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Important Information for Habitat Homeowners

Paying Your Mortgage On Time
It is important that you make your mortgage payment on time each month. Making timely payments helps you build a great credit score. Otsego-Antrim Habitat also depends on your monthly mortgage payment to continue investing in homes to build up Otsego and Antrim communities and families. By paying your mortgage on time, you’re helping other families build a better life! You can pay your mortgage by check or credit card during office hours, 9:00 am to 5:00 pm by calling Affiliate Mortgage Services at 1-517-481-2714 or 1-800-467-5430.

Difficulty Paying Your Mortgage?
Let us know as soon as possible if you are having trouble making your mortgage payment on time.
There are a number of programs to assist homeowners who are at risk of foreclosure and otherwise struggling with their monthly mortgage payments. 

There are a number of programs available to assist homeowners who are having difficulty making their mortgage loan payments, or at risk of foreclosure. As your mortgage loan holder and servicer, we will work with you in an effort to make your mortgage payment affordable. Now is the time to act. We are ready to help you. 

Here’s how it works: We will first determine if you are eligible for assistance based on your situation. If you are eligible, we will look at your monthly income and housing costs, including any past due payments, and then determine a new affordable mortgage payment in order for you to get you current with payment. 

At first, you will make new, affordable monthly payments on your mortgage loan during a trial period. If you make those payments successfully and fulfill all trial period conditions, we will consider permanently modifying your mortgage loan.

The modification may involve some or all of the following changes to your mortgage loan: 1) Bringing your account current; 2) Extending the term of the loan, and/or; 3) delaying your repayment of a portion of the mortgage principal until the end of the loan term.

To take advantage of this opportunity and the Home Affordable Modification program, contact us as soon as possible. To help speed the process it will be helpful if you have the following information when you call:
• Monthly pre-tax income of each borrower
• Information about any financial hardship you are suffering

If you do not qualify for a loan modification under this program, or do not want to stay in your home, we will work with you to explore other options available such as Deed in Lieu of Foreclosure. A Deed in Lieu of Foreclosure, often called a “Deed in Lieu” is a solution to help borrowers avoid foreclosure. If you are unable to afford your mortgage payments due to hardship, it allows you to voluntarily transfer ownership of your property to your lender to satisfy the total amount due on your first and second mortgage held by Habitat for Humanity.

We partnered with you in building and financing your home. If you have experienced a hardship that has altered your income (temporarily or permanently) we want to help you stay in your home. We want to make modifying your mortgage loan as easy as possible. However, you must take the first step by contacting us at 1-800-467-5430. If you don't call or respond to our attempts in trying to reach you we can't work with you. 

Helpful Links About Foreclosure:
http://www.fdic.gov/consumers/loans/prevention/toolkit.html
http://www.makinghomeaffordable.gov/pages/default.aspx