Contact your lender as soon as you realize that you have a problem.
Lenders do not want your house. They have options to help borrowers through difficult financial times.
When calling your servicer, please make sure you have the following information available; Name, Address, Telephone number, Email Address, Servicer’s Name, Loan Number, Current Income and Expenses, Reason for Default, Is the loan in bankruptcy? (if yes, you will need to provide the names , location, case number, and attorney), Is the property owner occupied?
|Acqura Loan Services||866-660-5804|
|Aurora Loan Services||800-550-0509|
|Bank of America||800-846-2222|
|Carrington Mortgage Services||800-790-9502|
|Citi Mortgage/ Citi Residentail||866-915-9417|
|Countrywide Home Loans||800-669-6650|
|EMC Mortgage, Inc.||877-362-6631|
|First Horizon Home Loans||800-364-7662|
|Home Loan Services, Inc. (d/b/a First Franklin Loan Services and NationPoint Loan Services)||800-500-5022|
|HSBC Consumer Lending||800-333-5848|
|HSBC Mortgage Services||800-365-6730|
|HSBC Mortgage Corporation||888-648-3124|
|JPMorgan Chase Prime Loans||800-446-8939|
|JPMorgan Chase Non-Prime||877-838-1882|
|JPMorgan Chase Home Equity||866-582-5208|
|Litton Loan Servicing||800-999-8501|
|National City Mortgage Corporation||800-523-8654|
|Nationstar Mortgage, LLC.||888-480-2432|
|Ocwen Loan Servicing, LLC.||877-596-8580|
|Option One Mortgage Corporation||888-275-2648|
|Saxon Mortgage Services||888-325-3502|
|Select Portfolio Servicing||800-258-8602|
|SunTrust Mortgage, Inc.||800-443-1032|
|Washington Mutual, Inc.||866-926-8937|
|Wells Fargo Home Mortgage||877-216-8448|
|Wells Fargo Financial||800-275-9254|
|Wilshire Credit Corporation||888-917-1050|
If you are unable to make your payments try one of these options first ...
Forbearance. You are allowed to delay payments for a short period, with the understanding that another option will be used afterwards to bring the account current.
Reinstatement. When you are behind in your payments but can promise a lump sum to bring payments current by a specific date.
A Repayment Plan. If your account is past due, but you can now make payments, the lender may agree to let you catch up by adding a portion of the past due amount to each current monthly payment until your account is current.
Modifying Your Mortgage. The lender can modify your mortgage to extend the length of your loan (or take other steps to reduce your payments). One solution is to add the past due amount into your existing loan, financing it over a long term.
Selling Your Home. If catching up on payments is not possible, the lender might agree to put foreclosure on hold to give you some time to attempt to sell your home.
Property Give-Back. The lender can allow you to give-back your property – and then forgive the debt. Give-backs do, however, have a negative impact on your credit record, although not as much as a foreclosure. The lender might require that you attempt to sell the house for a specific time period before agreeing to this option, and it might not be possible if there are other liens against the home.
Do not pay for help - there are many free services available to homeowners to prevent foreclosure.
If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.
For immediate help and guidance 24 hours a day/7 days a week, call 1-888-995-HOPE (NeighborWorks). You will receive absolutely free foreclosure prevention counseling by expert counselors at HUD-approved agencies. Homeowners can get budgeting help, a written financial plan, and assistance in contacting their lender. If you’d like face-to-face counseling or need local resources, homeowners are referred to their local NeighborWorks® organization or other counseling organizations
To read more about New York State specific laws on foreclosure visit this website.
To download many of the New York state's Banking Department worksheets and informational brochures visit their site here.
Ed. note: much of this information was gained from the NeighborWorks and HUD websites.