Let us help you get back on track.
If you’re facing financial difficulties, we’ll do everything we can to help you and your family. We’ll guide you through the mortgage assistance process and help you explore all available options.
Let’s explore available options:
The amount of funds required to be paid to bring a delinquent mortgage loan account current. The reinstatement amount may include all past due payments, late charges, attorney advance, corporate advance, or other fees as may be allowable pursuant to the mortgage loan documents and applicable state law.
Any change to the terms of a mortgage loan, including changes to the interest rate, loan balance or loan term.
A promise to pay down past-due amounts on a mortgage over a specified time period while still making regular monthly payments.
The process in which an arrangement is made to sell the house by a real estate agent prior to the foreclosure sale. The sale price is less than what is owed on the mortgage.
An agreement to temporarily suspend or reduce monthly mortgage payments for a specific period of time. The mortgage company will then postpone legal action during the forbearance. A forbearance is usually granted when satisfactory arrangements are made to bring the overdue mortgage payments up to date.
DEED-IN-LIEU OF FORECLOSURE
The transfer of title of the property to the mortgage company to satisfy the mortgage debt and avoid foreclosure; also called a Deed-in-Lieu of
Foreclosure or a voluntary conveyance.
In order to best service our customers, it is imperative that we gathers some additional financial information.
To identify options specific to your situation, we’ll need to gather additional financial information. Please complete and return a “Borrower Assistance
Application” as soon as possible. Remember, no matter what your situation is, we are here to help.
All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification Program (HAMP) must consider eligible borrowers who do not qualify for HAMP for other foreclosure prevention options including Home Affordable Foreclosure Alternatives (HAFA), which includes short sale and deed-in-lieu. However, each servicer has some discretion in determining additional eligibility criteria and certain program rules. In order to assist borrowers and their representatives in understanding any unique components of a servicer’s HAFA Policy, Treasury has developed this HAFA Matrix. The summary information in this matrix is prepared solely by PLS Mortgage Servicing Corporation and does not represent any determination by the Treasury as to the servicer’s compliance with the Treasury’s policies and guidance for HAFA. Treasury does not endorse any language or policy described in this matrix. Any questions regarding the information contained in this matrix should be directed solely to PLS Mortgage Servicing Corporation.