Data tokens on this page

Mortgage Assistance

Mortgage Assistance

We understand circumstances change. And we realize you may find yourself unable to make a payment each month. That’s why we’re here—to help you through this time.

If you're having trouble paying your mortgage, contact our Residential Loan Servicing Department at 855-932-7782. We will work with you to help you understand your options.

 

Options That May Be Available to You

REINSTATEMENT

Here you pay the total amount you owe, in one lump sum payment, by a specific date. This may follow a forbearance plan (see below).

It allows you to avoid foreclosure by bringing your mortgage loan up to date, if you can show that you’ll have enough funds available by a specific date.

REPAYMENT PLAN

Here you pay the total amount you owe, in one lump sum payment, by a specific date. This may follow a forbearance plan (see "Releasing the Property").

It allows you to avoid foreclosure by bringing your mortgage loan up to date, if you can show that you’ll have enough funds available by a specific date.

FORBEARANCE PLAN

Here you may make reduced mortgage payments or stop making payments for a specific period of time.

This option gives you time to improve your financial situation.

MORTGAGE MODIFICATION

This is a change to the terms of your mortgage loan to lower your monthly payment amount or interest rate.

This option permanently changes your mortgage loan so your payments or terms of your loan are more affordable.

SELLING THE HOME FOR LESS THAN YOU OWE

This allows you to sell the home and pay off a portion of your principal balance when you owe more money on your mortgage loan than the home is worth.

You may move out of the home and avoid going through foreclosure. In some cases, relocation assistance may be available.

RELEASING THE PROPERTY (DEED IN LIEU)

This option transfers the ownership of the property to us.

It allows you to move out of the home without going through foreclosure. In some cases, relocation assistance may be available.


Review frequently asked questions about Mortgage Assistance by clicking here.

Additional Support

You don’t have to go at it alone. In addition to Wintrust Mortgage’s services, you can get help from community organizations, housing advocates, and public agencies. Many groups focus specifically on foreclosure prevention and provide information and access to certified counseling services, including:

HUD CERTIFIED COUNSELING AGENCIES

U.S. Department of Housing and Urban Development (HUD) is a federal agency focused on increasing homeownership. For a list of HUD-approved credit counseling agencies, call 800-569-4287.

To see HUD’s guide to avoiding foreclosure click here.