reverse mortgage.

Review the list of Approved Reverse Mortgage Counselors

Other Resources

  • MyMoney.gov is dedicated to helping Americans understand more about their money - how to save it, invest it, and manage it to meet their personal goals.
  • Identify Theft - A consumer's guide that provides streamlined checklists and sample letters to guide you through the recovery process when you are a victim of identify theft.
  • Reverse Mortgage Information (online only) A brief description of reverse mortgages and an outline of Vermont's legal protections for reverse mortgage borrowers
  • Taking Charge: Plan Now for Future Financial Control - A Guide for Vermonters Information about Joint Fiduciary Accounts (an account owned by one person with instructions for how a second person on the account is to use the money); Powers of Attorney; Guardianship; Wills and Trusts 
  • What You Should Know About Credit Cards - A consumer's guide to choosing a card and understanding the costs and conditions of credit.
  • Information for Civil Union Partners - A guide to insurance, banking and tax issues.
  • Basic Banking Surveys - Quarterly surveys that compare checking account and savings account services, fees and costs at Vermont banks.
  • Federal Trade Commission  The Federal Trade Commission's website is designed to faciliatate filing a complaint regarding identify theft, registering for the Do Not Call list, obtaining a free credit report, and learning what to know and do about scams.
  • Identify Theft Recovery Steps  (online only) A one-stop resource for identity theft victims. The site provides streamlined checklists and sample letters to guide you through the recovery process.
  • FDIC Deposit Insurance  The FDIC's website is designed to help consumers learn about the benefits and limitations of deposit insurance and features a link to EDIE the Estimator.

Contact Information

Department of Financial Regulation
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

802-828-3301
833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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