Protect what you have

No matter your individual situation, you have multiple options you can pursue. Whether your intention is to stay in your home or sell it, your lender or servicer may be able to help. Here's more information:

Keep your home
If you're facing foreclosure, you may still be able to keep your home. This requires you to be proactive and work with your lender or servicer, or a professional counselor. Here are steps you can take to try to retain your home:

1. Contact your lender
2. Write a hardship letter. Learn more.
3. Complete the necessary homeowner assistance forms. You can find them here.
4. Work with your lender or servicer to determine an affordable workout option
5. Stick to the budget and follow the plan steps outlined by your lender or servicer
6. Keep copies of your communication and documents
7. Stay focused and continue communicating with your lender, servicer and the counselor

Whether you decide to go with a modification, repayment plan or extension, you will need to supply the following documents to your lender or servicer:*

1. Hardship Letter
2. Breakdown of Expense (a budget from a counselor or a completed Hardship Assistance Package)
3. Proof of Income (regardless of employment status):
   • 2 recent consecutive pay stubs, or
   • 2 consecutive months of bank statements, or
   • 2 consecutive tax returns

*Other information may be required.

Moving out of your home
Even if you are not able to keep your home, all is not lost. You can still decrease the financial impact of foreclosure. It is important to work with your lender or servicer to take the right steps:

1. Contact your lender or servicer
2. Write a hardship letter. Learn more here.
3. Complete the necessary homeowner assistance forms. You can find these forms here.
4. Work with your lender or servicer to identify an action plan for your situation
5. Stick to your action plan and follow the steps
6. Keep copies of your communication and documents
7. Stay focused and continue communicating with your servicer, lender and counselor
8. Regardless of the outcome, keep the following steps in mind when you speak to the counselor:
   • Provide detailed information about your financial status
   • Provide detailed information about your hardship
   • Provide a signed and dated authorization to release information to the counselor, or real estate agent or Title Company, so he or she can communicate with the servicer on your behalf
   • Provide the Listing Agreement and Real Estate Purchase Agreement
   • Provide a HUD1 or Settlement Statement — obtained from the lender or real estate agent