We at The Payment Help Center understand that you may be going through a stressful time in your life and may have a lot of questions about what to expect next. The most important things for you to do are to keep paying your mortgage and NOT ignore calls from your lender/servicer. Many times people neglect their mortgage payments or calls from their lender/servicer, this only worsens the situation. You have hired us to help you work with your lender and to guide you through the process of solving your mortgage problems. This is not an overnight process, so we would like to take moment to present you with a timeline, so you know what to expect.
- Once we receive your completed application and required documents, the file gets assigned to a processor who reviews all of the documentation, prepares the financial analysis, and sorts the file for underwriting. If any documents are missing, the processor will call to notify you of the missing documentation.
- If all documentation is present in the file, the underwriter will review the file to determine if it is a candidate for the particular solution you are seeking with your lender/servicer.
- Once the underwriter has approved the file for candidacy, contact with the lender will be made, and the process of submitting a loan resolution package to your lender/servicer will begin.
- Once a complete package has been sent to your lender, we will follow up with your lender until an outcome is reached.
- Once a solution has been reached, you will most likely be contacted by your lender to go over the terms of your loan workout.
Timeframe:
1-5 Days: Receive application and required documents from customer.
1-2 Days: Prepare the file for underwriting and gather any missing documentation.
1-2 Days: Underwriter reviews and approves or declines file for candidacy.
1 Day: After underwriter approval, authorizations will be sent to the lender/servicer.
4 Days: The underwriter will assemble a complete and accurate loan workout package and submit it to your lender.
1-90 Days: Depending on your unique situation and the lender/servicer, a resolution can be reached in one day or can be as long as 90 days. Every situation is different and your underwriter will give you specifics as to your unique situation.
After a resolution is reached, you will most likely be contacted by your lender to go over the new terms. It is important that any documentation you receive from your lender should be faxed to 954-642-2278 for review.
This is a basic overview of the process and a simple guide to let you know the steps involved. You will be contacted by the processor once he or she receives your completed file and will also be receiving a call from your designated underwriter when the file enters the queue. If at any time you want an update on your file please call 800-609-0892 Option 1 to get an update on your file. This number is for the operations department and they will have the most accurate information as to the status of your file.
Please be sure to make your mortgage payments while the process is ongoing. Requesting a loan resolution and submitting the appropriate paperwork does not relieve you or your obligation to pay your mortgage. Also note that if you are currently behind on your mortgage that collection efforts will continue until a loan workout solution is reached between you and your lender.
We hope to make this process as easy and pleasant as possible for you. If at any time you feel you are not getting the level of attention or service you require then please call one of the operations managers at 800-609-0892 ext. 104 for immediate assistance between 8:30am and 6:30pm EST.
We are glad you have chosen The Payment Help Center and are grateful to have you as a client.