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Do You Need Help with Your
Home Equity Loan or Mortgage Loan?



Getting Help

If you fall behind on your home mortgage or equity loan payments, there are resources that can help you.

A smart first step is to contact us at 800-797-6324. (Ask for the Collections Dept.)

Below you’ll find other options for advice and assistance, as well as some words of warning:

Who to trust: Credit Counseling

Mechanics Bank can be your starting point for credit counseling—we’re here to help, so first call us toll-free 800-797-6324. (Ask for the Collections Dept.)

You can access the Department of Housing and Urban Development’s (HUD’s) voice response system for a list of approved credit counseling agencies at 800-569-4287.

The following sources may also offer guidance and support:

Note: When you click on any of these links you will be leaving Mechanics Bank Web site. Please refer to the Terms of User and Privacy Policy for this outside Web site. Mechanics Bank is not responsible for the quality, delivery or timeliness of goods or services of outside Web sites. This is not a complete list of housing counselors. Others may be available in your area or via the internet.

Who not to trust: Foreclosure scams

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.

Remember: Call Mechanics Bank first—we offer real options for resolving your home loan issues.

Beware of these typical scams:

  • You surrender the title to your house to the scammer, who promises to let you rent the house and buy it back in the future.
  • You think you're signing documents to bring your home loan current, but you're really signing away the title to your home, leaving you with a mortgage, but no home.
  • You think you're getting a loan to bring your loan current and pay the past due amount, but you’re really selling your home for that amount. The scammer quickly sells it for a large profit, leaving you with a mortgage, but no home.
  • You pay the scammer a fee to take care of everything for you, but they don't.

To help avoid foreclosure and stop foreclosure "rescue" scams, the FDIC's foreclosure prevention initiative includes outreach, a referral service and an information tool kit. The tool kit is available at http://www.fdic.gov/foreclosureprevention and features:

  • Is Foreclosure Knocking at Your Door? brochure, which encourages consumers facing financing difficulties to contact their servicer, apply for a loan modification, and talk to a counselor. The brochure is available electronically and in print.
  • Beware of Foreclosure Rescue Scams brochure, which provides consumers information on common scams, tips on detecting a fraudulent deal, and legitimate resources for help and to report criminal activity. The brochure is available electronically and in print.
  • FDIC Consumer News, Spring 2009 edition, which offers tips and advice to consumers on avoiding foreclosure with a loan modification and preventing foreclosure "rescue" scams.
  • Your Own Home module of the FDIC's Money Smart curriculum, which includes information on foreclosure "rescue" scams and directs consumers to legitimate sources for foreclosure prevention help.

See Also: Understanding Your Options