Sometimes “life happens,” and interferes with your ability to stay current on your mortgage payments. Understanding all of the alternatives that might be available to you in times of hardship can be overwhelming. Our team of experts is here to help you understand your options and ultimately assist you in finding a resolution suitable for you and your family.

Whether you are able to remain in the home or have to make the difficult decision to leave it – we have many routes available, including the following:

Program Name

Description

HAF (Homeowners Assistance Fund)

An option to apply for federal assistance through your state to bring your account current. For more information on this program click here.

More information from the CFPB: HAF

Reinstatement

A complete payment of all open installments, late fees and loan charges.

Repayment Plan

A plan by which you pay a percentage of the past due balance each month along with your scheduled monthly mortgage payments until the loan is brought current - typically within 6 months.

Forbearance Agreement

A trial plan that must be completed to ensure a new monthly payment is attainable before entering into a permanent modification agreement.

Permanent Loan Modification

A permanent change in the terms of a loan after successfully completing a Forbearance Agreement.

Short Sale

An option for homeowners who wish to sell their home but are unable to garner a purchase price sufficient to satisfy the entire outstanding balance of the loan.

For more information please visit How do I apply for a short sale?

This option is not available for loans secured by property in Nevada.

Deed in Lieu of Foreclosure

An option for you to surrender and vacate your property in exchange for a waiver of the outstanding debt against the property.

To apply for assistance, click here for our Borrower Assistance application and a list of documents that you must submit in support of your application. You can fax your documents to 866-712-5697, or mail them to us at the following address:

Gregory Funding
Attn: Loss Mitigation
PO Box 230579
Tigard, OR 97281-0579

Once we receive your application for assistance, we will assign you to a skilled Loss Mitigation Specialists. This person is also known as your “single point of contact” or "SPOC".

It is very important to stay in touch with your single point of contact throughout the entire process. Be sure he or she always has the best phone number and times of day to reach you.

You will also receive written notices. For instance, we will advise you whether your application is complete and, if not, any documents and information that are missing. You’ll also be notified when we submit your complete application to underwriting and when we are ready to discuss the specific option or options we can offer.

For additional help exploring options to manage your account, the federal government provides contact information for housing counselors located in your area, whom you can select by visiting the Consumer Financial Protection Bureau website at www.consumerfinance.gov/find-a-housing-counselor or by visiting the Department of Housing and Urban Development (HUD) website at www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm or by calling the HUD Housing Counselor Hotline toll-free at 800-569-4287. A housing counselor can help you with household budgeting to manage mortgage loan payments and can also help you understand our loss mitigation programs and the range of foreclosure prevention options.

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