Struggling With Your Mortgage?

The worst thing to do is nothing! 

Save my home now

What is HomeSave

HomeSave is a foreclosure prevention initiative that helps homeowners prevent and solve problems with delinquent or costly mortgages. 
Thanks to our many HomeSave partners, we offer homeowners in the Capital District a wide range of resources, including:

NYS Homeowner Assistance Fund
This program currently is no longer accepting new applications. Homeowners are being added to the waiting list. www.NYHomeownerFund.org

Find a local housing or legal services agency here
or call 518-434-1730 for more information.

Homeowner Information Webinar

Behind on your mortgage payments or in a forbearance?  There are options available to you to get current again, or to successfully exit your forbearance plan. Check out the March 2021 session below of our free Homeowner Information webinar.  You can also always reach out to a HomeSave partner to find out more about your options.
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Help For Homeowners in the City of Albany
and Town of Colonie
Thanks to CDBG CARES funds there are special financial assistance programs to assist residential property owners. If you have been unable to pay your mortgage or property taxes due to COVID, earn less than 80% of median income, and will be able to resume payments, you can apply for the City of Albany or Colonie financial relief program. Contact AHP Homeownership Center at 518-434-1730 x401.

HomeSave Coalition Partners

Where We Serve

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​Funded through the
New York State Attorney General
Homeownership Protection Program

Mortgage Forbearance

If you are facing financial hardship, contact your servicer about the possibility of a mortgage forbearance.  This will pause payments until you can afford to start  payments again.  If you are in a forbearance and nearing the end and still having difficulties, contact your servicer about an extension.  Options may depend on the type of mortgage you have.  Contact a HomeSave member for help.  Additional information is at the Consumer Financial Protection Bureau website.

If you are ready to exit your forbearance, you have several options:
  • Repayment Plan:  This option increases your monthly payment until the missed payments have been repaid.
  • Deferral or Partial Claim:  If you can resume your regular payments, but can't afford an increase, this option moves payments to the end of the loan or places the missed payments into a second mortgage that is repaid when you refinance or sell your home.
  • Mortgage Modification: Similar to a loan refinance, this option offers an opportunity for a lower monthly payment.  Missed payments are included in the modified loan, with the possibility of a reduced interest rate and longer term.
  • Lump sum reinstatement: If you can afford to repay all the missed payments at one time, this may be an option.  In most cases, loan servicers cannot require you to pay lump sum.
Note that during the time of your forbearance, your lender will have advanced payments for property and school taxes.  You may have a negative escrow account that will need to be refunded.  Either your monthly payments will be increased until the escrow is adequately funded, or if funds are available, you may consider speaking with your servicer about contributing toward your escrow account. 
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Beware of Scams!

The FTC warns of several Coronavirus Scams.  Visit their website for more information

1. Contact Tracing
Legitimate tracers need health information, not information on money or personal financial information

2. Calls, emails, texts from the IRS
The IRS won't contact you by phone, email, text message or social media with information about a stimulus check.  You don't have to pay to get your stimulus money. 

3. A fake agency asking for your Social Security number
Beware of a scam involving social media messages taking users to a fake website called the "US Emergency Grants Federation" and asks for your Social Security number to verify your eligibility, 

4. Ignore offers for vaccinations, miracle treatments, test kits.
Scammers are selling products that have not been proven to work.

5. Any correspondence claiming to be the Treasury Department
The IRS is a bureau of the Treasury Department, and most often gets in touch with taxpayers via mail. In the case of the stimulus checks, the IRS is relying on direct deposit information provided on recent tax returns to send out payments.

"If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, or charge of any kind, including the purchase of gift cards, please do not respond. These are scams," the Treasury Department warns on its website.  

6.  Emails from the CDC or WHO
Instead of clicking on links in emails from sources you don't know, directly visit sites such as www.coronavirus.gov to get the latest information.
FTC:  www.ftc.gov
Consumer Financial Protection Bureau:  www.consumerfinance.gov




Funded through the
New York State Attorney General
Homeownership Protection Program






Photo by Chris Dlugosz
HomeSave