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.
802-828-3307 or 888-568-4547
Vermont Department of Financial Regulation
89 Main Street
Montpelier, VT 05620-3101
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.
Always verify if your lender is licensed: Verify a Financial Professional.
If you have borrowed money from an unauthorized lender:
- You should immediately cancel the loan and revoke access to your bank account by sending this form to the lender with a copy to your bank or credit union.
- If you have not already done so, file a complaint with the Consumer Assistance Program. We want to know the names of all unlicensed lenders lending into Vermont.
- Visit CAP’s Loan Issues for further instructions and information.
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.
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