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Online Press Kit

For Immediate Release
October 26, 2010

For more information, contact:
Legal Aid of East Tennessee
David Yoder, Executive Director
(865) 637-0484

Foreclosure Tips

Knoxville, Tenn. – In recent years the housing crisis has hit national levels and foreclosures have skyrocketed. Here are a few tips for people struggling to make their mortgage payments:
  • Talk to the Lender – If you know you can’t make a payment, tell the lender. Explain the problem. The lender will ask, “When can you make a payment?” The lender wants to know if your problem is temporary or permanent. If the problem is temporary, the lender might lower your payments for a while. For example, if you can’t pay your mortgage because you lost your job, applied for disability, but won’t hear anything back for three months, that is a temporary problem. Your lender may be able to reduce your payment for the next three months. If the problem is permanent, the lender might lower your payments permanently. You still owe the same amount of money, but it is paid off over a longer amount of time.
  • When You Talk to the Lender – Do not promise too much. If you cannot do something you promise the lender you will do, the lender will not help you later. Do not promise to pay more than you can pay. Do not promise to pay sooner than you can.
  • Write Down Your Agreement – If the lender does not send you a written agreement, you should send the lender a letter. The letter should say, “This what we agreed.” Then, write what your agreement is.
  • Contact Legal Counsel – LAET offers legal counsel for clients facing foreclosure.
What if the lender will not work with me? Most lenders do not have to work with you. But if you have a VA or FHA loan, the lender must find out if you qualify for a program to avoid foreclosure.
To learn more about Legal Aid of East Tennessee, please call (865) 637-0484.

This online press kit is intended for use by the media. If you are not a member of the media and are interested in learning more about Legal Aid of East Tennessee, the “Need Help?” section of this website has legal information for the public and the “Pro Bono” section is a great place to start for those interested in becoming a legal volunteer.

All names and likenesses of LAET clients have been changed to protect the identies.

David Yoder (865) 251-4961

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