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Foreclosure Prevention
 
 
If you have experienced a financial hardship that prevents you from making your payments, you might qualify for certain alternatives such as a repayment plan, a modification of the loan term, a preforeclosure sale, or a deed-in-lieu of foreclosure. A preforeclosure 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. Please contact us at 800-876-5566 to discuss your situation and explore these options.

At the time you contact us, please be prepared to discuss your monthly income and expenses by having the following information available:

  1. Completed Borrower Financial Statement (attached below)
  2. A breakdown of your monthly expenses, e.g., car payment, utilities, etc.
  3. Copy of the most recent pay stub(s) with year-to-date earnings for all liable parties
  4. Copy of the most recent bank statement(s)
If you need help understanding the Making Home Affordable program (HAMP), or if your loan is owned by Fannie Mae or Freddie Mac and you need help understanding their available foreclosure prevention alterative options please contact us at 1-800-876-5566 ext. 1660 (Monday through Friday 8:30 a.m. – 4:30 p.m. CST) or FBM.LossMitigation@fbol.com or fax # 1-314-264-0222.

If your loan is owned by Fannie Mae or Freddie Mac and you have a complaint or dispute or you disagree with the decision of our evaluation of your foreclosure prevention alternative application, please contact us at 1-800-876-5566 ext. 1660 (Monday through Friday 8:30 a.m. – 4:30 p.m. CST) or FBMHamp@fbol.com or fax # 1-877-513-0979.

General inquires pertaining to the status of an evaluation or the content of an evaluation notice where First Bank Mortgage is in compliance with Fannie Mae or Freddie Mac requirements is not considered an escalated case. If your complaint or dispute is considered an escalated case, the following response timelines apply:

Additional counseling resources are available through Housing and Urban Development (HUD) by calling 800-569-4287 or by searching online. Additional online resources available through HUD are "Tips for Avoiding Foreclosure" and a brochure on "How to Avoid Foreclosure".

Home Affordable Foreclosure Alternative Program - HAFA Matrix

All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification Program (HAMP) must consider eligible borrowers who do not qualify for HAMP for other foreclosure prevention options including Home Affordable Foreclosure Alternatives (HAFA) which includes short sale and deed-in-lieu. However, each servicer has some discretion in determining additional eligibility criteria and certain program rules. In order to assist borrowers and their representatives in understanding any unique components of a servicer’s HAFA Policy, Treasury, has developed this HAFA Matrix. Below is the First Bank Mortgage HAFA MATRIX. The summary information in this matrix is prepared solely by First Bank Mortgage and does not represent any determination by the Treasury as to the servicer's compliance with the Treasury's policies and guidance for HAFA. Treasury does not endorse any language or policy described in this matrix. Any questions regarding the information contained in this matrix should be directed solely to First Bank Mortgage HAFA Department at FBM.LossMitigation@fbol.com or by phone at 800-876-5566 ext. 3110 Monday through Friday 8:30 a.m. – 4:30 p.m. CST.

       HAFA Matrix
          
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