- mortgage modification;
- repayment plan;
- assumption; and
- waiver of late charges and other fees.
The Title I Lender may provide a forbearance as needed to arrange repayment plans or modification agreements that would bring the loan current.
For a mortgage modification plan, the plan may allow for skipped payments or reduced payment amounts that increase over time, to ensure the delinquent or defaulted loan is brought current before the end of the loan term. A mortgage modification plan must not increase the loan term or interest rate.
All requests for information or clarification related to Title I servicing and loss mitigation options should be directed to your Title I Lender.
You may also wish to contact a HUD-approved housing counseling agency in your area for unbiased counseling on your particular situation. HUD-approved housing counseling agencies may be located:
- By calling HUD's interactive voice system at 1-800-569-4287; online at: https://apps.hud.gov/offices/hsg/sfh/hcc/hcs.cfm; or through the Consumer Financial Protection Bureau (CFPB) at: https://www.consumerfinance.gov/find-a-housing-counselor/
- Additional housing counseling information is available at: https://www.hud.gov/i_want_to/talk_to_a_housing_counselor