In the mortgage industry, hardship is defined as the reason why a homeowner is having difficulty making his or her mortgage payments, such as job loss, medical emergency, illness, divorce, etc. A hardship may be short term (less than six months) or long term (more than six months).
Unfortunately, in today’s economy, more and more people are experiencing a financial hardship and having difficulty paying their mortgage. If you find that you are struggling to meet your payments and concerned about falling behind, call us now—we’re here to help!
We’ve helped more than 71,000 homeowners avoid foreclosure by working together on loan modifications, and we’ll work WITH YOU on your unique situation to find the best solution FOR YOU.
There may be multiple assistance options available to you if you are having difficulty paying your mortgage. Qualification depends on your financial situation and factors relating to your loan(s). For example, we may be able to modify the terms of your loan, potentially reducing your interest rate and thus your payment amount. If you are not able to keep your property, there may still be options available to you other than foreclosure, like selling your home for less than the balance or deeding your property in exchange for cash or a six-month lease.
Now that you have reviewed your options, take the next step. By contacting us and providing some basic information, we are able to help determine what options may be available for you. Once we review your options — together — and reach a decision on your course of action, you’ll need to make a formal request for help. Pull together information on your mortgage, income, and expenses, and complete the following initial documentation. Be sure to be as accurate as possible, as this is the information that we will use to evaluate your request.
For detailed information on additional documentation required and to submit documentation online, please log in.
For your convenience, we offer a number of options to send us your documentation:
Once we receive a completed package from you, we will begin the review of your situation and documentation, which can take up to 30 days. You may be asked to provide additional documentation or sign additional documents. If we do not receive them, the offer will be void and you may have to start over. It’s worth repeating that we cannot evaluate incomplete packages! Not sure you’ve done everything you need to? Contact us.
You can also check the status of your modification online.
Once you have been approved for a program, you will be assigned a personal point of contact to help you throughout the process.