If there isn’t a financially feasible way for you to keep your home, a short sale is an option that can give you a fresh start and avoid the foreclosure process. A short sale can allow you to sell your home for less than you owe on the mortgage, pending investor approval.

DIL means that you voluntarily transfer ownership of your home to your lender, the lender terminates the loan, and the remaining balance due is forgiven. Note: A DIL may have tax consequences and/or impact your credit, so you’ll want to contact your tax advisor to discuss these poten...

Mortgage assistance is a general term that covers a variety of programs and solutions intended to help homeowners who are experiencing financial difficulty and having trouble making their mortgage payment. What kind of assistance options are available if I cannot pay my mortgage?

What To Expect at Closing. Here’s what you can expect during the closing process: Before Closing Day. In the days leading up to closing day, your lender will send you a Closing Disclosure, which outlines what you need to pay at closing and summarizes your loan details. You’ll also ne...

The United States Department of Housing and Urban Development (HUD) has trained housing counselors who can talk through your situation and options with you. They’re ready to help with your questions about credit, foreclosure, rentals, and much more. Get started by finding a HUD c...

HUD Counseling. The United States Department of Housing and Urban Development (HUD) has trained housing counselors who can talk through your situation and options with you. They’re ready to help with your questions about credit, foreclosure, rentals, and much more. Get started by f...

Understanding Closing Costs. Here are some of the most common closing costs: Escrow Deposit. The money you put in an escrow account each month is used to pay property taxes and insurance related to your property. Some lenders may require you to escrow depending on the circumstances...

Potential Mortgage Assistance Solutions. Solutions may include, but are not limited to: refinancing; repayment plans; loan modification; short sale; and. Deed in Lieu of Foreclosure. Complete a mortgage assistance application online now and let us know what’s going on.

We’ll send you an Escrow Review Statement that explains the results of the escrow analysis. Your statement will inform you whether your monthly payment is going up or going down in the year ahead, based on this year’s tax and insurance payments.

If the lowest projected balance is less than your minimum required balance, you have a shortage. If the lowest projected balance is more than your minimum required balance, you have a surplus. Example: Let’s say your minimum required balance is $600.