Options to Keep Your Home
Depending on your situation, we may be able to offer you options that can provide you with temporary financial relief and help you keep your home.
When should you consider these options?
- You've suffered a temporary hardship situation that can be resolved
- You need assistance to get back on track to get a fresh start
Below are the options:
Reinstatement
This option will bring your current account up to date, including all fees and costs. It stops the property from going into foreclosure. For either a restructure or reinstatement, please call 800-958-2540 to speak with a Beneficial Loan Specialist.
Repayment Plan
This option is a formal, written agreement between you and Beneficial in which we accept your regular mortgage payment and a portion of your past due unpaid balance for a pre-determined period of time. This will help bring your account current over a period of time--avoiding or stopping foreclosure.
Call 800-958-2540 to speak with a Beneficial Loan Specialist or please complete the payment assistance form.
Restructure
A restructure is used to avoid foreclosure by allowing you to bring your account current by deferring payments. This is a mutual agreement between you and Beneficial and allows you to get caught up on late payments without having to come up with the money.
Loan Modification or Temporary Payment Modification
A loan modification is a formal written agreement between you and Beneficial to reduce your monthly payments for a pre-determined period of time. Additional options may be considered at the end of your term if your situation persists. This would allow you to pay a lower payment for a period of time without refinancing or paying additional cost.
Call 800-958-2540 to speak with a Beneficial Loan Specialist or please complete the payment assistance form.
Please note: You must contact Beneficial for approval to participate in any of the above options. The initial review does not waive any remedies available to Beneficial under the terms of your note and mortgage. You will be responsible for any third party fees and costs that may be incurred during the collections and foreclosure process, as allowed in these documents. Additionally, there may be other terms, exclusions and conditions which you must agree to or meet prior to a solution being approved. Your Loan Specialist will discuss these with you, if any.
