Get Help with Loan Modification & Mortgage Refinancing
Life doesn’t always go as planned. Unexpected illnesses, changes at work and other everyday challenges happen to the best of us, making it difficult to keep up with mortgage payments. We offer a variety of options to help you stay in your home through these tough times. And, if staying in your home isn’t an option, we’ll do everything we can to help you avoid foreclosure.
We can help you with:
- How it Works:
- Your current loan may be replaced by a new loan with a fixed rate and/or a lower monthly payment
- Special home refinancing options are available through the Home Affordable Refinance Program (HARP) for loans owned or guaranteed by Fannie Mae or Freddie Mac
- Key Benefits
- You may receive a lower, fixed interest rate, helping with longer-term financial stability
- You might be able to lower your monthly payment
Mortgage Repayment Plan
- How it Works:
- Your late payments are distributed over a certain period—usually no more than 10 months
- A portion of the late amount you owe is added to your regular monthly mortgage payment
- Key Benefits
- Brings your account up to date within a specified timeframe
- With a goal in sight, you can move forward knowing your mortgage loan is secure
- How it Works:
- You can make a partial payment—or no payment whatsoever—for a specified period of time (typically 3-6 months)
- If you are unemployed, HOPE NOW provides valuable resources
- Key Benefits
- You can prolong foreclosure or place the foreclosure process on hold
- It allows time for a temporary financial hardship to be resolved
- How it Works:
- A permanent change in one or more of the terms of a mortgage loan allows the loan to be reinstated to a “current” status, resulting in a more affordable monthly payment
- Past due interest and escrow may be added to the unpaid principal balance and re-amortized for the remaining loan life
- Key Benefits
- You get a fresh start on managing your mortgage loan
- It can bring your account up to date.
- You might be able to lower your monthly payments
Loan Modification Options
There are several programs and options available to you depending on your specific financial circumstances and which investor owns your mortgage loan. At SunTrust Mortgage, we seek to inform you of these options and to stay in close communication with you throughout the qualification process. For additional help, please use the following resources for more information on loan modification options.
- Loans Owned by Federal National Mortgage Association (FNMA or "Fannie Mae")
If your mortgage is owned by Fannie Mae, please click here for more information on loan modification programs.
To determine if your mortgage is owned by Fannie Mae, please visit their website at: http://loanlookup.fanniemae.com/loanlookup/ .
- Loans Owned by Federal Home Loan Mortgage Corporation (FHLMC or "Freddie Mac")
To determine if your mortgage is owned by Freddie Mac, please visit their website at: https://ww3.freddiemac.com/corporate/ .
- Loans Insured by Federal Housing Administration (FHA)
If your mortgage is insured by FHA, please click here for more information on loan modification programs.
- Loans Obtained through the Department of Veterans Affairs (VA)
If you obtained your mortgage through the VA, please click here for more information on loan modification programs.
- Loans Owned by SunTrust Mortgage
If your loan is directly owned by SunTrust Mortgage, then you may qualify for one of our proprietary loan modification programs. Government programs such as Home Affordable Modification Program ( HAMP®) are not available for SunTrust owned loans.
|Second Lien Modification||
If it is not possible for you to retain your property, there are still options available to you that can prevent foreclosure.
|Deed in Lieu||
For further assistance with these programs, you may reach our representatives at 1-800-443-1032 (option 2) Monday-Thursday 8 a.m. to 10 p.m. EST, Friday 8 a.m. to 8 p.m. EST and Saturday 9 a.m. to 3 p.m. EST. Please have your SunTrust Mortgage loan number ready when you call.
- Loans Owned by Private Investors If your mortgage is owned by a private investor, then any loan modification will be evaluated on an individual basis based on the requirements of your investor.
1. Call us today. Our representatives are ready to help you personally, and can be reached at 1.800.443.1032 (select option 2) Monday through Thursday, 8 a.m. to 10 p.m. EST, Friday, 8 a.m. to 8 p.m. EST, and Saturday, 9 a.m. to 3 p.m. EST. Please have your SunTrust Mortgage (STM) loan number ready.
2. Document your hardship. Be prepared to illustrate why you've missed your monthly payments (i.e. income reduction, divorce, medical issues, etc.)
3. Gather your information. We need a complete understanding of your financial situation to determine the best option for you. Once you decide to apply for a loan modification or other assistance, download your investor package from the list below. If you are unsure which package is the correct package for you, our representatives are available to assist at 1.800.443.1032 (select option 2).
Please Note! These forms must be signed in ink and mailed to SunTrust Mortgage at the address provided below.
Uniform Borrower Assistance Form in the Portfolio Package only
4506-T and 4506-EZ - All Investors
Arm's Length Affidavits - All Investors
- Fannie Mae Package
- Freddie Mac Package
- VA Package
- FHA Package
- Private Package
- Portfolio Package
- Universal Package
- Hardship Letter - a personal letter from the borrower documenting any significant financial hardships that have resulted in an inability to make timely mortgage payments. Examples include, but are not limited to:
- Job Loss
- Loss of income
- First and second mortgage payment information and account numbers
- Recent bank statements
- Other monthly expenses (car payment, student loans, credit card bills, etc.)
- Documentation of Current Household Income - the following documentation is required to verify the types of household income specified below:
|Household Income Type||Required Documentation|
|Wage Earner (W2 employee)||
|Social Security, Disability, Death Benefits, Pension, Public Assistance, Adoption Assistance||
|Other Earned Income||
*Income from alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for repayment.
4. Return the completed forms and documentation using one of the delivery methods below. Our representatives are ready to help you personally, and can be reached at 1.800.443.1032 (select option 2) Monday through Thursday, 8 a.m. to 10 p.m. EST, Friday, 8 a.m. to 8 p.m. EST, and Saturday, 9 a.m. to 3 p.m. EST. Please have your SunTrust Mortgage loan number ready.
You may fax all documents that do not need to be signed in ink and mailed to 877.589.0758. A fax cover sheet with directions has been included in each package.
You may mail all documents to:
SunTrust Mortgage Inc.
PO Box 26150
Richmond, VA 23260
- Please ensure that all documents are in a PDF format.
- Please do not send more than 8 attachments in each submission. If you have additional documents, please send in a separate email.
- If you are submitting documents for more than one loan, please send a separate transmission for each loan.
Please do the following to facilitate the prompt and accurate imaging of your documents:
- Include your FULL name, applicable 10 digit loan numbers and date at the top of the form.
- Ensure each document includes a valid mortgage loan number. If multiple documents for the same loan are being submitted, include the loan number at the top of each page.
- Please refer to the Homeowner Checklist and the Uniform Borrower Assistance Form 710 to ensure that all required information is being submitted.
Once you've completed these steps, you will be assigned and contacted by a Home Preservation Client Representative (HPCR) if you are not already working with one. The role of the HPCR is to be your one point of contact throughout the qualification process.
Options to Avoid Foreclosure
- If you truly cannot remain in your home, there are options available to prevent foreclosure.
Additional Resources and Forms
- The following tools and resources available to assist you with your financial situation:
- HOPE NOW Alliance - an organization that brings together counselors, mortgage companies, investors, and borrowers to provide assistance to distressed homeowners.
- Learn About Homeowner Unemployment Resources - assistance available to unemployed homeowners, organized by HOPE NOW.
- Foreclosure Prevention Advice - advice for avoiding foreclosure provided by the US Department of Housing and Urban Development (HUD), as well as access to free, HUD-certified housing counselors.
Click here for more information on our Escalation Process.
- At SunTrust Mortgage, we’re committed to protecting your privacy. Click here to learn more about our Privacy and Security Policy.
To speak to a SunTrust Mortgage loan representative, call 1.800.443.1032 (select option 2). Our representatives are ready to help you personally, Monday through Thursday, 8 a.m. to 10 p.m. EST, Friday, 8 a.m. to 8 p.m. EST, and Saturday, 9 a.m. to 3 p.m. EST. Please have your SunTrust Mortgage loan number ready.