How to Talk With a Home Retention Representative

When faced with the possibility of losing your home because you've fallen behind on payments, talk with your lender's home retention specialist. These representatives are your first line of defense when fighting to keep your home. Here are a few tips to help you talk with a home retention specialist.

Difficulty: Challenging

Instructions

Things You'll Need:

• List of questions to ask the home retention specialist

1. Contact the home retention specialist assigned to your case. No other home retention specialist will be able talk with you about the details of your loan.

2. Gather your financial information. You will go over your financial information several times when you talk with a home retention specialist, so have this handy before the meeting.

3. Ask as many questions as you feel necessary so that you completely understand your loan forbearance, modification or other work-out plan. At the end of the discussion, review any details with your home retention specialist that you may not fully understand.

4. Verify the numbers. When your home retention specialist gives you the amount of up-front funds (generally, an amount equal to one payment) needed or any other pertinent information, verify it every time you contact the specialist until the process is complete to make sure that nothing has changed.

Tips & Warnings

• Prepare your questions ahead of time. Write them down so you don't forget to ask one while talking with the specialist.

Resources

• Read others' experiences dealing with home retention specialists.