Repayment Plan

A Repayment Plan is an agreement that gives you a fixed amount of time to repay the amount you are behind by combining a portion of what is past due with your regular mortgage payment. At the end of the repayment period you will have gradually paid back the amount of your mortgage that was delinquent. Most repayment plans consist of a down payment of 50% of the past due balance with foreclosure Attorney fees/cost included. The rest of the arrearage is divided up and added to your monthly payment for the next 6, 9, or 12 months.


Forbearance Plan

A Forbearance Plan is an agreement to temporarily let you pay less than the full amount of your mortgage payment, or pay nothing at all, during the forbearance period. Your lender may consider forbearance when you can show that funds from a bonus, tax refund, or other sources of future income will let you bring the mortgage current or qualify you for a repayment plan or loan modification at the end of the forbearance period.

To be considered for one of the above please click HERE to print the required financial paperwork.