Posted on February 12, 2009
The following information is intended for REALTORS® and homeowners seeking information on existing mortgage workout programs. In general, the loan modification programs on the chart (see link below) and consumer information sheets (see links below) are intended for primary residences only.
For a lender comparison chart on existing mortgage workout programs,
click here. The chart is a compilation of programs offered by the larger lenders and government entities. If a specific lender or loan servicer is not on the chart, homeowners may wish to contact the lender or loan servicer to determine if a workout program is available.
For consumer information sheets containing detailed information on specific programs that REALTORS® can share with their clients, please click on the appropriate link below.
Mortgage loan modifications typically are handled on a case-by-case basis. Homeowners having difficulty meeting their mortgage obligation or interested in finding out more about a loan modification program should start by contacting their lender. Prior to calling a lender or loan servicer, homeowners should have the following information available:
- Loan number
- Income information and documentation
- Most recent mortgage statement
- Bank statements
- Letter demonstrating financial hardship