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Foreclosure Prevention

Options Exist to Help Avoid Foreclosure

If you are experiencing financial hardships and are worried that you cannot make your scheduled loan payments, please call Vanderbilt Mortgage and Finance, Inc. today at 1-800-970-7250 so that one of our experienced account representatives can review the options that are available to assist you.

Available options vary with the unique circumstances of each individual, but some of the different alternatives that exist include:

  • Repayment Plans
  • Extensions from 1-3 months
  • Debt management programs with independent, non-profit agencies
  • Modifications
  • Creating or increasing a balloon payment due at the maturity of your loan
  • Sell Your Home

Documents Needed to Discuss these Options:

To help determine if any of the available options will best be able to assist you personally, you will want to have various documents available during your discussion with Vanderbilt Mortgage. These documents include tax returns, recent pay stubs, bank statements, monthly bills, and if relevant, medical and other unanticipated bills.

HUD-Certified Counseling Agencies:

HUD is a U.S. government agency that offers free or low-cost counseling to homeowners in the US. Please call 1-800-569-4287 for a list of the HUD agencies in your area or visit their website at www.HUD.gov.

Equal Credit Opportunity Act (ECOA):

A federal law that prohibits lenders from unlawfully discriminating against consumers when applying for credit. Learn more about ECOA from the Consumer Financial Protection Bureau’s blog and how it protects borrowers.

Helpful Resources from the Consumer Financial Protection Bureau

Have Questions?

We’re Here to Help

Contact us

New customers 1-866-701-0467

Existing customers 1-800-970-7250