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Contacting Your Lender

Make Contact! As soon as you feel you may have trouble paying your mortgage you should contact the company that is servicing your loan.  The “Servicer” is the person who sends you your monthly statement.  It many cases your servicer is not the same company you worked with to get your loan.

 

It may seem counter-intuitive to reach out to the company that you owe money to, but these companies have entire loss mitigation departments dedicated to working with people who have run into trouble.  Especially in today’s environment, lenders do not want to foreclose on your home, the costs associated with a foreclosure and property maintenance often outweigh the cost of a program that might provide you with a mechanism to reduce your costs and stay in your home.




Next >> Loss Mitigation Departments

 

 
 
 























All Information Copyright NLMAA 2008.  The NLMAA is an LLC based professional association serving those in the loan modification industry.  We provide information and resources to loan modification and foreclosure prevention specialists.  The National Loan Modification Association and the NLMAA are programs of Lead Contact Solutions, LLC.  Although we are trying to develop a solid professional community, we are not a "non-for-profit" organization. 
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