How does a repayment plan work?

• Missed payments are divided into manageable amounts and spread out over time.
• By catching up as soon as possible, you keep a temporary problem from having longer-term effects.
• It may be less damaging to your credit score than a foreclosure sale.

Important considerations:
During the repayment period, your payments may be much higher than your regular payment amount. We'll need to make sure your income can support those payments before starting your plan.
Permanent (long term) Hardship typically results in a loan modification. Here’s what you need to know about a loan modification and how it can help you get through a permanent (long term) hardship.