Home Preservation Program
Answers. Alternatives. Action.
All right here. Since our business is about expanding homeownership – putting more people in homes and helping to keep them there – we understand how devastating the prospect of losing your home can be. We also understand that what you need now are clear answers, alternative solutions, and immediate action. We’re here to help.
If your loan is insured by PMI Mortgage Insurance Co., chances are good that our Loss Mitigation Specialists can help you either find solutions to avoid foreclosure or reduce its impact. We’re here to help at no charge to you. But the first step is up to you.
Step One: learn about the workout options that might be available to you.
Step Two: complete our Financial Information Form so that our Loss Mitigation Specialists can best assess your particular situation and help you faster.
Step Three: contact us.
Retain Ownership of Your Home:
By working together with your lender, our Loss Mitigation Specialists may be able to find an alternative to foreclosure:
- Refinance: pay off your existing mortgage loan with the proceeds from a new loan.
- Repayment Plan: catch up on missed payments by paying more than one full payment per month until your account is brought current.
- Forbearance Plan: allows the suspension of all or part of your monthly payment for a specified time period, based on lender agreement.
- Loan Modification: allows changes to the original terms of your promissory note which may include any combination of the following: an adjustment to your interest rate; an extension of the term of your loan; or an increase in your loan amount by the amount past due.
When Homeownership is No Longer an Option:
Even if you are unable to keep your home, there are options to foreclosure. By working together with your lender, our Loss Mitigation Specialists will make every effort to help you find an alternative to foreclosure:
- Short Sale: occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien secured to the property upon receipt of less money than is actually owed.
- Deed-in-Lieu of Foreclosure: allows the transfer of a property to the lender without going through the foreclosure process. This is usually a “last resort” option and may follow other options such as an attempt to sell the property.
If your loan is insured by PMI Mortgage Insurance Co., we can help. But the first step is up to you. Take that first step today:
Contact Us*
*Disclosure
As you may be aware, PMI Mortgage Insurance Co. provided your lender with mortgage insurance on your real estate loan. Our communication with you is considered to be debt collection and we are acting as a debt collector. We must also advise you that this communication is an attempt to collect a debt and any information obtained will be used for that purpose.
