Foreclosure Prevention Loan workout options Your lender may offer one of several options to help you with your mortgage. These options are divided into two broad categories: government funded programs that provide incentives for lenders to offer workout options, and internal lender programs that may be equivalent or quite different from the government choices. Your first research stop should be the government web site that explains the options available under the Making Home Affordable program. The site explains many of these programs in detail, lists all participating lenders, allows you to determine if your loan is owned by Fannie Mae or Freddie Mac, and offers access to a universal application form to apply for a loan modification. You can then approach your lender and request a specific program mentioned on the web site, or ask if there is any available workout option for your specific situation. Education opportunities Triangle Family Services offers two workshops that can help your address your mortgage difficulties. The 2 hour Mortgage Zone covers the strategies you need to employ to achieve housing stabilty, including budgeting, loan modifications, other ways to save your home, and transition topics. The 2 hour Empowerment Zone covers  budget and credit issues that may impact your ability to pay your mortgage or meet other debt obligations. Sessions are held on alternate Wednesday evenings from 6:00 pm to 8:00 pm. Special issues for the unemployed A new government program (part of the government initiatives described above) went into effect July 1, 2010. This Home Affordable Unemployment Program (acronym UP), allows for a temporary loan forbearance while the homeowner is unemployed and collecting unemployment benefits. The North Carolina Housing Finance Agency also underwrites zero interest loans for the unemployed that can pay your mortgage while looking for a job. Triangle Family Services is a partner agency that processes the loan applications for NCHFA. To learn more about this program, visit the dedicated web site, and then call our receptionist number at 821-1770 to sign up for an information session that covers all the details. Sessions are held on Thursdays at 10 am in our Blue Ridge offices.