What type of assistance do I qualify for?
Qualification for assistance is determined upon the review of your specific circumstances and will be based on personal financial ability, hardship and intentions.
What is considered a "hardship"?
A hardship is a change in circumstances that affects your ability to satisfy your financial obligations.
What is a workout?
The plans we "work out" with our Customers to pay back their loans are called "workouts." They include payment plans, loan modifications, forbearance, short sale and deed-in-lieu of foreclosure, or a combination of these options.
What is the difference between a workout and a refinance?
Our specialists review workouts in a situation where a Customer has suffered a hardship and may be delinquent. We will review the situation, make a recommendation and attempt to workout the existing account. A refinance is a new loan which pays off your account and would not be handled by a workout specialist.
I have lost my job or my hours have been reduced, what should I do?
Depending on your financial ability you may qualify for different workout options, but you will need to call and discuss your specific situation with a specialist. We offer solutions based on financial ability. Call us at 800-222-5522.
I have fallen behind on payments, but can now afford them. What can I do about the payments I am behind on?
We have the ability to offer solutions that may extend, defer, modify or adjust payments that are due to the bank. We strongly encourage you to call so we can discuss which option will best suit your situation. Call us at 800-222-5522.
What is foreclosure?
A foreclosure is the legal proceedings initiated by a lender to seize the collateral for a loan that is in default.
What is repossession?
Repossession is the taking back of collateral by a lender from the borrower(s), usually due to default or failure to meet other terms in the contract.
What if I am already facing foreclosure or repossession?
Time is of the essence, and you need to talk with us immediately to see if there are any workout options you may qualify for. Don't delay. We may be able to provide assistance even after a foreclosure or repossession has been initiated.
My financial situation is stressful and I just don't know what to do.
We can appreciate that dealing with financial hardship can be very difficult. We are here for you. Record your monthly budget and then give us a call at 800-222-5522 to see how we may be able to help you.