About PHH Mortgage

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PHH Corporation is an American financial services corporation headquartered in Mount Laurel, New Jersey which provides mortgage services to some of the world's largest financial services firms. PHH is the biggest U.S. outsourcer of home loans, processes and originates mortgages on behalf of small banks and some of the world's largest financial firms, including Morgan Stanley and HSBC Holdings Plc. On October 4, 2018 Ocwen Financial completed its acquisition of PHH Corporation and is now a wholly owned subsidiary of Ocwen Financial Corp.

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Foreclosure Prevention Options

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If you are having trouble making your monthly mortgage payment, PHH Mortgage can help. There are options available that may allow you to keep your house by making your payments more affordable. And Keep Your Keys has helped hundreds of southern California homeowners participate in them.  Some of the more popular options are shown below.

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Forbearance

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A forbearance plan may be an appropriate option for you if you are experiencing an unresolved, short-term financial hardship. This hardship may be due to loss of income resulting from unemployment, illness, or perhaps a disaster. A forbearance plan will allow you to reduce or suspend your mortgage payment for a set period of time.

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- Have time to improve your financial situation and get back on your feet

- Less damaging to your credit score than a foreclosure

- Stay in your home and avoid foreclosure

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Repayment Plans

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You may have had a short-term hardship that resulted in the inability to make your mortgage payment. If that hardship is resolved, a repayment plan may be an option for you.  An agreement between you and PHH Mortgage lets you pay the past due amount, added on to your current mortgage payments, over a specified time period to bring your mortgage payment current.

- Resolve your delinquency
- Catch up on your past due payments over an extended period of time
- Less damaging to your credit score than a foreclosure
- Stay in your home and avoid foreclosure

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Loan Modifications

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An agreement between you and PHH Mortgage to change the original terms of your mortgage, such as payment amount, length of loan, interest rate, etc.

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- Allows you to make a trial payment plan before permanently modifying the mortgage to make sure you can afford your home after modification

- May reduce your monthly mortgage payments to a more affordable amount

- Less damaging to your credit score than a foreclosure

- Stay in your home and avoid foreclosure

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Short Sales

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A short sale is the sale of a home for less than the balance remaining on your mortgage.

 

- Eliminate or reduce your remaining mortgage debt

- Assistance for relocation may be available

- Start repairing your credit sooner than if you went through a foreclosure

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Deed-in-lieu

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With a Mortgage Release (Deed-in-Lieu of Foreclosure), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments.

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- Eliminate your mortgage debt

- May be eligible for in relocation assistance

- Start repairing your credit sooner than if you went through a foreclosure

- Have flexibility and control over exiting your home—choose to vacate immediately, stay for up to three months (without paying rent), or lease the home for up to one year

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Natural Disaster

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PHH Mortgage Services participates in programs that help you recover from the devastation caused recent disasters.

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Here is some information and links to useful websites.

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- fema.gov/disasters: Please visit this website for the most up-to-date resources and information on the federal response to the  natural disaster in your area. Always follow the instructions provided by state, local, and tribal officials. 

- Disaster Preparedness Tips: Are you prepared? Have a family communications plan, cash on hand, a battery-powered radio handy, and a plan for pets. Visit ready.gov to learn these and other preparedness tips.

- DisasterAssistance.gov: If your address qualifies, you can get immediate funds from FEMA wired to your bank account, and find help locating local recovery resources and FEMA Disaster Recovery Centers (DRCs) near you.

- If you have already received your insurance claim check, please click here for further information and assistance.

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Hardest Hit Fund

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Hardest Hit Fund (HHF) programs in 18 states and the District of Columbia are designed to provide assistance to struggling homeowners through modification, mortgage payment assistance, and transition assistance programs. These programs change frequently; therefore, we recommend checking back often for updates.

 

Features and benefits - HHF Programs vary state to state, but often include:

 

- Mortgage payment assistance for unemployed or underemployed homeowners

- Principal reduction to help homeowners get into more affordable mortgages

- Funding to eliminate homeowners' second lien loans

- Help for homeowners who are transitioning out of their homes and into more affordable places of residence

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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 Shellpoint 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.