Mortgage Modification

Millions of borrowers who are current, but are having difficulty making their payments, and borrowers who have already missed one or more payments may be eligible for one of the programs below.

"Home Affordable Modification"—you may be eligible if:

• Your home is your primary residence
• Your loan is owned or guaranteed by Fannie Mae or Freddie Mac
  (Visit Fannie Mae or Freddie Mac to find out)
• The amount you owe on your first mortgage is equal to or less than $729,750
• You obtained your mortgage before January 1, 2009
• The monthly payment (including principal, interest, taxes, insurance, and home owner's association dues, if applicable) on your first mortgage is more than 31% of your current monthly gross income

If you meet all of these criteria, you may qualify for a "Home Affordable Modification." Contact Sovereign's Loss Mitigation Team at 888-656-8101, and mail in a completed "Home Affordable Modification" package to determine if you qualify.



Sovereign Bank Home Loan Modification—you may be eligible if:

• Your home is your primary residence
• Your loan is owned or guaranteed by Sovereign
• The monthly payment (including principal, interest, taxes, insurance, and home owner's association dues, if applicable) on your first mortgage is more than 31% of your current monthly gross income

If you meet all of these criteria, you may qualify for a Sovereign Bank Home Loan Modification. Contact Sovereign's Loss Mitigation Team at 888-656-8101, and mail in a completed Sovereign Home Loan Modification package to determine if you qualify.



Additional Options
If you do not meet any of the program criteria above, we realize that circumstances beyond your control may make it difficult to make your monthly mortgage payment.

Depending on your current financial situation, there is help we can offer that may assist you in avoiding the loss of your property and/or minimize the impact to your credit rating.

Additional options include:

• Repayment Plans
• Loan Modification
• Pre-Foreclosure Sale (Short Sale)
• Deed-in-Lieu of Foreclosure
• Forbearance Plan
• Loan Assumption

In order for us to determine the best option for you, please download and complete the Sovereign Bank Financial Package below.