If you’re a borrower struggling to make your mortgage payments we’re here to help.
We understand how overwhelming it can be to make ends meet. Our goal is to keep homeowners in their homes. That’s why we’ve developed programs specifically for borrowers facing financial hardship.
The variety of options summarized below may help you keep your home. To explore your options call our Payment Assistance Hotline at (800) 979-9977 today or e-mail email@example.com. We’ll work with you to review your options and decide on the best course of action for your circumstance.
Options to Avoid Foreclosure
Reinstatement – Pay the total amount you owe in one lump sum payment by a specific date. This option 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. This option gives 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. This option gives you time to improve your financial situation and possibly qualify for a better option than would be available right now.
Modification – Receive modified mortgage terms to make it more affordable or manageable after successfully making payments during a “trial period” (e.g., completing a three month trial period plan) that requires payment of the approximate amount of the modified payment.
Documentation that May be Required
Uniform Borrower Assistance Form filled out and signed
Asset Documentation (non-retirement assets such as checking/savings account statements, money market funds, CDs, Stocks and Bonds that are non-retirement)
Most recent Tax returns or W2s
Hardship letter outlining the reason for assistance
IRS Form 4506-C
To find a HUD-certified housing counseling agency call HUD toll-free at (800) 569-4287 or visit www.hud.gov/counseling. Please contact us at (800) 979-9977 to discuss what documentation is required for loss mitigation options.