MODIFICATION
This program adds the delinquent interest, taxes and insurance payments to the unpaid balance. If you qualify, you may be able to get help by extending the repayment of the past due amounts over the remaining term of your loan.

GOVERNMENT LOANS 
Provided you can make your monthly payments now, this plan is designed to place a lien on your property for the delinquent amount. This is basically a non-interest bearing loan with no monthly payments and is payable directly to the federal government only after you payoff the first mortgage, sell your home, refinance or move.

ADVANCE
A monetary advance to cure a delinquent mortgage. Similar to Goverment advances above.

SPECIAL FORBEARANCE
This program designed by the federal government, will provide you with more relief than you can get through the mortgage company. Typical approval can result in allowing for a 12, 18 or even 36 month repayment term or suspension of mortgage payments for a period of time while you become stable again.

RE-SET MODIFICATION / SHORT REFI
If your loan amount is more than the value of your property due to depreciation for reasons beyond your control.  It may be available in some cases that the principal can be reduced.  This option can generally results in lower monthly payments and a lower interest rate. You do not have to be delinquent; only that it has been determined that default is reasonably foreseeable. 

TEMPORARY RATE REDUCTION
May be available to you, when you have ongoing financial problems which are likely to be temporary in nature, but which preclude full payment of the mortgage for a foreseeable period of time.  Generally your counselor must have a feasible plan for increasing your income to make full payments at the expiration of the rate-reduction period.  Temporarily reducing the rate on your mortgage will lowers payments in the short term, to keep you from falling further behind.  This option is good, while waiting, for example, a recall from a lay-off or returning to work from an injury. 

VA MODIFICATION
If you have incurred a long-term financial hardship, the federal government has designed a special program to help VA backed mortgages. The delinquent amount is added to the principal balance and the loan is re-amortized. This generally results in lower monthly payments and a lower interest rate.

PRE-FORECLOSURE SALE
This option will allow you to sell your home and avoid a potential foreclosure along with the derogatory credit rating that is associated with this action. (This option is only if you do not want or can no longer afford your home.)

DEED-IN-LIEU OF FORECLOSURE
This is another foreclosure avoidance program that allows you to convey (transfer) your interest in the property to the lender, loan investor or the government. (Again, this option is only if you do not want or cannot afford the home.)

SHORT-SALE
This is another foreclosure aviodance program, were the sale of your house in which the proceeds fall short of what you still owe on the mortgage.  Your lender will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when you cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and you are able to pay off the loan for less than what is owed.