- Capital One Home >
- Home Loans >
- Home Loan Assistance
Trouble paying your mortgage?
We may be able to help!
Contact a Capital One Mortgage Servicing Professional
today at 1-877-230-8516 (8 a.m. - 11 p.m. ET, Monday through Thursday; 9 a.m. – 6 p.m. ET on Friday; or 9 a.m. – 1 p.m. ET on Saturday)
Life is not always predictable. Unexpected challenges such as reduction of income or increasing healthcare costs can make paying your mortgage payment more difficult.
At Capital One, we have a team of experienced Mortgage Servicing Professionals that are dedicated to assisting you. Our team is specially trained to help analyze your personal financial situation and determine which solutions you may qualify for and how we may be able to provide financial relief.
| Options to Keep Your Home | Options to Sell Your Home |
|
|
How to Request Assistance
Here are the steps we will take to determine if we can help, keep in mind that we review each on a case-by-case basis to see if there is anything we can do. While we are reviewing your situation, you should keep making your home loan payments.
Step 1: Contact one of our Mortgage Servicing Professionals at 1-877-230-8516.
Make sure you have the following information ready for us to review with you:
- Pay stubs dated within the last 30 days, covering at least a two month period
- W2/tax return or year-end business statement (if you are self employed)
- Personal bank statements from the last two months
- Year-to-date profit and loss statement, only if you are self employed
Step 2: If you are eligible for assistance, you will need to complete a checklist and supply us with any and all supporting documents.
- Once your Mortgage Servicing Specialist has determined that we can help, we can only move forward if you return all the docs we need as soon as possible.
- We will provide you with a checklist of the required documents and an application that need to be returned to us.
- Once we have all the completed documents mailed back to us, we can continue to see what we can do to assist you. We cannot create a solution with these documents and application.
Step 3: Your Loan Modification Trial Period begins.
If you are approved for a loan modification, you'll receive a letter explaining the terms of your trial period which will include the amount of your new mortgage payment and the next payment date. All of our loan modification programs require a trial period of 3 months. Making your mortgage payments during the trial period is essential, because it shows us that the new loan terms will work within your budget.
Step 4: We will finalize your New Loan Agreement.
If you successfully meet all the criteria and the documentation you provided supports our review, AND you were able to maintain your payments during your Trial Period, we will approve your request for your modification program. At that point, here is what will happen:
- We will mail you the required contractual documentation for the Final Modification Agreement.
- You will need to read, ask questions if you have any, then sign and return the Final Modification Agreement.
- Once we get the final documents, we will conduct one last review. If everything is in order, then your modification will be final. We will contact you either way with our decision, but you can always call us as well at 1-877-230-8516.
Don't wait until it is too late!
Foreclosure Consequences:
If your home is foreclosed, you lose your home and all the money you have invested in it. In addition, the foreclosure goes on your credit bureau record and may affect your ability to obtain another mortgage in the future.
A foreclosure, short-sale or a deed-in-lieu of a foreclosure also could have adverse tax consequences for you. Consult your tax advisor for details.
Contact a Capital One Mortgage Servicing Professional
today at 1-877-230-8516 (8 a.m. - 11 p.m. ET, Monday through Thursday; 9 a.m. – 6 p.m. ET on Friday; or 9 a.m. – 1 p.m. ET on Saturday)
http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm.
In addition to HUD counseling, several states offer unique counseling or financial assistance programs. Please check with the state in which you live to see if such programs are offered.
