Foreclosure Prevention

Get through these difficult times
  • Look into loan modifications.
  • Discuss home-selling alternatives.
  • Access counseling resources.
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Let's try to find a way for you to keep your home.

Belay Bank and the federal government offer foreclosure alternatives and counseling resources.

Every year, thousands of Americans lose their jobs, have medical emergencies, or encounter some other financial hardship that prevents them from making mortgage payments. At Belay Bank, we understand this is a stressful time, and we invite borrowers to come to us to discuss their options.

  • You might qualify for a modification of your repayment plan or the overall loan terms.
  • A pre-foreclosure sale may allow you to sell your home and use the net proceeds to satisfy your mortgage debt, even though the proceeds are less than what you owe.
  • A deed-in-lieu of foreclosure would convey your interest in your home to us to satisfy your mortgage debt.

Ready To Assist

To learn more about possible loan modifications and other options, please contact us at 800-876-5566. Be prepared to discuss your monthly income and expenses and to have the following information available:

  • Completed Borrower Financial Statement
  • A breakdown of your monthly expenses in detail
  • Your most recent pay stubs with year-to-date earnings
  • The monthly pre-tax income of all the borrowers on the loan
  • A copy of the most recent bank statements
  • Documentation of a second home mortgage, if applicable
  • Credit card account balances and payment details
  • Other debt, balance and payment details

Additional Resources

  • The U.S. Housing and Urban Development Department (HUD) sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. They can be reached at (800) 569-4287.
  • Belay Bank also offers these helpful resources:

Tips for Avoiding Foreclosure
How to Avoid Foreclosure
Consumer Financial Protection Bureau 
HUD Approved Counselors and Agencies

Belay Bank Mortgage is a Nebraska-based division of First Bank, a full-service bank with branches in Missouri, Illinois, and California as well as mortgage operations in Kansas.

Home Loan Advisors
Allow one of our Home Loan Advisors to guide you every step of the way.