What options are available if I am facing financial hardship?

If you are facing financial hardship, Specialized Loan Servicing, LLC offers various options to assist you. These options include loan modifications, repayment plans, forbearance agreements, short sales, and deed-in-lieu of foreclosure. Loan modifications involve altering the terms of your loan to make it more affordable, such as reducing your interest rate or extending the repayment period. Repayment plans allow you to catch up on missed payments by spreading them out over an extended period. Forbearance agreements provide temporary relief, allowing you to temporarily reduce or suspend payments. Short sales involve selling the property for less than the outstanding loan balance, with the lender's approval. Deed-in-lieu of foreclosure allows you to transfer the property's ownership to the lender to avoid foreclosure. Specialized Loan Servicing, LLC considers individual circumstances to determine the most suitable option for each client's financial hardship.