A repayment plan may be an appropriate solution if you cannot fully reinstate (pay all past due amounts) your loan but you can pay your regular monthly payment plus a portion of the past due amount. The length of a repayment plan will vary based on your ability to repay. At the end of the plan, your loan will be current.
If your loan is no more than 2 payments past due and you can bring the loan current in no more than 4 months, you can set up a repayment plan through our website. After you log in with your personal pin, select Home Loan Assistance and click the link to Update Your Financial Data to obtain repayment plan information. You complete your repayment plan immediately on line.
If your loan is more than 2 payments past due or you need a repayment plan longer than 4 months, call us at 888-504-7300, Monday – Thursday 6:00 am to 7:00 pm PST and Friday 6:00 am to 6:00 PST. If you do not have a Home Retention Specialist (your single point of contact) already assigned to you, we will assign one. Your Home Retention Specialist will work with you through the entire process.
Your Home Retention Specialist will ask you some basic questions about your income, expenses,your home and your intentions about your home.
You should have the following information available when you call:
- The reason why you cannot or expect not to be able to make your loan payments.
- The total amount of your income from all sources.
- An itemized list of your monthly expenses.
You can also update your financial information (income and expenses) through our website. Just log in with your personal pin, click on Home Loan Assistance and the link to Update Your Financial Data. Once there, follow the on-screen instructions.
Your Home Retention Specialist will review this initial information and determine if a repayment plan is the best solution for your situation.
You may be asked to provide documentation substantiating your income and certain expenses, as well as to submit a customer assistance application. We may also need to confirm the value and condition of your home.
If you home is in foreclosure, your repayment plan will need to include payment of any outstanding foreclosure fees and costs.
Processing time for a customized repayment plan is generally no more than 15 business days.