Servicer Contact Options
Existing FHA, VA or USDA Loans
Mailing Address: Flagstar Bank
Loss Mitigation Department W-110-2
5151 Corporate Drive, Troy, MI 48098
Website: Visit Flagstar Bank
All Other Existing Loans
Mailing Address: Arc Home c/o LoanCare Attention:
Loss Mitigation Department
3637 Sentara Way
Virginia Beach, VA 23452
Website: Visit Arc Home
Mailing Address: 2010 Corporate Ridge, Suite 750
McLean, VA 22102
From Servicer Website
Home Retention Options
The goal of home retention is for you to avoid foreclosure and keep your home. There are several options that may be available to you to prevent foreclosure. The options available to you depends upon your individual circumstances and the requirements of your loan investor.
Below are some of the options that may be available to you depending on your loan investor and individual circumstances:
A forbearance plan may be an appropriate option for you if you are experiencing a current, short-term financial hardship. This hardship may be due to loss of income resulting from unemployment, illness, or natural disaster. A forbearance plan will allow you to reduce or suspend your mortgage payment for a set period of time.
If you have experienced a financial hardship that impacts your ability to presently (or in the future) pay your loan, due to a change in your financial circumstances, then a modification may be appropriate for you. Options include a possible rate reduction, an extension of the term of your loan, or even a principal deferment to reduce your total monthly payment to an affordable payment so that you can remain in your home.
Short Sale is intended for individuals who wish to sell their property quickly in order to repay indebtedness. If you are already pursuing loss mitigation options, contact your Case Manager at the appropriate subservicer to discuss this process.
Deed in Lieu of Foreclosure
Deed-in-Lieu is intended for individuals who do not wish to retain their home. Deed-in-Lieu consists of turning the property over to the investor, eliminating the need for foreclosure action. If you are already pursuing your loss mitigation options, contact your Case Manager at the appropriate subservicer to discuss this process.
If you have forbearance questions and would like to speak to a certified housing counselor, please call the Hope Hotline at 995Hope.org
Please ask questions or report your experience with this servicer below. Your feedback will help other homeowners navigate homeownership preservation options. REMEMBER: Ask for everything in writing to protect yourself against surprises.
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