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Financial Hardship Borrower's Assistance Program


Learn more About Options to Avoid Foreclosure


The variety of options summarized below may help you keep your home. For example, you may be eligible to modify your mortgage, lowering your monthly payment to make it more affordable. Contact us to determine if you qualify.

Depending on your circumstances, staying in your home may not be possible. In this case, a short sale or deed-in-lieu of foreclosure may be a better choice than foreclosure – see below for more information.

Don’t delay, as failure to take action may result in foreclosure proceedings being initiated on your mortgage.


Options to Stay in Your Home

Reinstatement

Overview

Pay the total delinquent amount you owe, in a lump sum payment and by a specific date or pay less than the total amount owed followed by a forbearance plan as described below.

Benefit

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.

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Repayment

Overview

Pay back your past-due payments together with your regular payments over an extended period of time.

Benefit

Allows you time to catch up on late payments without having to come up with a lump sum.

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Forebearance

Overview

Make reduced mortgage payments or no mortgage payments for a specific period of time

Benefit

Gives you time to improve your financial situation and possibly qualify for a better option than would be available right now.

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Modification

Overview

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.

Benefit

Permanently modifies your mortgage so that your payments or terms are more manageable as a permanent solution to a long-term or permanent hardship.

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Options to Leave Your Home

Short Sale

Overview

Sell your home and pay off a portion of your mortgage balance when you owe more on the home than it is worth.

Benefit

Allows you to transition out of your home without going through foreclosure. In some cases, relocation assistance may be available.

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Deed-in-Lieu of Foreclosure

Overview

Transfer the ownership of your property to us.

Benefit

Allows you to transition out of your home without going through foreclosure. In some cases, relocation assistance may be available.

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We Want to Help


Take action to gain peace of mind and control of your housing situation. Call us at 1-800-582-9702 and we’ll talk about available options and help you understand the forms and documents we need from you to determine if you qualify for an option to avoid foreclosure.

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