Having trouble making your house payments?
Sunday, October 5, 2008 8:19Having financial difficulty? Many lenders will want to help you find solutions, although some like BOA will tell you to go to @$^%.
The basic approach for home lenders to help home owners that are behind on payments it to offer:
* Payment plan options
* Modify your interest rate
* Modify your monthly payments
These are some of the ways lenders may be able to help you, but you must Call them.
Relief Starts with a Phone Call
Everyone goes through difficult times, and that’s when you need someone on your side the most. Whether you have questions about your mortgage or home equity, our trained associates have solutions that may be right for you.
Mortgage and Home Equity
If you’re having trouble keeping up with payments, we may be able to help you get back on track with:
* Repayment plans up to 12 months
* Extensions from 1-3 months
* Modifications to the rate, term and monthly payment of your loan or line of credit
* Debt management programs with internal or nonprofit independent agencies
The sooner we can talk, the sooner we can try to help.
Housing and Urban Development (HUD) can help you too.
HUD is a U.S. government agency that increases home ownership and supports home buyers. HUD offers free or low-cost counseling throughout the country. To find out where the nearest counseling agency is in your area, please call (800) 569-4287.
Your Next Steps:
Call your lender today.
Please be prepared to discuss household income and expenses.
You should collect together and be prepared to fax or mail one or more of the following and have ready when you call:
* Have your Loan Number and Property Address at hand
* A brief explanation of your circumstances
* Recent income documents (such as Pay stubs; Benefit statements from Social Security, Disability, Unemployment, Retirement, or Public Assistance. If you are Self-employed, have your tax returns or a Year-to-Date Profit and Loss statement available for reference)
* Bank Statements and Tax Returns for Past 2 Years
To Our Success,
Mark
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