Federal Housing Administration (FHA)
Modification

Call us

800 669 6650

800 669 6650 Mon-Fri 8 a.m. - 8 p.m. Eastern

Help is available in English,
Spanish and many other languages

Is an FHA Modification right for you?

An FHA modification may lower your monthly mortgage payment.

Eligibility

You may be eligible1 if:

  • Your first mortgage is an FHA-insured home loan.

    To see if your mortgage may be FHA-insured, look at page 2 of your monthly loan statement.

    On the right side of the document under "Loan Type and Term," you'll see the length of the term and the type of loan. If you're having difficulty finding the information, call us.

    If you don't have an FHA loan, other options may be available.


  • You own the home and it's your primary residence
  • You have had your FHA-insured mortgage for at least 12 months
  • You've made at least four full payments during the life of your loan
  • You're having trouble paying your mortgage due to an increase in your mortgage payment or a reduction in your income

There are additional eligibility requirements for this program. Please contact us to learn more.

There are no fees and no minimum credit score requirements with this program. However, you will be responsible for certain costs, expenses and fees associated with the servicing of your loan that were incurred by you before you entered into the FHA Modification Program (such as foreclosure attorney fees). When your FHA Modification becomes final, all prior late charges will be waived.

What if I'm not eligible or get declined?

Please call us to discuss other options. If we can't find another home retention option that works, you may need to consider options that involve leaving your house.

If your house is currently worth less than the amount remaining on your loan, you may be able to sell your property in a short sale.

Next steps

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Submit to us

When you call us to request an FHA Modification, we'll review your situation, confirm that you meet the requirements for this program and then send you a financial information packet.

Throughout the process, you'll have a Customer Relationship Manager who will answer all your questions and help guide you through the steps you'll need to take.

Approval

When you receive the financial information packet, you'll need to complete, sign and send us your completed forms and documents to us as soon as possible.

After we receive your documents, we'll contact you within five business days if any documents are incomplete or missing.

Once we have all of your required documents, it will take us 30 calendar days to complete the evaluation process and notify you of our decision.

Trial period

If approved, you'll start a three or four month trial period to make sure you can afford the new payments.

We'll send you a Trial Period Plan Notice explaining the terms, the amount, the deadline to accept the terms, and the date your first trial payment is due. You can make payments by mail or over the phone.

Once you've made all trial payments, we'll send you a letter and the Modification Agreement.

Permanent Loan Modification

The Modification Agreement defines the changes to your home loan. This agreement must be signed, notarized and returned to us by the deadline before your modification becomes permanent.

A permanently modified loan is reported to credit bureaus and may negatively impact your credit

Call us

800 669 6650

800 669 6650 Monday - Friday 8 a.m. - 8 p.m. Eastern

Help is available in English, Spanish and many other languages

1 These eligibility requirements are informational and are not intended as a commitment to modify your home loan nor is this an exhaustive list of the parameters of the Program.