Frequently Asked Questions (FAQ)
1. How do I know who my lender is and how to contact them?
Look at your monthly mortgage coupons or billing statements for the name of your lender and contact information.
2. I do not remember what type of mortgage loan I have, how can I find this information?
Look on the original mortgage documents or call your mortgage lender.
3. Do I need to keep living in my house to qualify for assistance?
Typically, yes, but call your lender to discuss your specific circumstances and get advice on options that may be available.
4. What type of information should I have ready to discuss with a lender?
Typical information requested by lenders in a workout package include:
Brief explanation of circumstances
Recent income documents
List of household expenses
5. My employer has already announced layoffs within the coming months, what can I do now?
By reading this information, you have taken the first step toward educating yourself about available options. Determine if the layoffs will cause a financial hardship that will make it hard for your family to make your mortgage payments. If so, consider other resources that you have available to pay your mortgage. Review your spending habits and see where you can reduce spending. If you have a lot of consumer debt, consider contacting a nonprofit, consumer credit counseling agency. Take advantage of any employer offered resources. If you still believe that you will have trouble making your mortgage payments, contact your lender right away.
6. Will there be any out-of-pocket expenses I will be responsible for if I am approved for a workout option?
Some workout options do include expenses that the borrower is expected to pay, for example, recording fees for a loan modification. Because, every situation is different you should contact your lender for more information. However, if a lender has no contact with a borrower and has to start foreclosure, the legal fees that the borrower will be expected to pay can be very expensive. To avoid unnecessary legal fees, call your lender as soon as you realize you are in trouble.
Mortgage Lenders
The federal government and the mortgage industry have partnered to assist those homeowners who have been negatively impacted by recent changes in the economy, or are concerned about the future. The mortgage lenders listed below are voluntarily participating in this special effort. If your lender is listed here, you can help protect your home by contacting them immediately!
Lender Phone #1 Phone #2
Bank of
Chase Home Finance (800) 848-9136
Chase Home Finance (800) 526-0072, ext. 533 (800) 527-3040
Citimortgage (800) 926-9783
Countrywide (800) 219-7773 (800) 669-4576
HSBC Mortgage Corporation (800) 338-6441 (888) 648-3124
Irwin Mortgage Corporation (888) 444-6446
James B. Nutter & Company (800) 315-7334
Midland Mortgage (800) 552-3000 (800) 654-4566
Mortgage Service (800) 449-8767
National City Mortgage (800) 367-9305
Principal Residential (800) 367-6448 (800) 962-4450
Waterfield Mortgage (800) 957-7245
Wells
Wendover Financial (888) 934-1081 (800) 436-1022
Washington Mutual Home (866) 926-8937 (800) 254-3677
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Chip | 544 Towne Center, Fayetteville, NY 13066
Phone: 315 449 6685 | Fax: 315 446 5366 | info@hodgkinshomes.com