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Homeowner's Assistance

If you are having trouble making your monthly mortgage payment, PHH Mortgage can help. There are options available that may allow you to keep your house by making your payments more affordable. 

  • Repayment Plans - You may have had a short-term hardship that resulted in the inability to make your mortgage payment. If that hardship is resolved, a repayment plan may be an option for you. We will review your application for homeowners' assistance and determine if this is an affordable option for you. This will allow you to bring your mortgage loan current, without altering the terms or maturity date of your note.
  • Natural Disasters - PHH Mortgage Services and its employees are here to help as you recover from the devastation caused by the recent disaster. Learn More
  • Forbearance Plans - A forbearance plan may be an appropriate option for you if you are experiencing an unresolved, short-term financial hardship. This hardship may be due to loss of income resulting from unemployment, illness, or perhaps a disaster. A forbearance plan will allow you to reduce or suspend your mortgage payment for a set period of time.  We will review your application for homeowners' assistance and determine if this is a suitable option for you. Upon the conclusion of the forbearance plan, you will be required to repay the amount that is past due as a result of the forbearance plan. However, you can apply for a repayment plan or a modification to determine if you're eligible for either of those options to assist in resolving the delinquency to bring your account current.
  • Loan Modification - If you have experienced a financial hardship that resulted in the inability to pay your mortgage payments, or you anticipate that you may have trouble paying your mortgage timely due to a change in your financial circumstances (e.g. divorce, death of a borrower, or a long-term disability), then a modification of your existing loan terms may be the appropriate option for you.  Modification terms will be determined based on a review of your financial information provided by you in your complete application for homeowners' assistance. The potential terms are set forth by the investor of your loan. They could include a possible rate reduction, an extension of the term of your loan, or even a principal deferment to reduce your total monthly payment to an affordable payment so that you can remain in your home. 
  • Pre-Foreclosure Sale - This option allows you to sell your home for fair market value, which may be less than your mortgage debt and avoid foreclosure. You may also qualify for relocation costs. However, there can be negative impacts such as having to move out of the home and possible tax implications.
  • Deed-in-Lieu - Another effort to avoid a foreclosure is a Deed in Lieu (DIL).  This the practice of transferring the property to the lender and being released from the debt. The benefits are you avoid having to sell the home and may even qualify for relocation assistance.  However, there can be negative impacts such as having to move out of the home and possible tax implications.
Ready to apply? CLICK HERE and you will be taken to our Homeowner's Assistance Partner's website, where you will need to register and log-in to securely submit and process your request for assistance with your mortgage.