Loan Modification

We are glad that you have entrusted the Neighborhood Housing Services of the East Bay to assist you. Here is what you can expect:

AT NHS:

◊  Download and complete the Foreclosure Prevention Application,   Solicitud al embargo hipotecario.

         Here you will find other downloadable forms that may be pertinent to your case.

        Rental P&L - HERE            Self Employed P&L - HERE            REO Schedule - HERE

and submit it along with copies of ALL the required documentation. Be sure to include your loan number in upper right hand of all pages submitted with your application package. The package can be delivered by mail, certified mail or courier. NO FAXES.

◊  Your completed application will be uploaded into our electronic database for processing.

◊  Counselors process applications according to the urgency of the case. (For example, clients with a SALES DATE are processed before clients who are still currently on their payments).

◊  If your file is incomplete, your case will be delayed. Pay special attention to your hardship letter. A hardship letter has to be covering these points: 1.-Cause of the hardship (loss of job, death in the family, reduction in hours, etc.); 2. - Why did it happen (company layoffs, household repairs, etc); 3. - When did it happen (date should include at least a month and year); 4.-How and when you resolved or planning to resolve the hardship (date should include at least a month and year); 5. - Your intent to keep the subject property. You must submit before we can make contact with your lender.

Once your file is complete, we will submit it to your Lender. This many take up to 72 hours to be registered in their system.

AT HOME:
*  Maintain regular communication with your Lender.
            Call your Lender's Loss Mitigation Department at least twice per week (more often if possible).
            Keep a log record of who you talked to by name, and their ID number, date, time, and a briefly description of what you talked about. Ask if there is a sale date and if your file has been assigned to a negotiator.
            Fax updated documents as they are received to the Lender (such as paystubs and bank statements). Always write your loan number at the upper right hand corner of every page you submit to the Lender and your counselor.
*  Maintain regular contact with your counselor.
            The most effective way to reach your counselor is by email. Make sure you have it.
            Fax to: (510) 237-6482.
            Call: (510)237-6459 and dial the appropriate extension.
*  Save money.
            Follow the budget plan with your counselor.
            If you are no longer making mortgage payments, save the amount you would be paying in a separate account.
*  Protect yourself.
            Many people are the targets of criminal foreclosure scam activity. DON'T BECOME A VICTIM!
            Avoid and report any company that sends you letters or calls that guarantee an outcome.
            Ask for a fee in advance; ask for your file or to sign over the deed to your home.
*  Be patient.
            It can take up to six months for a lender to make a final decision on your file.