About US Bank

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U.S. Bancorp (stylized as US bancorp) is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, which is the 7th largest bank in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019 it has approximately 3,100 branches and 4,800 ATMs, primarily in the Midwestern United States, and has approximately 72,000 employees.

 

Foreclosure Prevention Options

 

Today US Bank offers a number of foreclosure prevention options.  Some of the more popular options are shown below:

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Repayment plan

A repayment plan allows you to pay your regular monthly payment plus additional funds applied to past-due amounts. Payments are distributed over an agreed-upon period of time.  This option may work for you if you can afford your regular monthly payments and other expenses and you have surplus funds at the end of the month.
 

Hardship loan modification

This option allows you to roll interest and escrow shortage from delinquent payments into the existing loan. You may qualify for an interest-rate reduction to have the term of the loan extended. This option may work for you if you can afford your regular monthly payment or a slight increase in your payment, plus other monthly expenses and you don't have substantial funds left at the end of the month.

Options regarding selling your home

If you face the possibility of selling your home, ask yourself the following before starting the process:

 

- Are you prepared to sell your home?
- Are you unable to recover from a situation that caused you to fall behind on your mortgage payments?
- Are you unable to afford your regular monthly payment and have no means to catch up on delinquent payments?
 

If you decide to sell your home, consider the following options.

 

Short sale
 

In a short sale, the lender agrees to discount the loan balance due to hardship. The home is sold but proceeds fall short of the balance owed.  This option may work for you if you can't afford your regular monthly payment and expenses and you are interested in selling your home, which is worth less than you owe.

Deed in lieu of foreclosure
 

This option allows you to deed your home back to your lender or investor instead of facing foreclosure.

This option may work for you if you can't afford your regular monthly payment or a slight increase in your payment, plus other monthly expenses and you don't have substantial funds left at the end of the month.

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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 US Bank 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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