Need assistance with making your next payment?

We are happy to help you with any payment challenges. For a confidential conversation with a Specialist please contact us toll free at (800) 467-5430, option 3.

Guide to Options that May Be Available to Help

We would like to help you resolve your delinquency and there are options that may be available to help you. The right option for you depends on your individual circumstances. You may qualify for a temporary (or permanent) solution to help you get your finances back on track (repayment plan, forbearance, modification). Depending on your circumstances, staying in your home may not be possible. However, a short sale or deed-in-lieu of foreclosure may be a better choice than foreclosure - see the table below for more information.
Note: We are not obligated to provide any of these options and their availability is subject to review and approval.

OPTION	OVERVIEW	BENEFIT
Reinstatement	Pay the total amount you owe, in a lump sum payment and by a specific date. This may follow a forbearance plan as described below	Allows you to avoid foreclosure by bringing your mortgage current if you can show you have funds that will become available at a specific date in the future
Repayment Plan	Pay back your past-due payments together with your regular payments over an extended period of time	Allows you time to catch up on late payments without having to come up with a lump sum
Forbearance Plan	Make reduced mortgage payments or no mortgage payments for a specific period of time	Have time to improve your financial situation and get back on your feet
Modification	Receive modified terms of your mortgage to make it more affordable or manageable after successfully making the reduced payment during a "trial period" (i.e., completing a three [or four] month trial period plan)	Permanently modifies your mortgage so that your payments or terms are more manageable as a permanent solution to a long-term or permanent hardship. There may be a fee or 3rd party charges associated with a modification.
Short Sale	Sell your home and pay off a portion of your mortgage balance when you owe more on the home than it is worth	Allows you to transition out of your home without going through foreclosure. In some cases relocation assistance may be available
Deed-in-Lieu of Foreclosure	Transfer the ownership of your property to us	Allows you to transition out of your home without going through foreclosure. In some cases relocation assistance may be available. This is useful when there are no other liens on your property

We will work closely with you during this process. We will need to gather some information to help determine what option will best fit your needs. The following information will need to be submitted for review by one of our Specialists:

1. Complete the application by clicking on this link
2. Provide details when completing the Hardship Affidavit of the application
3. Be sure it is completed in its entirety
4. Provide copies of your income documentation
   1. 2 recent paystubs showing year-to-date earnings
   2. 12 month history from Friend of the Court
   3. Alimony support
   4. Most recent Social Security benefits letter
   5. State benefits (ex: food assistance, cash assistance)
   6. Most recent federal tax return (all pages)
   7. Most recent bank statement (all pages)
   8. Recent profit/loss statement (if self employed)
   9. Any other sources of income as applicable

FAQ

1. Why Should I Complete This Package?
   You may be experiencing a difficulty in your life which has prevented you from making your payment or payments. We want to help you keep your home if at all possible. By sending this information to us now we can work with you to quickly resolve any temporary or long-term financial challenge you face to making all of your late mortgage payments.
2. Will It Cost Money to Get Help?
   There should never be a fee from your servicer or qualified counselor to obtain information about foreclosure prevention options. However, foreclosure prevention has become a target for scam artists. Be wary of companies or individuals offering to help you for a fee, and never send a mortgage payment to any company other than the one listed on your monthly mortgage statement or one designated to receive your payments under a state assistance program.
3. What Happens Once I Have Sent the Loss Mitigation Application to You?
   We will contact you to confirm that we have received your package, review it to determine whether it is complete, and let you know if we need additional information. Please submit your application as soon as possible.
4. What Happens to My Mortgage While You Are Evaluating My Loss Mitigation Application?
   You remain obligated to make all mortgage payments as they come due, even while we are evaluating the types of assistance that may be available.
5. . Will the Foreclosure Process Begin If I Do Not Respond to this Letter?
   If you have missed 3 or more monthly payments or there is reason to believe the property is vacant or abandoned, we may refer your mortgage to foreclosure regardless of whether you are being considered for a modification or other types of foreclosure alternatives.
6. What Happens if I Have Waited Too Long and My Property Has Been Referred to an Attorney for Foreclosure? Should I Still Contact You?
   Yes, the sooner the better!
7. Will My Property be Sold at a Foreclosure Sale If I Accept a Foreclosure Alternative?
   No. The property will not be sold at a foreclosure sale once you accept a foreclosure alternative, such as a forbearance or repayment plan, and comply with all requirements.
8. Will My Credit Score Be Affected by My Late Payments or Being in Default?
   The delinquency status of your loan will be reported to credit reporting agencies as well as your entry into any Repayment Plan, Forbearance Plan, or Trial Period Plan in accordance with the requirements of the Fair Credit Reporting Act and the Consumer Data Industry Association requirements.
9. Will My Credit Score Be Affected if I Accept a Foreclosure Prevention Option?
   While the effect on your credit will depend on your individual credit history, credit scoring companies generally would consider entering into a plan with reduced payments as increasing your credit risk. As a result, entering into a plan with reduced payments may adversely affect your credit score, particularly if you are current on your mortgage or otherwise have a good credit score.
10. Is Foreclosure Prevention Counseling Available?
    Yes, HUD-approved counselors are available to provide you with the information and assistance you may need to avoid foreclosure. You can use the search tool at http://www.hud.gov/offices/hsg/sfh/hcc/fc/ to find a counselor near you. Or contact us and we can assist you with locating a credit counselor.
11. I Have Seen Ads and Flyers From Companies Offering to Help Me Avoid Foreclosure for a Fee. Are These Companies on the Level?
    Foreclosure prevention has become a target for scam artists. We suggest using the HUD Web site referenced in question 10 to locate a counselor near you.