I want to stay in my home
If you're having trouble paying your mortgage, the following home loan assistance programs were created to help homeowners stay in their homes and make their payments more affordable.
- Home Affordable Refinance Home Affordable Refinance definition: If you don't have enough equity to qualify for traditional refinancing, you may still be able to refinance at a lower interest rate.
- Refinance Refinance definition: If you have at least 2.25%-5% equity in your home, you may be able to lower your monthly payments by refinancing at a lower interest rate.
- Home Affordable Unemployment Program Home Affordable Unemployment Program definition: If you're currently unemployed, you may qualify for suspended payments while you look for new employment.
- Forbearance Forbearance definition: If your hardship is temporary, we may be able to reduce or suspend your mortgage payments until your situation improves.
- Home Affordable Modification Home Affordable Modification definition: If you can't afford your monthly mortgage payments due to a financial hardship, you may qualify for a loan modification.
- FHA Home Affordable Modification FHA Home Affordable Modification definition: If you have an FHA loan, you may be able to reduce your mortgage payments to a more affordable level.
- Home Affordable Modification Program Military Modification Home Affordable Modification Program Military Modification definition: If you're a military servicemember having difficulty making your mortgage payments, you may be eligible for assistance, including principal forgiveness.
- Bank of America Home Loan Modification Bank of America Home Loan Modification definition: Different loan modification programs may be available to make your payments affordable and help you avoid foreclosure.
- Home Affordable Second Lien Modification Home Affordable Second Lien Modification definition: If you've permanently modified your first mortgage under HAMP, help may be available for your home equity loan or home equity line of credit.
- Home Equity Assistance Home Equity Assistance definition: If you have a home equity loan or home equity line of credit and were unable to qualify for the Home Affordable Second Lien Modification Program, other home equity assistance programs may be available.
- Hardest Hit Fund Hardest Hit Fund definition: If you live in one of the states most affected by housing price declines and the recession, a variety of assistance programs may be available.
I would consider leaving my home
If you're unable to make your loan payments and you have explored all the available options for staying in your home, these are the home loan assistance solutions to consider for settling your home loan debt.
- Home Affordable Foreclosure Alternatives Home Affordable Foreclosure Alternatives definition: If you owe more on your mortgage than your house is worth and are considering a short sale, by working with us from the start, you may be eligible for added benefits such as relocation assistance.
- Federal Housing Administration (FHA) Short Sale Federal Housing Administration (FHA) Short Sale definition: If you have an FHA loan, are struggling to make your monthly home loan payment and may be heading toward foreclosure, this program offers an alternative for settling your mortgage debt.
- Cooperative Short Sale Cooperative Short Sale definition: If you owe more on your mortgage than your house is worth and want to participate in a short sale but do not qualify for the Home Affordable Foreclosure Alternatives (HAFA) program, a Cooperative Short Sale may help you avoid foreclosure.
- Traditional Short Sale Process Traditional Short Sale Process definition: If you already have a potential buyer for your home but do not have prior approval from us to pursue a short sale, we can help you understand what steps are required for approval.
- Deed in Lieu Deed in Lieu definition: If you can no longer afford your monthly payments and are unable to sell your home, you may be able to settle your loan by signing the home over to your lender.
A foreclosure can happen to anyone for any number of reasons. If you feel you may be heading toward a foreclosure, or even if you've already received a foreclosure notice, there may be alternatives.
Learn More about Foreclosue
Homeowner Counseling Services
Non-profit organizations and government home loan assistance programs are available to help you create a unified, coordinated plan to help you resolve your current situation.
Learn More about Homeowner Counseling Services
NOTE: The application deadline for the Home Affordable Unemployment Program is September 30, 2016. For applications received after September 30, 2016, the Unemployment Program will no longer be available.
The application deadline for the Home Affordable Modification Program, the Home Affordable Military Modification Program, the Home Affordable Second Lien Modification Program, and the Home Affordable Foreclosure Alternatives Program is December 30, 2016. For applications received after December 30, 2016, these programs will no longer be available.