OPTIONS THAT MAY BE AVAILABLE TO AVOID FORECLOSURE

AmeriNational is committed to helping you keep your property and your mortgage in good standing. If you are having difficulties making your mortgage payment, we strongly encourage you to call our Loss Mitigation Department so that we may assess your financial situation and explore your options to avoid foreclosure. One of the main reasons foreclosures occur is that homeowners facing financial difficulties stop communicating with the company that collects their mortgage payment. In most cases, if a homeowner is willing to work with that company, that company will consider every option available to assist that homeowner.

Some of the options which may be available to you are:

• Reinstatement - This entails your paying the total amount that is past due by an agreed-upon date.
• Forbearance Plan (Repayment Plan) - This arrangement allows for an alternative payment amount to be made over a prescribed period of time in order to bring your mortgage current. A typical forbearance plan may require paying a full payment each month, plus a partial payment on the delinquent amount, until such time that the entire delinquent amount is completely paid.
• Modification - This is a way to bring a mortgage loan current by modifying or restructuring the respective mortgage loan to accommodate a homeowner’s financial situation that has changed since the loan was originally made. This typically entails changing the repayment terms to make the mortgage payment more affordable. The changes that may be available to you are specific to your existing loan terms and will be discussed with you during your interview with our staff member.
• Deed in Lieu of Foreclosure - A Deed in Lieu of Foreclosure is where you transfer ownership of your property to the lender in exchange for being forgiven the entire amount of the mortgage and avoiding going through the foreclosure process.

The first and easiest step towards determining if we can help you avoid foreclosure and keep your property is to place a toll free call to our Loss Mitigation department at 1-800-943-1988 between the hours of 8:00 – 5:00 PST. By reaching out to us, a member of our staff will listen to your situation and gather all pertinent information necessary to explore the options that may be available to you. The sooner you call us, the faster we’ll know if and how we can help you.

In order to commence the initial assessment of your financial situation, when you contact our office, please have the following information and financial documents available for each Borrower on the mortgage:

• Loan number
• The nature and expected duration of your hardship situation. 
• Supporting documentation for all income sources: 2 most recent paycheck stubs, YTD Profit & Loss (if self-employed), Social Security / SSDI, Unemployment, Welfare, etc.
• An itemization of monthly household expenses and debt.
• Amount of assets: Bank account balances - checking and savings, CD’s, stocks / bonds, etc.  

Once we’ve learned your situation, our staff will guide you through the preparation and submittal of any additional documentation that may be required to formally complete your financial assessment. Please note: If you ever receive a call or a letter from us about your past-due mortgage, the best thing to do is immediately take the call or respond to the letter in order to focus on resolving the problem. We will always attempt to work with you, but we will need your cooperation to do so.

The Department of Housing and Urban Development offers counseling for homeowners whose mortgage loans have become delinquent. This counseling could help you avoid foreclosure and you are urged to seek it. To find a homeownership counseling agency near you, please call 800-569-4287 or visit the following HUD Web site:  http://portal.hud.gov/hudportal/HUD?src=/topics/avoiding_foreclosure

Please be advised, AmeriNational is attempting to collect a debt and any information obtained will be used for that purpose.