mortgage loans - loss Mitigation
Don't Pay for the High Cost of Living with Your Home

Franklin Bank understands that in the current economy, nobody is immune to financial difficulties. If you are facing foreclosure or are concerned that your home and your credit may be in jeopardy, we want you to know you are not alone!

We can provide you with several options and support to help you if you have fallen behind in your mortgage payments or are worried about making your next one:

	Repayment Plan: Did you fall behind in your payments but now have the finances to catch back up? Our repayment plan will allow you to pay off a portion of your past due balance when you make your regularly scheduled mortgage payment over a period of months, if permitted by applicable law.* The repayment schedule will be based on financial information you provide and may require a deposit toward the past due amount.
	Loan Modification: Has your income decreased or have your expenses increased? You may be able to modify your loan, usually by adding your delinquent payments to your loan balance and re-amortizing the loan. You may also be able to readjust the interest rate and term of your loan to make the payments more affordable.
	Short Sale: Is selling your home an option? Even if the current market value of your home is less than your loan balance, you may be able to sell your property to an investor. To avoid foreclosure, the investor may accept less than the total amount, and we may request that you make a contribution to offset the total loss, if permitted by applicable law.* You will also be required to list your home at fair market value and notify us of all offers. Acceptance of any offer will be subject to investor approval.
	Deed in Lieu of Foreclosure (DIL): If all other options have failed, you may be allowed to sign the title to your property over to us. You must have clear title to the property with the exception of the first lien.

If one of these options fits your need, download, read and complete all the forms below and fax to 800.811.2454 or call 877.398.8911.

Help Letter (96 KB, PDF, 2 pages)
Financial Statement Form (90 KB, PDF)
Hardship Letter (39 KB, PDF)
Borrower Authorization Form (54 KB, PDF)
Second Lien Authorization Form (34 KB, PDF)

Get Adobe Reader

Contact our Loss Mitigation Department for more information or if you have any questions or concerns.

*Not available for home equity loans.

All loans are subject to credit and underwriting approval.