Foreclosure is not good for homeowner when having hardship with mortgage. Mr. Cooper Nationstar Mortgage tries to avoid foreclosure and only apply at the last resort. If you find financial difficulty, Nationstar loan modification is good choice to choose. What is loan modification? The further information will be explored in the following section.
You can use Nationstar loan modification to save home from foreclosure. It is only one of methods provided by Mr. Cooper Nationstar. There are several other options such as refinancing, deed in lieu, and short sales. Besides, this method also has purpose to avoid foreclosure and keep the mortgage in good term. Mortgage is long-term loan for home and real estate. You use mortgage because it does not have enough cash to buy home. This kind of loan uses home or property as guarantee. Therefore, customers have obligatory to pay monthly based on Natiostar Mortgage term they choose.
Payment does not have problem if homeowner is at stable income and financial at the same period to mortgage. Unfortunately, future is unpredictable that leads to problem in their financial status. When you are in this situation, just contact Mr. Cooper Nationstar office immediately. Customer service and professional will be glad to help you. The worst result is foreclosure, but Mr. Cooper tries to avoid it. Customer will fill some forms as application to overcome this situation. These documents are necessary before receiving Nationstar loan modification. Mr. Cooper will assess and decide alternative way to solve your problem. Well, hardship payment is urgent problem to solve immediately.
After you are qualified for loan modification, Mr. Cooper will proceed to the next step. Firstly, it starts to modify loan by reducing monthly payment. Normally, you pay fixed amount of money monthly. It will be reduced, but you get extended period. Loan modification may apply for the rest payment or temporary. You can modify it again after your financial status back to normal. When loan is modified, the rate may change to adjust with recent condition. The rate will be lower than previous one. Therefore, your loan and home is safe in the future when using loan modification of Nationstar.
How to apply Nationstar loan modification? You can contact at 888-480-2432. It is customer service at Mr. Cooper Nationstar office. Just contact on the workday; Monday to Thursday at 7 am to 8 pm. For Friday, customer service is available at 7 am to 6 pm. In Saturday, the service is available at 8 am to 2 pm. You can obtain information regarding alternatives to prevent foreclosure via these numbers.
In addition, Mr. Cooper has the official website at www.mrcooper.com with few menus. Go to Support menu and click it. In this menu, there are some sections such as Payments, Escrow, Statements, Mortgage Assistance, and New Customer. You can choose Mortgage Assistance then Option menu. You will see some methods such as refinancing, Loan Modification, Short Sale, Repayment, and Deed in Lieu. Choose Loan Modification to know more about this method. Read and learn carefully every process and step. After understand it, you can contact customer service to apply for Nationstar loan modification then fill some forms as it mentioned in previous section.