MainSource Bank is committed to helping families stay in their homes.
We have several solutions that will help you manage your payments or move on from your current situation. The first step is asking for help.
If you would like contact information for counseling agencies or programs in your area, call the US Department of Housing and Urban Development (HUD) at 800-569-4287 or visit the Department of Housing and Urban Development or the Consumer Financial Protection Bureau. If you would like contact information for a state housing finance agency, visit the Consumer Financial Protection Bureau.
If you wish to stay in your home:
Life can be tough. And keeping up with monthly mortgage payments can be even tougher.
Don’t let one missed monthly payment turn into two. Reaching out now for help may save you and your family a lot of heartache and headaches down the road.
Here are some options that may allow you to keep your home:
- How does it work? Borrower will receive a new loan with lower interest rate or other favorable terms.
- Will it benefit me? By refinancing, the payment and loan term is more affordable to the borrower.
- How does it work? Borrower will make past due payments together with regular payments over an extended period of time.
- Will it benefit me? The Repayment Plan allows time to catch up on the late payments without having to make one lump sum payment.
- How does it work? After successfully making the reduced payments during a “trial period”, the borrower may be eligible to receive modified terms to make the loan more affordable or manageable.
- Will it benefit me? This program permanently modifies the mortgage so payments or terms are more manageable as a permanent solution to a long-term or permanent hardship.
For more information:
If you can’t stay in your home:
MainSource is here to help you stay in your home. If that is not possible, here are some solutions to help avoid foreclosure.
- How does it work? Borrower will sell their home and pay off a portion of the mortgage balance when borrower owes more than the home’s value.
- Will it benefit me? By doing a short sale, the borrower can transition out of their home without going through foreclosure. In some cases, relocation assistance may be available.
- How does it work? Borrower will transfer ownership back to the investor/bank.
- Will it benefit me? Deed-In-Lieu allows the borrower to transition out of their home without going through foreclosure.
For more information: