Financial Hardship: Steps to Help Avoid Foreclosure
Del Toro Loan Servicing is not a counseling agency and does not charge upfront fees to negotiate modifications or forbearances. We are a liaison between you and your lender. We collect information from you and provide it to your lender. Your Lender will review this data and work with you, through us, to see if a foreclosure alternative is possible.
If you cannot make your monthly payments, refinance or sell your property in a timely manner, you may be able to seek relief by way of:
- A Loan Extension or Modification
- A change in terms such as maturity, interest rate or payment amount
- A Forbearance Agreement
- An agreement to postpone the sale of a defaulted property as long as the newly negotiated terms are adhered to
- A Deed in Lieu of Foreclosure
- The mutual agreement to turn the property over to the lenders for debt forgiveness
- A reduced payoff / short sale
- Allow you to sell the property for less than what you owe, also known as a “short sale”
Call our loan servicing department 877-335-8676 to discuss your options. If you choose to apply for a loan modification or forbearance, we will need the “Modification Request” & “Financial Spreadsheet” (links on this page) completed and faxed to our office.
You may also contact a HUD Certified Housing Counseling Agency at 800-569-4287 to seek assistance.