Having trouble paying your mortgage? Call us at 877-354-1110
You may have options:
|Options to Stay in Your House||Overview||Benefits|
|Refinance||Receive a new loan with lower interest rate or other favorable terms.||Lowers your monthly payment and/or improved your terms.|
|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 payments during a “trial period” (that is, completing a three- or four-month trial period plan) that approximates the modified payment.||Permanently modifies your mortgage so that your payments or terms are more manageable as a permanent solution to a long-term or permanent hardship.|
|Options to Leave Your Home||Overview||Benefits|
|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.|
|Mortgage Release (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.|
To find out more about the options that may be available to you:
- Contact us at 877-354-1110 to discuss options that may be available to you.
- See our Homeowner Checklist for documents that you will need to provide.
- Apply for assistance by contacting our Home Retention department at 800-893-5304 Ext. 9208.
You can also get help from a HUD-certified housing counseling agency by calling 800-569-4287.
Washington Residents– Call the Washington Home ownership Hotline at 1-877-894-HOME (1-877-894-4663)