About Flagstar

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Flagstar Bank is the primary subsidiary of Flagstar Bancorp, Inc., a bank holding company. It is one of the largest residential mortgage servicers and is on the list of largest banks in the United States.

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Foreclosure Prevention Options

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Flagstar Bank claims to understand that unexpected financial hardships can strain even the most carefully managed household budget to the breaking point. If you have recently experienced a financial hardship and can't make your mortgage payment, Flagstar Bank has several financial hardship workout options available that may help you.  Common options include

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Forbearance

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Forbearance temporarily suspends all or a portion of your monthly payment, followed by a formal plan using another option listed here to return your account to a current status.  Forbearance is best used when your hardship is expected to be short term in nature, or you know that you will be able to pay a particular amount on a specific future date and continue with your payments from that point forward

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Repayment Plan

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A repayment plan adds a portion of past due amounts to your regular monthly payment until your account is current.  A repayment plan is best used when your hardship is expected to be short term in nature, and may even be over, and you have the ability to make an increased payment for a short period of time.

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Short Sale

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A short sale allows you to sell your home for its current value, even if it is worth less than what you owe.  A short sale is best used when you cannot make any payment but want to avoid foreclosure.

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Modification

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A modification makes your payment more affordable by permanently changing one or more of the terms of your original note and mortgage. Delinquent amounts can sometimes be added back into the loan balance. A modification is best used when you can afford a reasonable payment that is less than your current payment and/or you don't have enough cash to bring your loan current.

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Mortgage Release

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A mortgage release transfers title to the property back to us to satisfy the amount you owe.   A mortgage release is best used when you cannot make any payment but want to avoid foreclosure and you have had your home listed for sale for at least 90 days. This option is reserved for the most extreme situations and is subject to investor approval.

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Keep Your Keys

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Keep Your Keys is highly experienced in helping homeowners stop foreclosure.    We have a thorough understanding of the products Flagstar offers as well as their internal processes to get them approved and completed.   With our 5 star reviews and exceptional customer service you would be hard pressed to find a better partner.   Leave your checkbook at home and contact us today for a no cost, no obligation, appointment to get started. 

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