Another alternative to foreclosure is called Deed in Lieu of Foreclosure (DIL). DIL means that you voluntarily transfer ownership of your home to your lender, the lender terminates the loan, and the remaining balance due is forgiven.

All you need is your loan number, Social Security Number, and property ZIP code to create your account. Then you can download our secure mobile app in the App Store or Google Play to manage your account anytime, anywhere.

An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month.

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan terms will remain...

If you qualify for a loan modification, some potential ways to reduce your monthly payment would be through lowering your interest rate or extending the term of the loan. Specific eligibility requirements may vary depending on the loan’s investor or other factors.

This option helps reduce the overall interest paid on the loan and accelerates the payoff by making two extra half payments each year. Then just choose a payment start date , confirm the payment amount , and enter a bank account .

No problem! You can use your old loan number to access your specific transfer information on our Welcome page.

Hundreds of thousands of loans change hands in this way every year. At Mr. Cooper, we’re determined to set a new industry standard for personal attention and customer satisfaction. We’ll do everything possible to make your transition smooth, simple, and transparent.

If your loan was recently transferred to Mr. Cooper, your first statement may be slightly delayed due to the transfer process. We’ll send you your first statement within 30 days of your transfer date.

If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month. Then we use the money to make your property tax and insurance payments for you. You never need to worry about whether you’re saving enough or when a payment is due—we’ll manage this...