Foreclosure
Alternatives
We're Here To Help
We know life can be unpredictable. If you’re having trouble making, or keeping up with your mortgage payments, we might have options to help you stay in your house and avoid foreclosure.
Home Retention Options
We have several options that could help you stay in your house, from refinancing, to modifying your loan payment, starting a repayment plan, and more.
Refinancing
A new mortgage could mean a lower monthly payment and possibly a lower rate and/or shorter term.
- A good option for people who need to lower their monthly payments to fit their budget
Reinstatement
A lump-sum payment of the total amount owed by a specific date.
- The best option to avoid foreclosure by bringing their mortgage current
Repayment Plan
Make up missed payments by adding a portion of the past due amount to your regular monthly payment over a set time period.
- A good option to give people time to catch up on late payments
Forbearance Plan
Make reduced mortgage payments, or no payments for a set period of time.
- A good option for people who need to get their finances back on track
Deferment
Missed payments are paid at the end of the original mortgage loan term.
- The best option for people who needed to get back on track and are able to resume their regularly scheduled payments
Loan Modification
Make your home affordable by adjusting the terms of your mortgage to reduce your monthly payments.
- A good option for people who need more manageable payments or terms as a solution due to a long-term or permanent hardship
Contact Our Team
Your first step is to contact our Credit Solutions Team. They can help you understand what options might be available to you.
How To Contact Us
Our team is available Monday – Friday 8:30 AM – 5:00 PM.
Phone Number
800.442.2800 ext. 8890
What You Can Expect To Discuss
- Details of your hardship
- Your intentions to keep or sell the home
- Status of the property and lien information
- Property tax & homeowners insurance information
- Income & expense information for you and all co-borrowers
Other Options
Another option you may consider exploring is Department of Housing and Urban Development-approved counseling. HUD counselors are also available to provide you with the information and assistance you may need to avoid foreclosure. To find HUD-approved organizations in your area, you can call or search online below.
HUD Phone Number
800.569.4287
Beware of Foreclosure Scams
Scam artists are more clever today than ever before as they attempt to lure you into their trap with promises of immediate relief from foreclosure, or they demand money for financial counseling services. If an offer sounds too good to be true, it probably is. Always remember, help is free from is free from the U.S. Department of Housing and Urban Development (HUD).
How To Spot a Scam
Beware of a person or company who:
- Asks for a fee in advance to work with your lender to modify, refinance, or reinstate your mortgage
- Guarantees they can stop a foreclosure or get your loan modified
- Advises you to stop paying your mortgage company and pay them instead
- Pressures you to sign over the deed to your home or sign any paperwork that you haven't had a chance to read and don't fully understand
- Claims to offer "government approved" or "official government" loan modifications
- Asks you to release personal financial information online or over the phone, though you have not been working with this person and/or do not know them
How To Report a Scam
If you think you've been the victim of a scam, you can do the following:
- Visit the Loan Modification Scam Prevention Network at preventloanscams.org and submit an online complaint form. You can also fax, e-mail, or mail the completed form by referring to the back of the form.
- The Loan Modification Scam Prevention Network is a national coalition of governmental and private organizations led by Fannie Mae, Freddie Mac, NeighborWorks America™, and the Lawyers’ Committee for Civil Rights Under Law).
- Call 1-888-995-HOPE (4673) and inform the counselor about your situation and that you think you’ve been involved in a scam. The Homeowner’s HOPE™ Hotline provides free, 24/7 comprehensive foreclosure assistance and housing counseling services.
