It happens every year to tens of thousands of Americans. They lose their jobs, pile up big medical bills, or run into some other financial hardship and can't make their monthly mortgage payments. At First Bank, we understand that it's a helpless feeling, and we want people to know they can come to us to discuss their options.
- You might qualify for certain alternatives, such as a repayment plan or a modification of the loan term.
- A pre-foreclosure sale allows you to sell your home and use the net proceeds to satisfy your mortgage debt even though the proceeds are less than what you owe.
- A deed-in-lieu of foreclosure will convey your interest in your home to us to satisfy your mortgage debt.
Ready To Assist
To learn more about possible loan modifications and other options, please contact us at (800) 876-5566. Be prepared to discuss your monthly income and expenses. You'll need to have the following information available:
- Completed Borrower Financial Statement
- A breakdown of your monthly expenses in detail
- Your most recent pay stubs with year-to-date earnings
- The monthly pre-tax income of all the borrowers on the loan
- A copy of the most recent bank statements
- Documentation of a second home mortgage, if applicable
- Credit card account balances and payment details
- Other debt, balance, and payment details
Mortgage Relief
If you are experiencing a financial hardship and looking for mortgage relief, we are here to help. For assistance on what might be available to you, please contact us at (800) 876-5566 between the hours of 8:30 a.m. - 4:30 p.m. CT Monday through Friday or email [email protected].
Additional Resources
The U.S. Housing and Urban Development Department (HUD) sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. They can be reached at (800) 569-4287.
First Bank also offers these helpful resources:
Tips for Avoiding Foreclosure
How to Avoid Foreclosure
Consumer Financial Protection Bureau
HUD Approved Counselors and Agencies