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We all face challenges, and working together we may be able to identify options to help you avoid foreclosure. If you are experiencing a financial hardship and are concerned you will be unable to meet the repayment terms of your home equity loan, home equity line or credit or mortgage loan, Mechanics Bank may be able to help.
Eligibility for foreclosure prevention alternatives is determined on a case-by-case basis depending on your current financial situation. It may be possible for us to offer one or more of the following alternatives to prevent the loss of your home through foreclosure. Options that may be available include:
Call us toll-free at 800.797.6324 and ask for the Collection/Special Asset Department. Please be prepared to discuss the following:
In order for us to determine the best possible way to assist you, we may request certain financial documents that may be applicable to your individual circumstances. This typically includes documents related to your income, expenses, hardship and the property.
The Department of Housing and Urban Development (HUD) offers homeownership counseling services that may help you avoid foreclosure. Call 800.569.4287 to locate at list of HUD approved credit counseling agencies near you. Additional information is made available by HUD on its website at www.hud.gov.
To help avoid foreclosure and stop foreclosure "rescue" scams, the Federal Deposit Insurance Corporation (FDIC) foreclosure prevention initiative includes outreach, a referral service and an information tool kit. The tool kit is available at www.fdic.gov.
Deals that seem too good to be true almost always are. Foreclosure scams promise to solve your financial problems with little cost or effort, but they may have a big cost in the end. Contact Mechanics Bank or an authorized HUD counselor to discuss real options that may be available to you to help you keep your home.
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