Contact CTX Mortgage Loss Mitigation Dept. at 1-888-790-9500
Monday—Friday 8:30am to 5:00pm Central Standard Time
We would like to help you save your home. It is important for you to keep in contact
with your lender. There are many options available for you to take control of your
situation. Here are some possible options:
- Other sources of payment
-
You may be able to make payments on your home loan using any of the following:
- Funds from your 401(k) account.
- Ask your employer about whether it offers hardship withdrawals.
- Selling stocks and bonds you may own.
- The cash value of any life insurance policies you may own.
If you decide to use any of these sources to pay your home loan, please make sure
you understand any penalties or tax issues you may incur.
- Repayment Plan
-
If you have missed one or more payments, we may be able to create a repayment plan
for you that spreads out the past due amount over several months. Each month you
would pay your regular monthly payment amount plus part of the past-due amount until
you bring your loan current. Please contact us to see if this option is available
to you.
- Modify your loan
-
If your loan is past due, we may be able to work together to bring your loan current
through loan modification. We may be able to reduce the interest rate, extend your
loan term, or add your past due payment to the loan balance. The sooner we discuss
your loan the better the choices that are available to help you. Please contact
us to see if this option is available to you.
- Forbearance
-
We may agree to postpone a pending foreclosure sale to give you an opportunity to
make reduced monthly payments for a short period while we develop a long term solution
for you. If you are experiencing a temporary hardship, trying to sell your home,
or attempting to change the terms of your loan, we may be able to offer you a forbearance
plan. Please contact us to see if this option is available to you.
- Short Sale
-
Depending on your situation, selling your home may be the best option. We may be
able to accommodate a short sale where we agree to accept less than the full payoff
of your loan. Get started by providing the information on the Homeowner Financial
Analysis below. Please contact us to see if this option is available to you.
- Deed-in-Lieu
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With a deed-in-lieu of foreclosure, borrowers voluntarily transfer ownership of
their house to their lender. If you do not have any other loans, liens, or judgments
against your house, you may be able to qualify for a deed-in-lieu, but we must consider
all other options first.
- Additional sources of help
-
Find a HUD-approved Credit Counseling Agency by phone at 1-800-569-4287.
CTX is here to help. Give us a call at 1-888-790-9500 or complete the Homeowner Financial Analysis
Form and fax to 214-260-6760.