Flagstar Bank Foreclosure Process, Loan and Mortgage Modification Programs

 


Midwest America is proud to have one of the leading mortgage lenders in the United States – Flagstar Bank. They offer a number of services to match the needs of each client. Their services are comprised of sub-prime loans, personal loans, wholesale mortgages and loan modification. They have recently implemented the loan modification program to assist those who are unable to pay their mortgages on time. In a way, this helps the foreclosures to lessen as more cases are being recorded.

Flagstar Bank Foreclosure Assistance and Mortgage Modifications

Loan modification is the most convenient solution for this. It only gives the people the advantage of changing their mortgage for them to be able to process payments easily. From experiencing a difficult financial situation, people are able to free themselves from this burden. The process of loan modification will also stop the foreclosure process which can allow the borrower to work out rates that they can afford.

Hardship letters are the basis for a person to be able to start applying for a loan modification. There are some valid causes of this that the Flagstar Bank approves before applying for a loan modification program:

  • Unemployment or losing the current job
  • Health emergencies
  • Death in the family

If there are other reasons for this, you should state it in the hardship letter. It is also a requirement that you submit supporting documents to back up the hardship letter such as proof of income, employment certificates, tax forms and bank certificates dated from the past 2 years.

It is also an option to file your loan modification application directly from their website:

https://www.flagstar.com/personal/home-loans/mortgagepaymentrelief.html

In order to start with the process, the hardship must be worked out first. The Borrower Financial form1 should be completely filled out. There are practically 2 ways to do this:

Option 1: Go to MyLoans and sign in your account. When you find the Borrower Financial Online Application, you must completely fill it up.

Option 2: Print a copy of the Borrower Financial Form. It should be finished manually prior to faxing it to (866) 234-9845. You can also mail it to : Flagstar Bank5151 Corporate DriveMail Stop S-142-3 Troy, MI 48098

If you are not qualified for the Flagstar Bank loan Modification, you will find better options such as refinancing or a getting a replacement loan. These options can help the borrower in getting better interest rates without the hassle of the whole process of the loan modification application.

Making Home Affordable

You can rely on the Flagstar Bank in assisting you with the Making Home Affordable Program. With this, it is possible to still stay in your home. Even if you have a Fannie Mae or a Freddie Mac mortgage, you will be qualified for the Making Home Affordable Program.

Contact Information:

Flagstar Bank Website and Phone Contacts
Website: flagstar.com
Phone: (800) 447-7181
(800) 945-7700
Fax: (888) 541-2056
Address: 5151 Corporate Drive, Troy, MI 48098

Corporate Headquarters
5151 Corporate Drive
Troy, MI 48098

Construction, Consumer Loan, Home Equity Lines of Credit and Mortgage Payments
Flagstar Bank
Box 371891
Pittsburgh, PA 15250

For Overnight Payments on Mortgage and Consumer Loans Only
Flagstar Bank
ATTN: Retail Lockbox 371891
500 Ross Street, Room 154-470
Pittsburgh, PA 15262

Mortgage Services (800) 968-7700