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Are you having difficulty paying your mortgage? Maybe you bought a home and your payment is about to increase, or you lost your job or some other misfortune is making it difficult for you to pay your mortgage each month. If you’ve fallen behind, the single most important step you can take is to contact us and ask for help. Don’t ignore the problem. The earlier you contact us, the more likely you will get the help you need. As you fall further behind, there will be fewer options available to keep you and your family in your home.

We treat homeowners just like you with patience and respect, listening to your concerns while using our extensive experience to find the best available solutions to your financial difficulties.

As experts at foreclosure prevention, our mission is to help homeowners who:

· Currently reside in their mortgaged property as their primary residence

· Have suffered a hardship resulting in an inability to pay their mortgage

· Have an adjustable rate mortgage and their monthly payment is now more than they can afford to pay

· Have a shortage in their escrow account (property taxes and insurance) that resulted in an increase in monthly payments

Our years of experience helping others, helps us succeed; and we are truly committed to finding ways for you to remain in your home. Knowing your options can help you keep your home.

If you have missed payment due to a temporary reduction in income or unexpected increase in expenses but you expect to recover fairly quickly, there are three types of Special Relief Measures designed to help families avoid foreclosure by getting caught up quickly or having extra time to sell your home.

· In a Temporary Indulgence, you are given a thirty day grace period in which to pay back all missed payments at once. This option may be appropriate if you are in the process of selling a home, expecting an insurance or lawsuit settlement, or otherwise expecting a large amount of money in a short period of time. You would also be responsible to pay legal fees that may have been incurred if the foreclosure process is begun.

· If you can’t reinstate all at once, you can ask for a Repayment Plan. A repayment plan lets you divide up the reinstatement amount over several months. You pay the agreed amount in addition to your regular monthly payment. This means your payment goes up during the time you are on a repayment plan. We can work together to customize a payment plan that will fit your budget and bring your account current by the end of the plan.

· If you can't afford to pay more than your regular payment, you can ask for a Forbearance Plan. A Forbearance Plan involves a written agreement to reduce or suspend payments for a period of time. Once the forbearance period has ended, regular payments and a portion of the arrears are made until your loan is no longer delinquent.

When a short term plan is unlikely to stop foreclosure or allow you to sell your home quickly, a Loss Mitigation Solution should be considered. Loss mitigation solutions are:

· Modifications are an option for borrowers whose financial situation appears to be longer term or permanent. Through loan modification, there are changes to the terms of the loan to make it more affordable, usually by lowering the interest rate, or extending the term of the loan, or both. The goal is to lower the monthly payment to be more in line with your ability to pay. Unfortunately, not all loan modifications result in lower payments. In fact, according to the Office of Thrift Supervision, less than half of all mortgage loan modifications last year resulted in a reduced payment. Sometimes the missed payments are added to the existing balance of the loan, and then the monthly payment is recalculated from the new larger balance. This has the effect of raising rather than lowering the payment. If an introductory “teaser” rate is about to expire, the modification of an adjustable rate loan to a higher rate that can result in a payment higher than you were paying. Bottom line, when you modify a loan, the goal is to bring the loan current providing you the opportunity to begin repayment of your mortgage without the burden of delinquency with a payment that will be more in line with your ability to pay.

· A mortgage Assumption allows another party to take title to the property and take over the mortgage. To qualify for an assumption, the property's value is equal to or greater than the amount owed on the loan, plus interest, plus costs to sell. If the property value is less than the amount required, the party assuming the mortgage may be able to make a cash contribution to qualify. Assumption is not allowed if there are other mortgages on the property, unless these are paid off.

· If you are not too delinquent or your house is worth more than your total mortgage debt, you may be able to Refinance or get a new mortgage to pay off your old mortgage. If the home’s market value is less than the total amount owed, we may be able to work closely with you and the realtor to approve a Pre-Foreclosure Short Sale to help you sell your home to avoid foreclosure.

· You may transfer title to us through a Deed in Lieu of Foreclosure. If your property has been on the market for at least three months or there are other reasons such as legal issues surrounding the foreclosure or the deed in lieu will allow us to get title more quickly than foreclosure. The property must not have anyone living in it, and there can be no junior liens or judgments at the time of the deed in lieu.

Call us as soon as you become aware that you will not be able to make your mortgage payment, whether you have already missed a payment, or are still current but can see trouble ahead. Be completely honest, patient and polite. You can help yourself by remaining courteous and by having the following information handy before you call:

· Loan documents to include type of mortgage

· Loan account number

· Recent proof of income (such as pay stubs)

· Benefit statements (such as public assistance, Social Security, Unemployment, pension)

· Tax statements for past two years

· List of household expenses

Be prepared to answer questions like, why you missed your mortgage payments, how you expect to stay financially sound in the short and long term, and how you have tried on your own to resolve the problem. Let us know you are serious about keeping your home; that you intend to reduce your spending, that you are willing to take on a second job or sell a second car, or take other steps that will help you reduce your expenses. We will be evaluating your willingness to demonstrate you will do everything within your power to keep your home.

Thank you for your interest in our Home Preservation Program. By expressing your interest to work with us, you have taken the first step in resolving your current situation. We will request documents from you to assist us in evaluating your financial information to offer you the best workout option(s).

The laws of some states require us to inform you that this communication is an attempt to collect a debt and any information obtained will be used for that purpose.

A Division of Reverse Mortgage Solutions, Inc.