1. What is the REST Report?
The REST Report is a 12-page Report that’s generated using specific information about you, your property and your mortgage. It runs proprietary algorithms and NPV analytics to determine whether it is in the best financial interest of your investor to modify your loan.
2. How can I use my REST Report?
Homeowners can send a copy of their REST Report to their lenders or servicers, along with the required supporting documentation, when they apply for a loan modification.
3. What do I do if my lender denies my HAMP modification, though my Report shows I’m qualified?
The first thing you should do if your lender refuses to grant your loan modification when your Report shows that you are qualified for HAMP is contact your lender and make sure the data input numbers they’re using in their analysis match up with the numbers you submitted and are shown in your Report. You should also make sure the bank hasn’t scheduled a sale date in the near future.
Mistakes happen often, and if there’s a discrepancy that can be corrected, your lender will re-run the numbers and you should qualify.
If the numbers the lender is using do match up with the numbers shown in your REST Report, ask the lender to explain to you where its analysis differs from the one shown in your Report. If the person you’re speaking to won’t tell you why you’ve failed to qualify, speak with their supervisor. Ask that person to explain why the bank is saying you’re not qualified, and tell him or her that you plan to escalate the matter as far up the chain as necessary, including reporting the lender or servicer to Freddie Mac if necessary.
There have been cases where banks have simply refused to adhere to the rules set forth by the HAMP guidelines for servicers which were published by the U.S. Treasury.
If your bank refuses to grant your loan modification even though your REST Report shows you as qualified, and it refuses to consider you for any in-house modification program, you may want to bring your concerns directly to the government at You should consult an attorney. You may also wish to complain to Freddie Mac, which is responsible for monitoring HAMP compliance. Go to: [Borrower Outreach@freddiemac.com or https://www.hmpadmin.com/portal/resources/escalation.html
You may also wish to consult an attorney to assist you in the negotiations with your bank.
Make sure that you or your attorney checks with your bank to see if a sale date has been set, and if so, make sure you or he or she notifies the bank that there is a dispute and that you are therefore still in the process of applying for a HAMP loan modification. Banks are not permitted to foreclose while a homeowner is being considered for HAMP.
4. What if my REST Report shows I don’t qualify for HAMP?
If you are not qualified for a HAMP loan modification, the REST Report tells you why you’re not qualified.
It then determines whether some in-house modification may be in the financial best interest of the investor who owns the loan, and proposes some alternative terms helpful when applying for an in-house modification program. In-house loan modification programs are offered by most, but not all HAMP participating lenders and servicers, and more in-house modifications have been granted than HAMP mods.

Your REST Report can be invaluable when applying for a lender’s in-house program because your Report will also show the Net Present Value (“NPV”) to your lender, of several alternative loan workout options. You may choose to hire a lawyer or other third party to help you obtain such an in-house loan modification.
5. Does the REST Report guarantee that I will be approved for a HAMP loan modification by my lender or servicer?
No. No one can guarantee that a bank will agree to modify a loan, or do anything else for that matter.

But… submitting a REST Report showing you that you qualify for HAMP, along with your supporting documents, when applying for a loan modification improves your chances of being approved under HAMP, because the REST platform is a version of the same type of software platform used my major banks and servicers to determine HAMP eligibility.

And, when you have a REST Report, you have something that can help you push back, should your bank still refuse to modify your loan. Without it, it’s worth pointing out, you are essentially unarmed.
6. I’ve already applied for a HAMP loan modification and am still waiting to hear whether I’ve been approved for a permanent modification. Should I still consider ordering the REST Report? How will it help me?
Homeowners already in a trial modification, but still waiting to hear if they have been approved for a permanent modification under HAMP, benefit from running their REST Report because with their Report, they have a much better idea of where they stand before hearing whether or not they have been declined for some undisclosed reason.

Once a bank denies you for a loan modification, it can move to sell your house quickly, and sometimes that means a matter of days. But knowing that you don’t qualify earlier in the process allows you to talk with your bank about alternatives to the HAMP program for which you may be eligible as well as make sure your family is not forced to leave their home quickly because it has been sold on just a few days’ notice.
Should no modification program be available to you for whatever reason, the REST platform may also qualify you for short sale. The government’s latest short sale incentive program for lenders and servicers is known by the acronym “HAFA”.

7. What is the “NPV Test,” as related to HAMP loan modifications?
As stated in the HAMP Guidelines:
A standard NPV Test will be required on each loan that is in Imminent Default or is at least 60 days delinquent under the MBA delinquency calculation. This NPV Test will compare the net present value (“NPV”) of cash flows expected from a modification to the net present value of cash flows expected in the absence of modification. If the NPV of the modification scenario is greater, the NPV result is deemed positive.

If the NPV Test generates a positive result when applying the Standard Waterfall (See the “Eligibility” tab on the Home Page for more information on the Waterfall), the servicer is required to offer a Home Affordable Modification to the borrower.

If the NPV Test generates a negative result, modification is optional, unless prohibited under contract.

The U.S. Treasury Department’s most recent HAMP NPV Model (V 3.1) is currently only available to participating HAMP servicers. For this reason the model used by the REST Report, has certain variations. Although the REST Report is a proprietary model, based on version 3.0 and the input provided by the borrower, the loan modification terms proposed in the REST Report should fall within the allowable tolerances of the HAMP eligibility guidelines.

8. How do I know my bank will pay attention to the REST Report, as far as my being qualified for HAMP is concerned?
When you apply for a loan modification without the REST Report, assuming you meet the basic eligibility requirements and pass the Standard Waterfall test, lenders and servicers enter the information you’ve provided into a spreadsheet or a software platform in order to run the NPV test, which is what establishes whether the borrower is eligible for HAMP..

If the NPV test is positive, the lender is supposed to offer the homeowner a loan modification.

When you submit your REST Report, your lender will do the same thing it always does – analyze your situation for eligibility under HAMP. If the NPV is positive, and you meet all the other requirements, the lender should grant a HAMP modification.
9. How do I use the REST Report in a mediation proceeding with my lender?
Some states now offer mediation programs to homeowners who are in default or at risk of foreclosure. The job of the mediator is to bring the parties together to explore options in an attempt to avoid foreclosure if possible.

The problem is that without the homeowner bringing to the negotiating table what is contained in the REST Report, mediators have little to, well… mediate. In simple terms, if all the homeowner has to help make his or her case are paycheck stubs and a tax return, the mediator is really dependant on the lender’s representations about what alternative strategies to foreclosure are available..

Because the REST Report shows the Net Present Value to your lender of various alternatives, it gives the mediator a lot more to discuss or the basis to challenge what the lender is or isn’t offering.
10. Are the modified payment terms of the HAMP modification shown in my Report accurate?
Yes they are. The modified payment terms that are shown in your REST Report are at least very close to the terms that will be offered by a permanent HAMP modification. Sometimes they are literally pennies away.
11. What are the eligibility requirements for the HAMP program?
For a comprehensive presentation and discussion of the HAMP eligibility requirements, please click on the “Eligibility” tab that appears in the dark blue horizontal navigation bar near the top of the home page.
12. Does everyone applying for a HAMP loan modification have to enter a “trial modification phase,” before being approved for a permanent modification?
Yes. There’s simply no way around it: if you apply for a HAMP loan modification, you’ll enter the trial modification phase for at least three months before finding out for sure whether you qualify for HAMP’s permanent loan modification.
13. Do I have to hire a lawyer or other third party to help me get my loan modified?
No, you do not have to hire anyone to help you get your loan modified.
Of course, that being said… it’s really up to you. Not everyone has the time, is as comfortable or is equally equipped to negotiate with a major financial institution over their mortgage when they are at risk of losing a home.
14. Is it true that the government is now requiring banks to grant principal reductions as part of the HAMP loan modification program?
The government recently announced that lenders and servicers that participate in HAMP will now be “encouraged” to consider principal reductions, but it is too early to know how effective that encouragement will be. Principal reductions, while not unheard of, remain rare, with the government reporting that they make up approximately 10% of all HAMP modifications.
15. I recently heard that HAMP will now be offering some new assistance for unemployed borrowers. Is that true?
Yes, the government has recently announced that unemployed applicants to the HAMP loan modification program will be offered some additional help in the way of forbearances of payments for 90 day periods, in the hopes that they will find work in the time provided, but again, it is too early to know how this change to HAMP guidelines will manifest itself.
16. What is included in my monthly gross income?
A borrower’s Monthly Gross Income (MGI) is the amount before any payroll deductions and includes wages and salaries, overtime pay, commissions, fees, tips, bonuses, housing allowances, other compensation for personal services, Social Security payments, including Social Security received by adults on behalf of minors or by minors intended for their own support, annuities, insurance policies, retirement funds, pensions, disability or death benefits, unemployment benefits, rental income and any other income.
17. Will I need to verify my income before being granted a trial or permanent loan modification?
Yes. If you qualify for HAMP, the lender/servicer will verify your income in a number of ways.

The borrower’s income will be verified by requiring a signed Form 4506-T (Request for Transcript of Tax Return) and obtaining the most recent tax return on file for each borrower on the note. For wage earners, the two most recent pay stubs for each wage earner on the note will also be required.
For self-employed borrowers or for non-wage income borrowers, the borrower’s income will be verified by obtaining other third-party documents that provide reasonably reliable evidence of income. Borrowers must also represent and warrant that they do not have sufficient liquid assets to make their monthly mortgage payments.
18. What if I don’t want to accept the modified payment terms offered to me by the HAMP loan modification?
You are not required to accept modified payment terms offered by any lender/servicer. There is no question that, with some real estate values still declining, depending on the terms of the existing mortgage, and the homeowner’s income, some borrowers have declined to accept the terms of a proposed loan modification, preferring instead to move towards a short sale or even a deed-in-lieu of foreclosure.
And that’s one of the key advantages to running the REST Report… you’ll know what the modified payment terms will look like for various modification alternatives. You may not always like the answer, but we think you’ll agree that knowing is always better than not knowing.
19. My credit score has gone down significantly in the last couple of years. Does that mean I won’t get approved for a loan modification under HAMP?
No. Although the NPV formula does require your credit score, a low score by itself does not make you ineligible for HAMP.
20. What if I’ve filed bankruptcy or am in the process of filing bankruptcy? How does bankruptcy affect my obtaining for a HAMP loan modification?
If you are in default on your loan and thinking about filing a bankruptcy, be sure to consult an attorney about whether it is better to go forward with one or other first. Normally lenders will not consider a modification while a bankruptcy proceeding is pending, but that does not mean you are disqualified from getting a modification after you are discharged from bankruptcy. The problem is that while a bankruptcy is pending, the bank may continue foreclosure proceedings. You must take expert advice before taking, or not taking, any course of action.
21. My home is seriously “under water”. Can I still qualify for a HAMP loan modification?
Yes. Owing more than your home’s current appraised value, referred to as being “under water,” does not disqualify you for a HAMP loan modification.
22. What are the alternatives to foreclosure that homeowners should know about?
If you don’t qualify for a HAMP loan modification, here are some of the foreclosure options that may be available to you:

Loan Workout
A loan workout can include a forbearance, loan modification, short sale, short pay-off, deed in lieu of foreclosure, or any other material change in the terms of the contract whereby the lender accepts less than it expected under the terms of the original contract as full satisfaction of the obligations of the borrower.

We DO NOT recommend waiting until you’ve missed payments to begin working with your lender. The earlier you take action, the better the chances are that you’ll be able to negotiate a successful loan resolution. That said… some lenders have simply refused to negotiate with borrowers until their loans are delinquent by one or two months.

If your lender tells you that they will not talk with you about a loan modification until you have missed payments, be sure to document who at your lender has told you that, and on what date the conversation occurred.

A) Loan Modification
The term “loan modification” means a modification of the note such that the monthly payment is modified. A lower monthly payment can result from lowering or deferring the principal, lowering the interest rate, extending the term of the loan, or forgiving late fees or penalties. In most cases the interest rate and corresponding payment will go down for a period of five to 40 years.

If you have a large arrearage (a term referring to missed payments and late fees), however, your monthly payment may actually go up under the terms of a loan modification. This is because, despite a lower interest rate, your principal has gone up by the amount of your arrearage. If the arrearage is extreme, is may cause a sizable payment jump if re-amortized over the remaining life of the loan.

B) Forbearance
A loan modification should not be confused with a forbearance plan. In a forbearance plan, the lender agrees to “forebear” or delay the immediate collection of principal, interest and penalty fees, but does not reduce them. The lender may allow the borrower to reduce or suspend payments for a short period of time after which another option must be agreed upon in order to bring the loan current.

Generally, in a forbearance plan, the lender does not waive delinquent payments and fees, but rather simply adds them to the existing loan balance.

Sometimes the lender will offer to allow the borrower to make a higher monthly payment until he or she “catches up”. This type of offer is rarely helpful to the homeowner, but may be the only option for a second chance should no other option be made available.

C) Short Pay-Off
A short pay-off occurs when the lender accepts less than the full amount owed as payment on the loan.

This occurs most often when the second mortgage is essentially unsecured due to a drop in the value of the home that secures the second loan. In such a case, it is important that the homeowner address the tax implications, since paying less than the face amount of the note is considered “debt relief”, which in some instances may be treated as income for tax purposes.

In addition, a short payoff may have serious negative consequences to the borrower’s credit rating. You should consult an attorney for answers to these questions.

D) Short Sale
A short sale occurs when the lender permits the borrower to sell the property for less than the balance of the mortgage owed. The offer to buy is presented to the lender, and the lender must then agree to accept the purchase price as payment for the loan.

It is important that the lender waive any right to a deficiency judgment (i.e. the right to collect the difference between the purchase price and the amount owed). The laws addressing these issues vary from state to state, so you should consult an attorney before proceeding with a short sale.

Make sure your lawyer makes you aware of any tax implications and deficiency actions that may result from a short sale.

E) Deed in Lieu
“Deed in Lieu” refers to the lender’s acceptance of the deed to the subject property “in lieu of” (instead of) foreclosing on that property. The lender is given the opportunity to take the property as payment in full for the loan.

A lender may consider this option, because it’s less expensive and time consuming than pursuing a foreclosure and eviction.

As with short pay-off and short sales, this arrangement may have tax and other legal consequences. The laws addressing these issues vary from state to state, and be sure that your lawyer makes you aware of any tax implications and deficiency actions that may result.

Reminder: The deed-in-lieu option is only available when there are no additional liens on the property.

1. Who is my “servicer?” Is my servicer the same as my lender or investor?
Your loan servicer is the financial institution that collects your monthly mortgage payments and has responsibility for the management and accounting of your loan. It is possible that the owner of your mortgage also services it, however many loans are owned by groups of investors and these investors hire loan servicers to interact with homeowners on their behalf. Many lenders also have the loan servicers handle all contact with homeowners.

Traditionally, banks used money deposited in customers’ savings accounts to make loans. They held the loans, earning the interest as homeowners repaid over time. Banks were thus limited in the number of loans they could make because they had to wait to make new ones until savings deposits grew or existing homeowners repaid their loans. Many families who wanted to own a home were unable to do so because there was not a steady supply of money for banks to lend.

Over time, banks started to turn loans into cash by pooling large groups of loans together to create mortgage backed securities that could be sold to investors such as pension funds and hedge funds. The investors get the right to collect future payments and the bank gets cash that it can use to make more loans. Investors hire loan servicers to collect payments and interact with customers.

If you have questions about your loan, or you are behind on your payments, you should call your loan servicer at the number on your payment coupon or monthly mortgage statement.

2. Is my servicer participating in HAMP?
All servicers for loans owned or guaranteed by Fannie Mae and Freddie Mac are required to participate. Additional servicers are strongly encouraged to participate. The list of servicer participants will be updated at www.MakingHomeAffordable.com/contact_servicer.html. (See “How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac?”)

3. What should I do if my servicer tells me that the investor is not participating in the Making Home Affordable Program?
Check to see if your servicer is listed on our servicer participant list at http://www.makinghomeaffordable.com/contact_servicer.html. Keep in mind that all servicers for loans owned or guaranteed by Fannie Mae and Freddie Mac are required to participate with respect to those loans. (See “How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac?”)

If your servicer is on our participant list, or your mortgage is owned or guaranteed by Freddie Mac or Fannie Mae, call your servicer back and ask to speak to a supervisor. You may also contact a HUD-approved housing counselor for assistance.

If your servicer is not participating in the Program, ask your servicer or a housing counselor about other options that may be available.

4. I’m current on my mortgage. Will a refinance under the Home Affordable Refinance Program (HARP) help me?
Eligible homeowners who are current on their mortgages but have been unable to take advantage of today’s lower interest rates because their homes have decreased in value, may now have the opportunity to refinance. Through a refinance under HARP, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they own or that they guaranteed in mortgage backed securities.

5. How do I know if I am eligible for a refinance under HARP?
You may be eligible if:
You are the owner-occupant of a one- to four-unit home.
The loan on your property is owned or guaranteed by Fannie Mae or Freddie Mac (See “How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac?”).
At the time you apply, you are current on your mortgage payments (“Current” generally means that you have not been more than 30 days late on your mortgage payment in the last 12 months; or, if you have had the loan for less than 12 months, you have never missed a payment).
The amount you owe on your first lien mortgage does not exceed 125% of the current market value of your property.
You have a reasonable ability to pay the new mortgage payments.
The refinance improves the long term affordability or stability of your loan. (See “Will refinancing lower my payments? How might HARP benefit me?”)
6. Will refinancing lower my payments? How might HARP benefit me?
The objective of a refinance under HARP is to provide creditworthy homeowners who have shown a commitment to paying their mortgage the opportunity to get into a new mortgage with better terms.

Homeowners whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in their payments. Homeowners who are paying interest only, who have a low introductory rate that will increase in the future, or who face a balloon payment may not see their current payment go down if they refinance to a fixed rate and payment. These homeowners, however, could save a great deal of money by reducing the amount of interest you pay over the life of the loan.

Refinancing into a more stable fixed-rate loan product and avoiding future mortgage payment increases would likely improve your ability to sustain your mortgage payments over the long-term. When you submit a loan application, your lender will give you a “Good Faith Estimate” and a “Truth in Lending Statement” that includes your new interest rate, mortgage payment, and the amount that you will pay over the life of the loan. Compare this to your current loan terms. If it is not an improvement, a refinancing may not be right for you.
7. Will a refinance under HARP reduce the amount that I owe on my loan?
No. The objective of a refinance under HARP is to help homeowners get into more stable or more affordable loans. Refinancing will not reduce the principal amount you owe to the first lien mortgage holder or any other debt you owe. (See “How will I know if a refinance under HARP will improve the long-term affordability or stability of my loan?”)

8. How will I know if a refinance under HARP will improve the long-term affordability or stability of my loan?
When you submit a loan application, your lender will give you a “Good Faith Estimate” and a “Truth in Lending Statement”that includes your new interest rate, mortgage payment, and the amount that you will pay over the life of the loan. Compare this to your current loan terms. If it is not an improvement, a refinancing may not be right for you.

9. How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac?
Ask your mortgage lender or servicer. Also, both Fannie Mae and Freddie Mac have established toll-free telephone numbers and web submission processes to make this data available. Homeowners can enter information to determine if either agency owns or guaranteed the loan. This information is not a guarantee of eligibility for a refinance under HARP, as other qualifying criteria must also be met.

For Fannie Mae:
1-800-7FANNIE (8am to 8pm EST)
www.FannieMae.com/loanlookup

For Freddie Mac:
1-800-FREDDIE (8am to 8pm EST)
www.FreddieMac.com/mymortgage

10. I owe more than my property is worth. Do I still qualify for a refinance under HARP?
Eligible loans will include those where the first lien mortgage does not exceed 125% of the current market value of the property. For example, if your property is worth $200,000 but you owe $250,000 or less on your first lien mortgage you may qualify. The current market value of your property will be determined after you apply to refinance.

11. I have both a first lien and a second lien mortgage. Do I still qualify for a refinance under HARP?
As long as the amount due on the first lien mortgage is less than 125% of the value of the property, homeowners with more than one mortgage may be eligible for a refinance under HARP. Your eligibility will depend, in part, on two additional requirements:
The lender that has your junior lien mortgage must agree to remain in a junior lien position.
You must be able to demonstrate your ability to meet the new payment terms on the first lien mortgage.

12. What are the interest rate and other terms of a refinance under HARP?
The rate will be based on market rates in effect at the time of the refinance and the homeowner will be subject to any associated points and fees quoted by your lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans must have no prepayment penalties or balloon payments.

13. Can I get cash out of a HARP refinance to pay other debts?
No. The Home Affordable Refinance will not return cash to the borrower for the purpose of paying other debts.

14. How do I apply for a refinance under HARP?
Call your mortgage lender, or any lender approved to do business with Fannie Mae or Freddie Mac, and ask for a Home Affordable Refinance application. The number is on your monthly mortgage bill or coupon book. Please be patient yet persistent. Your lender could be handling a large volume of inquiries about the program and it may take some time before they are ready to process your application. In the meantime, it will help your lender and speed up the application process if you gather some information and documents before you call. It will help your lender if you gather some information and documents before you call. Generally, you will need the following:
Information about the monthly gross (before tax) income of all the homeowners on your loan, including recent pay stubs if you receive them, or documentation of income you receive from other sources
Your most recent income tax return
Information about any junior lien mortgage on the house
Account balances and minimum monthly payments due on all of your credit cards
Account balances and monthly payments on all your other debts such as student loans and car loans

15. I am delinquent on my mortgage. Will I qualify for a refinance under HARP?
No. Homeowners who are currently delinquent or have been more than 30 days overdue during the past 12 months generally will not qualify. Contact your servicer to see if a modification under the Home Affordable Modification Program is an option for you.

16. Will I need mortgage insurance on a HARP refinance?
If your existing loan has private mortgage insurance, you will need the same amount of insurance coverage for a refinance under HARP. If your existing loan does not have private mortgage insurance, it will not be required as part of a refinance under HARP.

17. How long will refinances under HARP be available?
The program expires on June 10, 2011. Your refinance under HARP must have a mortgage note date on or before that date.

18. Can I get a mortgage modification through the Home Affordable Modification Program (HAMP) if my loan is not owned or guaranteed by Fannie Mae or Freddie Mac?
Yes. HAMP helps homeowners who are struggling to keep their loans current or who are already behind on their mortgage payments. By providing mortgage loan servicers with financial incentives to modify existing first lien mortgages, the Treasury hopes to help homeowners avoid foreclosure regardless of who owns or guarantees the mortgage.

19. How do I know if I am eligible for a modification under the Home Affordable Modification Program (HAMP)?
To apply for a modification under HAMP, you must:
Be the owner-occupant of a one- to four-unit home.
Have an unpaid principal balance that is equal to or less than:
1 Unit: $729,750
2 Units: $934,200
3 Units: $1,129,250
4 Units: $1,403,400
Have a first lien mortgage that was originated on or before January 1, 2009.
Have a monthly mortgage payment (including taxes, insurance, and home owners association dues) greater than 31% of your monthly gross (pre-tax) income.
Have a mortgage payment that is not affordable due to a financial hardship that can be documented.
If you answered YES to all of these questions, you may be eligible for a modification under HAMP. Only your servicer will be able to tell you if you qualify.

20. What if I am facing foreclosure?
Participating servicers may not refer a loan for foreclosure sale or proceed with a foreclosure sale on an eligible loan until the homeowner has been evaluated for HAMP and, if eligible, a trial modification offer has been made. Participating servicers must use reasonable efforts to contact homeowners facing foreclosure to determine their eligibility, including in-person contacts at the servicer’s discretion. Foreclosure sales may not be conducted while the loan is being considered for a modification or during the trial period. Additionally, once a homeowner has entered into a trial period plan by submitting the first trial period payment, the servicer may not take the first legal action to initiate a new foreclosure.

21. I am unemployed. Can I still get a mortgage modification?
If you are unemployed, ask your servicer immediately for consideration through the Home Affordable Unemployment Program (UP). (See “Home Affordable Unemployment Program (UP)”) for eligibility criteria and for more information.
If you are currently in a HAMP trial period and just lost your job, you may request to be considered for UP as long as you entered the trial period plan before missing three full consecutive mortgage payments.
If you are unemployed and were previously determined ineligible for a HAMP modification, you may be eligible for UP.
If you are currently in a permanent HAMP modification and just lost your job, you will not be eligible for UP. You may still be eligible for other foreclosure alternatives, including the Home Affordable Foreclosure Alternatives (HAFA). Please contact your servicer right away for more information. (See “Home Affordable Foreclosure Alternatives Program (HAFA)”) While you are being evaluated for UP, servicers who have signed a HAMP Servicer Participation Agreement (SPA) are not permitted to refer you to foreclosure or conduct a foreclosure sale. Visit www.MakingHomeAffordable.com/contact_servicer.html to find out if your servicer is a program participant.

22. Do I need to be behind on my mortgage payments to be eligible for a modification under HAMP?
No. Responsible homeowners who are struggling to remain current on their mortgage payments are eligible if they reasonably believe they are very likely to default on their mortgage soon (often referred to by loan servicers as “imminent default”). This might be because a homeowner has had (or will have) a significant increase in the mortgage payment (due to a payment adjustment or rate adjustment upwards); unemployment or some other significant reduction in income; or some other financial hardship that will make the mortgage unaffordable. If you are facing a similar situation, contact your servicer. You will be required to document your income and expenses and provide evidence of the hardship or change in your circumstances

23. I have a junior lien mortgage. Am I still eligible for HAMP?
Yes, the first lien mortgage is eligible for a modification under HAMP. (See “Second Lien Modification Program (2MP)” for help with your 2nd lien.)

24. How do I know if my servicer is participating in HAMP? Are all servicers required to participate?
Participation in HAMP is mandatory for servicers of loans owned or guaranteed by Fannie Mae or Freddie Mac (Government Sponsored Enterprises or GSEs). Participation in HAMP is voluntary for servicers of non-GSE loans. However, substantial incentives are available to servicers and investors who complete modifications under HAMP, and most major servicers already have committed to the Program. A current list of participating servicers is available at www.MakingHomeAffordable.gov/contact_servicer.html. Servicers not currently listed have until December 31, 2009 to opt into the Program.

Servicers of non-GSE loans sign a contract with Fannie Mae, as Treasury’s financial agent, through which they agree to review every potentially eligible homeowner who asks to be considered for the Making Home Affordable Program. To ensure that a homeowner currently at risk of foreclosure has the opportunity to apply for a modification under HAMP, participating servicers may not proceed with a foreclosure sale until the homeowner has been evaluated for a HAMP modification and, if eligible, a trial modification offer has been made.

25. Why does my loan servicer have to ask the lender or investor if they can do a loan modification through HAMP?
If the organization that services your loan does not own it, your servicer may need to get permission from the owner or investor before they can change any of the terms of your loan. Generally, there is a contract between the servicer and the investor that states what kind of actions the servicer is allowed to take. Most of these contracts, usually called servicing agreements or pooling and servicing agreements (PSAs), give the servicer flexibility to make modification decisions as long as the modification provides a better financial outcome for the lender or investor than not modifying the loan.

26. What will my servicer do to determine if I qualify for HAMP?
Determine whether your loan meets the minimum eligibility criteria (i.e., owner- occupied; originated on or before January 1, 2009; unpaid principal balance equal to or less the loan limit for the number of units involved, mortgage payment greater than 31% of gross income; and financial hardship).
If your loan meets the minimum eligibility criteria, the servicer will ask about current income, assets and expenses, as well as any specific hardship circumstances to determine if you are unable to make your mortgage payment. Your servicer may initially accept verbal income and expense information; however, you will need to provide verifying documentation before a final modification is approved.
Determine if your monthly first lien mortgage payment is greater than 31% of your gross or pre-tax monthly income.
Apply a Net Present Value (NPV) test to determine whether the value of the loan to the investor will be greater if the loan is modified (factoring in the government’s incentive payments). If the modified loan is not of greater value, the investor and servicer may still modify the loan. However, modification in such cases is not required. Please note: Your servicer may re-run the NPV test before the modification becomes official if they receive new information that could affect your NPV score.
If the modified loan is of greater value, the servicer must offer you a modification under HAMP, and, if you accept the offer, will put you on a trial modification (typically three months) at the new payment level.
If you successfully make all of the required trial payments during the trial period and the income and expense information you provided is determined to be accurate, your servicer will execute an official modification agreement.
You will be required to sign the modification agreement and other documents and attest that all of the information you provided to your servicer was true and accurate. Misrepresenting any information required for the Home Affordable Modification is a violation of Federal law and has serious legal consequences.

27. Is the interest rate subject to change during the term of the HAMP modification?
If the modified rate is below the market rate as determined from the Freddie Mac Primary Mortgage Market Survey rate on the date the modification agreement is prepared, the modified rate will be fixed for a minimum of five years as specified in your modification agreement. Beginning in year six, the rate may increase no more than one percentage point per year until it reaches the market rate at the time the modification agreement is prepared. Your rate can never be higher than the market rate as indicated in your modification agreement. If the modified rate is at or above the market rate at the time the modification agreement is prepared, the modified rate is fixed for the life of the loan.

28. Will a modification under HAMP include property taxes and homeowners insurance?
Yes. All loans modified under HAMP must include an escrow account for payment of future property taxes and hazard insurance, unless prohibited by state law. If your existing loan does not include an escrow account, one will be established. A new escrow account may require collection of a sufficient reserve to pay the taxes and insurance on or before they are next due. The reserve amount cannot be added to the modified loan amount. The servicer may give you the option of paying the reserve amount at the time the loan is modified or the option of spreading the amount over a period of 60 months and including it in the monthly escrow payment.

29. If I don’t currently have an escrow account on my mortgage, am I still eligible for a modification under HAMP?
Yes, you are still eligible to apply for a modification under HAMP. Should you qualify for a modification and make all trial payments on time, your modification agreement with your servicer will require the servicer to set aside a portion of your new monthly payment in an escrow account for payment of your property taxes and insurance premiums.

30. If my mortgage qualifies for a modification under HAMP, will my escrow account payment change?
It might. Your escrow payment will adjust if your taxes and insurance premiums change, so the amount of your monthly payment that the servicer must place in escrow will also adjust as permitted by law.

31. What will the servicer do through HAMP to get my new modified payment down to 31% of my gross income?
Lower the interest rate. Treasury is providing incentives to your servicer to write the interest down to as low as 2%, if necessary to get to a payment that you can afford. Each homeowner’s interest rate will only be reduced to a point sufficient to get the modified payment to equal 31% of the homeowner’s gross monthly income. Not all homeowners will need a rate reduction to 2% in order to achieve a monthly mortgage payment that is affordable.
Extend the term. If a 2% interest rate does not result in a payment that is affordable (no more than 31% of your gross monthly income), your servicer will extend your payment term. At the servicer’s option, the term of the loan could be extended up to 40 years.
Forbear (defer) principal. If your payment is still not low enough, your servicer may defer a portion of the principal amount you owe until the maturity of the loan. This is called a principal forbearance. With a forbearance, you will still owe the principal; but repayment is deferred until a later date.
A portion of the principal could be also be forgiven. This is optional on the part of the servicer. There is no requirement for principal reduction or forgiveness, and there is no guarantee that your servicer will offer principal reduction or forgiveness.

32. I owe more than my house is worth. Will a modification under HAMP reduce what I owe?
The primary objective of the HAMP is to help homeowners avoid foreclosure by modifying troubled loans to achieve a payment the homeowner can afford. Servicers may, but are not required to, offer principal reductions. It is more likely that your servicer will use interest rate reductions and term extensions in order to make your payment more affordable.

33. What is a HAMP trial period?
The trial period is typically a three month period to see if the new payment plan will work for you, while providing you immediate relief and preventing any possible foreclosure sales from occurring. You should remember that during the trial, the terms and conditions of your original loan remain unchanged and only after you make all of your trial payments on time and send in all required documentation can your loan be officially modified.

34. Could my payment change in or after the HAMP trial period?
Your payment will be based on 31% of your verified income. Your monthly payment could increase if property taxes, homeowner’s insurance, or homeowner’s association fees increase after the trial period.

35. How will the HAMP modification affect my credit?
Accepting a loan modification can affect your credit score, but the actual effect will depend on a variety of factors. For more information about your credit score and how to improve it, visit www.ftc.gov/bcp/edu/pubs/consumer/credit/cre24.shtm.

Each month, servicers must describe to the credit reporting agencies the exact status of each mortgage. If you are current with your mortgage payments prior to the trial period and you make each trial period payment on time, your servicer must report you as current and also identify the loan as “modified under federal government plan.”

If you are delinquent (at least 30 days past the due date) prior to the trial period and the reduced payments do not bring the account current, your servicer must report the level of delinquency and also identify the loan as “modified under federal government plan.”

36. How will I know if my loan can be modified though HAMP?
Once your servicer confirms that you are eligible and you make all of your trial period payments on time, you will receive a modification agreement detailing the terms of the modified loan. Any difference between the amount of the trial period payments and your regular mortgage payment will be added to the balance of your loan along with any other past due amounts as permitted by your loan documents. While this will increase the total amount that you owe, it should not significantly change the amount of your modified mortgage payment as that is determined based on your total monthly gross income, not your loan balance.

37. Will the terms and conditions of the HAMP permanent modification remain fixed for the life of my loan?
Once your loan is modified, your interest rate and monthly principal and interest payment will be fixed for the life of your mortgage unless your initial modified interest rate is below current market interest rates.

If the servicer lowered your mortgage interest rate to make your payments more affordable, your initial modified interest rate could be below current market interest rates. In that case, the initial interest rate will be fixed for five years, and the amount you pay each month for principal and interest will not change for those five years or 60 months.

After five years, your interest rate will increase by 1% per year until it reaches the cap, which would equal the market interest rate being charged by mortgage lenders on the day your official modification agreement was prepared (the Freddie Mac Primary Mortgage Market Survey Rate for 30-year, fixed-rate conforming mortgages).

Once your interest rate reaches that cap, it will be fixed for the life of your loan. Like your trial period payment, your new monthly payment will also include an escrow for property taxes and hazard insurance. (See “Could my payment change in or after the trial period?”)

38. Could I end up with a balloon payment through HAMP?
Yes. If your servicer determines that a principal forbearance is required to get your monthly mortgage payment to an affordable level, the principal forbearance amount, say for example this was $20,000, would be subtracted from the amount used to calculate your monthly mortgage payment, but you would still owe the money. You would have a $20,000 balloon payment that accrues no interest and was not due until you pay off your loan, refinance or sell your house.

39. What happens if I am unable to make payments during the HAMP trial period?
Homeowners who are unable to make the required payments by the end of the trial period are not eligible for a permanent modification under HAMP. However, you may be eligible for other foreclosure prevention options offered by your servicer.

40. How much will a HAMP modification cost me?
Homeowners who qualify for a modification under HAMP will never be required to pay a modification fee or pay past-due late fees. If there are costs associated with the modification, such as payment of back taxes, your servicer will give you the option of adding them to the amount you owe on your mortgage or paying some or all of the expenses in advance. Paying these expenses in advance will reduce your new monthly payment and save interest costs over the life of your loan.

If you would like assistance from a HUD-approved housing counseling agency or are referred to a HUD-approved counselor as a condition of the modification, you will not be charged a counseling fee. Homeowners should beware of any organization that attempts to charge an upfront fee for housing counseling or modification of a delinquent loan, or any organization that claims to guarantee success.

41. Is housing counseling required for a modification under HAMP?
Homeowners, especially delinquent homeowners, are strongly encouraged to contact a HUD-approved housing counselor to help them understand all of their options and to create a workable budget plan. These services are free. Housing counseling is required, however, for homeowners whose total monthly debts are equal to or greater than 55% of their gross monthly income.

When you apply for a modification under HAMP, your servicer will analyze all of your recurring monthly expenses, including car loans, credit cards, child support, and what you will pay toward your mortgage. If the sum of all of these recurring monthly expenses is equal to or more than 55% of your gross monthly income, you must agree to participate in housing counseling provided by a HUD-approved housing counselor as a condition of getting a modification under HAMP.

42. I heard the government is providing a financial incentive to homeowners through HAMP. Is that true?
Yes. Homeowners who make timely payments on their modified loans will receive success incentives. For every month you make a payment on time, you will accrue an incentive that reduces the principal balance on your loan. If your loan ceases to be in good standing (three monthly payments are due and unpaid on the last day of the third month), no further success payments will be paid, including accrued but unpaid amounts. The incentive will be applied directly to your loan balance annually—$1,000 each year—and over five years the total principal reduction could add up to $5,000. This contribution by the Treasury is designed to help you build equity faster.

43. I do not live in the house that secures the mortgage I’d like to modify. Is this mortgage eligible for a modification under HAMP?
No. If you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible to be modified under HAMP. If you used to live in the home but you moved out, the mortgage is not eligible. Only the first lien mortgage on your primary residence is eligible. The servicer will check to see if the dwelling is your primary residence. Misrepresenting your occupancy in order to qualify for this program is a violation of Federal law and may have serious legal consequences.

44. I have a mortgage on a duplex. I live in one unit and rent the other unit. Will I still be eligible for HAMP?
Yes. Mortgages on two, three and four-unit properties are eligible as long as you live in one unit as your primary residence.

45. Can FHA or VA loans be modified under HAMP? Are all loans eligible?
Most conventional loans including prime, subprime and adjustable loans, loans owned by Fannie Mae, Freddie Mac and private investors, and most loans in mortgage backed securities are eligible for a modification under HAMP. In July 2009, FHA launched the FHA-Home Affordable Modification Program to provide assistance to borrowers to modify their mortgages to provide more affordable payments. FHA-insured first lien mortgage loans that are modified under FHA-HAMP are eligible for certain incentive payments under HAMP. The Administration is working with FHA and VA on a program that would provide for modifications consistent with the Making Home Affordable Program. Currently, loans insured or guaranteed by VA are being modified under other programs.

46. How do I apply for a modification under HAMP?
If you meet the general eligibility criteria for a modification under HAMP, you should gather the financial documentation that your servicer will need to determine if you qualify (See “What information and forms will I need in order to be considered for HAMP?”). Once you have this information, you should contact your servicer and ask to be considered for a modification under HAMP. The servicer’s phone number and email address is on your monthly mortgage bill or coupon book. Please be patient yet persistent. Your servicer may be handling a large volume of inquiries about the program and it may take some time before your servicer is able to process your application.

If you would like to speak to a housing counselor, call 888-995-HOPE (4673). HUD-approved housing counselors can help you evaluate your income and expenses and understand your options, and apply to your servicer for HAMP. This counseling is FREE.

If you have already missed one or more mortgage payments and have not yet spoken to your servicer, call your servicer immediately.

47. What information and forms will I need in order to be considered for HAMP?
Recently, Treasury announced a more streamlined homeowner evaluation process. Now, in order to apply for a Home Affordable Modification, homeowners can submit proof of income (See “What proof of income will I be required to provide with my HAMP application?”) plus the following two forms:
The MHA Request for Modification and Affidavit Form (RMA). This Form captures information on borrower income, expenses, subordinate liens on the property, and liquid assets. It includes a Hardship Affidavit, fraud notice, and information about the Trial Period Plan.
The Internal Revenue Service (IRS) Form 4506T-EZ (Short Form Request for Individual Tax Return Transcript). This form gives permission for your mortgage servicer to request a copy of the most recent tax return you have filed with the IRS. After you have completed the form, print two copies—one for your records and one to send to your mortgage servicer.
Visit the “Request a Modification” section of MakingHomeAffordable.gov for more detailed information.

48. What proof of income will I be required to provide with my HAMP application?
Be prepared to submit a copy of your two most recent pay stubs that show year-to-date earnings. If you are self-employed, you must provide your most recent quarterly or year-to-date profit/loss statement. Visit the “Request a Modification” section of MakingHomeAffordable.gov for more detailed information. If you cannot find the required documentation, or have questions about the paperwork required, please call 888-995 HOPE (4673) and ask for “MHA HELP.”

49. I’m self-employed. How do I get a copy of my most recent quarterly or year-to-date Profit and Loss Statement?
Contact your CPA (Certified Public Accountant) or the licensed tax professional who assists you in completing your tax documentation.

50. What types of documentation would be considered reliable enough to validate “Other Earned Income” for HAMP?
Other earned income (bonus, commission, fee, housing allowances, tips, overtime) must be documented by your employer in either your paystubs or other employment paperwork/contracts. Homeowners are encouraged to work with their employers to gather this information to describe the nature of the income and the continuity of the income.

51. How do I get evidence of benefit income (e.g., social security, disability, death benefits, pension, public assistance, adoption assistance)?
You can provide a copy of benefit letters/statements, disability policy, or receipt of payments such as copies of two most recent bank statements showing electronic deposit of benefits. For additional information regarding social security, disability or death benefit income, contact Social Security directly toll-free at 1-800-772-1213 or visit their website at www.socialsecurity.gov. For all other benefits, you must contact the provider directly for additional information.

52. How do I get evidence of unemployment benefits?
Evidence of unemployment income may currently be obtained through the Department of Labor UI benefit tool, which is available at www.ows.doleta.gov/unemploy/ben_entitle.asp.
After the Home Affordable Unemployment Program (UP) becomes effective on July 1, 2010, unemployment benefits and severance pay will no longer be acceptable sources of income for HAMP consideration. (See “Home Affordable Unemployment Program (UP)” for more information about help for unemployed homeowners.)

53. My rental income was not reported on last year’s tax returns because the property was vacant. What documentation do I need to validate rental income?
In such cases where a property has recently been rented, a signed Rental Agreement contract must be provided to show: the property address, date of contract, lessees name and address, rental amount and rental period. The contract must be signed by all parties (lessor, lessee, rental agents etc.)

54. How do I get a copy of my Divorce Decree, Separation Agreement or other legal written agreements filed with a court (e.g., alimony or child support)?
Gather the information listed below and contact the Office of Vital Statistics in the state where your divorce occurred. The homepage of the state’s website will provide a link/information on how to contact the office of Vital Statistics. Generally, the documentation needed may include, but is not limited to, the following:
Date of your divorce
Full name of spouse
Your driver’s license number
Purpose for which record is needed
Your name and address, together with a self-addressed, stamped envelope

55. How long will modifications under HAMP be available?
HAMP expires on December 31, 2012. Your trial modification must be in place by that date.

56. My loan is scheduled for foreclosure soon. What should I do?
Contact your servicer immediately and ask to be considered for HAMP. Servicers participating in the HAMP program are not allowed to proceed with a foreclosure sale until you have been evaluated for a modification under HAMP, and, if eligible, offer you a trial modification. You may also contact a HUD-approved housing counselor for help by calling the Homeowner’s HOPETM Hotline at 888-995-HOPE (4673).

57. How do I get help with my second mortgage?
The Second Lien Modification Program (2MP) is designed to work in tandem with the Home Affordable Modification Program (HAMP). Together, HAMP and 2MP create a comprehensive solution to help homeowners achieve greater affordability by lowering payments on both the 1st and 2nd liens.

58. What do I need to do to be considered for 2MP?
Under 2MP, when a homeowner’s 1st lien is modified under HAMP and the servicer of the 2nd lien is a 2MP participant, that servicer must offer to modify or provide some level of extinguishment on the borrower’s second lien. The 2MP offer will be made in reliance on the financial information provided by the homeowner in conjunction with the HAMP modification and without additional evaluation by the second lien servicer.

59. Which servicers are participating in 2MP?
At this time, Citi, Bank of America, Wells Fargo, and Chase are participating.

60. What is the Home Affordable Unemployment Program (UP)?
The Home Affordable Unemployment Program (UP) provides homeowners a forbearance, which is a temporary period of time during which your regular monthly mortgage payment is reduced or suspended. This program will be available on or before July 1, 2010 to eligible unemployed homeowners through participating HAMP servicers. Visit www.MakingHomeAffordable.com/contact_servicer.html to find out if your servicer is a program participant and when they will make up available to homeowners.

61. How do I know if I’m eligible for UP?
Participating servicers are required to offer an UP forbearance plan to you if you meet the minimum eligibility criteria:
The mortgage loan is secured by a one- to four-unit property, one unit of which is your principal residence.
The mortgage loan is a first lien mortgage loan originated on or before January 1, 2009.
Have an unpaid principal balance of the mortgage loan that is equal to or less than:
1 Unit: $729,750
2 Units: $934,200
3 Units: $1,129,250
4 Units: $1,403,400
The current unpaid principal balance of the mortgage loan is equal to or less than $729,750.
The mortgage loan is delinquent, or default is reasonably foreseeable.
The mortgage loan has not been previously modified under HAMP, and you have not previously received an UP forbearance period.

In order to be eligible, you must also:
Request that your servicer consider you for UP before three full mortgage payments are due and unpaid. Visit www.MakingHomeAffordable.com/contact_servicer.html to find out if your servicer is a program participant.
Be unemployed when you request consideration for UP, and be able to document that you will receive unemployment benefits in the month of the forbearance period effective date.
Your servicer may require that you have been on unemployment benefits for up to three months before your forbearance period can begin.

62. How do I apply for UP?
Contact your servicer immediately. You can phone, email, or write to your servicer to request an UP forbearance plan. Your servicer must be a participating HAMP servicer in order to offer the program. www.MakingHomeAffordable.com/contact_servicer.html to find out if your servicer is a program participant.

63. How long is the UP forbearance period?
The UP forbearance period is at least three months long. It can be extended, however, depending on investor and regulatory guidelines. Contact your servicer for more information.

64. What happens during the UP forebearance period?
During the UP forbearance period, your monthly mortgage payment must be reduced to no more than 31 percent of your gross monthly household income. Be sure sure to make these payments in a timely manner so as not to jeopardize your eligibility.

65. What happens at the end of the UP forebearance period?
If you get a new job during the forbearance period, let your servicer know. Otherwise, 30 days before your forbearance period expires, your servicer will provide you with an Initial Package so that you can request a modification through the Home Affordable Modification Program (HAMP). Return the Initial Package immediately so that the servicer can formally evaluate you for HAMP.

66. Is UP available for my 2nd mortgage?
No. UP can only be applied to a first mortgage.

67. What if I’m not eligible for UP?
If you are determined to be ineligible for HAMP, the servicer will consider you for other home retention options. If homeownership is no longer an affordable or desirable option, the servicer will consider you for additional foreclosure avoidance programs, including Home Affordable Foreclosure Alternatives Program (HAFA).

68. What other alternatives to foreclosure exist within the Making Home Affordable Program?
The Making Home Affordable Program will include additional foreclosure avoidance options through the Home Affordable Foreclosure Alternatives (HAFA) Program. The primary options available through HAFA include Short Sale and Deed-in-Lieu of Foreclosure.

69. How does the HAFA Short Sale work?
In a Short Sale, the homeowner sells the property for less than the full amount due on the
mortgage. When a homeowner qualifies for the HAFA Short Sale, the servicer approves the Short
Sale terms prior to listing the home and then accepts the payoff in full satisfaction of the mortgage.

70. How does the HAFA Deed-in-Lieu of Foreclosure work?
With the Deed-in-Lieu of Foreclosure, the homeowner voluntarily transfers ownership of the
property to the servicer in full satisfaction of the total amount due. The servicer may require that the
homeowner list and market the property before they agree to a deed-in-lieu arrangement. In order
for the Deed-in-Lieu of Foreclosure to work, the homeowner must provide a marketable title, free
and clear of other mortgages, liens, or other encumbrances.

71. How can I be considered for HAFA?
Homeowners must be evaluated for HAFA within 30 calendar days of the following:
The borrower does not qualify for HAMP.
The borrower does not successfully complete a HAMP Trial Period.
The borrower is delinquent on a HAMP modification.
The borrower requests a short sale or Deed-in-Lieu of Foreclosure.
However, before evaluating a homeowner for HAFA, a participating servicer must first consider that
homeowner for other loan modification or retention programs that they offer. In addition, pursuant to
the servicer’s policies, every eligible homeowner must be considered for HAFA by a participating
servicer before the homeowner’s loan is referred to foreclosure and before the servicer may allow a
pending foreclosure sale to continue.

72. What are some of the warning signs of scams or fraud?
There should never be a fee for assistance with or information about the Making Home Affordable Program.
Beware of any person or organization that asks you to pay an upfront fee in exchange for a counseling service or modification of a delinquent loan. Do not pay – walk away!
Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
Never make your mortgage payments to anyone other than your mortgage company without their approval.
The Obama Administration has launched a coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.

73. What should I do if I’ve been scammed?
First, get the help you need to avoid foreclosure. Contact your servicer immediately.
Contact a HUD-approved housing counselor through the Homeowner’s HOPETM Hotline at 888-995-HOPE (4673).
To learn about foreclosure rescue or loan modification scams, go to www.LoanScamAlert.org or www.ftc.gov/MoneyMatters. To file a complaint or to get free information on fraud and other consumer issues, call the Homeowner’s Hope Hotline at 1-888-995-HOPE (4673) or contact the Federal Trade Commission at www.ftc.gov/consumerprotection or 877-FTC-HELP (4357).