The goal of home retention is for you to avoid foreclosure and keep your home. There are several options available to prevent foreclosure. The option available to you is determined by your loan servicer based upon your individual circumstance.
Below are some of the options that we may offer depending on your loan type and financial situation:
Unemployment Special Forbearance – Unemployment Special Forbearance is a short-term program which allows you to forego a portion of your monthly mortgage payment while you attempt to obtain employment.
Loan Modification – Loan Modification is intended for individuals who wish to retain their home. It is basically a change in interest rate and the term of the loan. If you qualify for this option, your original note is modified.
Short Sale – Short Sale is intended for individuals who wish to sell their property. If during the listing process your realtor is not receiving any offers that are acceptable to pay off the indebtedness of the loan, Short Sale may be an option.
Deed-in-Lieu of Foreclosure – Deed-in-Lieu is intended for individuals who do not wish to retain their home. Deed-in-Lieu consists of turning the property over to the investor, eliminating the need for a timely and costly foreclosure action.
If you believe one of these options may meet your needs, we ask that you contact us:
WEI Mortgage c/o LoanCare
Attention: Loss Mitigation Department
3637 Sentara Way
Virginia Beach, VA 23452
Email to: LoanResolution@SeleneFinance.com
Selene Finance LP
9990 Richmond Avenue, Suite 400 South
Houston, TX 77042-8500