Avoiding Foreclosure and Keeping Your Home
Losing a home due to unexpected events can be devastating and many times can be avoided. If you are facing financial problems, now is the time to reach Housing and Credit Counseling. There are Homeownership and Credit Counseling Agencies that may be able to assist you. Housing counselors can help you organize and budget your finances to pay your mortgage. To find a reputable agency in your area please contact the U.S. Department of Housing and Urban Development (HUD) at (800) 569-4287. You can also find a list of HUD-approved agencies in your area by visiting the HUD web site at Talk to a Housing Counselor for help to save your home. If you are past due one or two payments, it's not too late to put together a plan to reinstate your loan by liquidating assets or getting assistance from family and friends.
Steps You Can Take Now
Alternatives to Foreclosure
- Do not ignore the situation
- Contact DHI Mortgage Loan Servicing as soon as you realize there is a problem
- Return DHI Mortgage Loan Servicing phone calls and read correspondence from us carefully
- If you have made a promise to pay, do not break it
- Contact a Home Ownership and Credit Counselor
- Prioritize your spending, eliminate optional expenses, and budget realistically
||HOW IT WORKS
||Allows you to pay your delinquent amount over 6-12 months by adding the amount to your normal payment
||Adds past due amounts to the unpaid balance of the loan and extends the term
||Allows you to sell your home and pay off your mortgage loan even though your property may be located in a declining market
|Deed in Lieu of Foreclosure
||Allows you to deed your property to your lender rather than go through the lengthy legal process of foreclosure.
Please contact DHI Mortgage Loan Servicing by phone or in writing to discuss your situation and learn what you need to do to avoid foreclosure.
DHI Mortgage Loan Servicing
10700 Pecan Park Blvd. Ste. 450
Austin, TX 78750
Phone: (866) 350-7746
to Email Us
What Do You Need to Provide When Requesting Assistance?
We will typically request that you discuss your income, assets and liabilities with us and provide bank statements, pay stubs, and give us your authorization to pull your recent Credit Bureau Report. We will need copies of the following items so we can process your request in a timely fashion:
Housing and Credit Counseling
- Two full months’ pay stubs showing year-to-date earnings
- Last two years' W-2's
- Last two months' bank statements (or last quarterly statement), all pages, all accounts
- Last statement on any 401(k)/retirement accounts, all pages
- For self-employed or commissioned borrowers:
- last two years' personal Federal tax returns and
- a year-to-date profit and loss statement (unless W-2 employee w/ paystubs)
- If you receive Social Security benefits, a copy of your awards letter
- If you receive child support, a copy of your child support order if separate from divorce decree. Alimony, child support, or separate maintenance income need not be revealed if you choose not to have it considered for repaying the loan.
- If you own any rental property:
- copies of lease agreements and
- last two years' personal Federal tax returns
- If you have a HOA, a copy of your latest HOA statement
There are Homeownership and Credit Counseling Agencies that may be able to assist you. Housing counselors can help you organize and budget your finances to pay your mortgage. To find a reputable agency in your area please contact the U.S. Department of Housing and Urban Development (HUD) at (800) 569-4287. You can also find a list of HUD-approved agencies in your area by visiting the HUD web site
To learn more about avoiding foreclosure, please go to the Help for Homeowners Facing the Loss of their Home
website brought to you through the collaborative efforts of HUD/FHA, the Department of Veterans Affairs, Department of Labor, Fannie Mae, Freddie Mac, and members of the mortgage industry.