Mac Form 710 - Uniform Borrower Assistance Form Page 3

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Frequently Asked Questions
For Your Information Only - Do Not Return with Your Borrower Response Package
1. Why Did I Receive This Package?
You received this package because you have either requested loss mitigation assistance, or because we have not
received one or more of your monthly mortgage payments and want to help you keep your home if at all possible. By
completing this package, we can work together at exploring options that may help resolve any temporary or long-term
financial challenge you face in making your mortgage payments.
2. Where Can I Find More Information on Foreclosure Prevention?
Please see the Avoiding Foreclosure attachment in this package for more information, or you can contact Flagstar Bank
at 1-800-393-4887.
3. Will I Be Evaluated for the Federal Home Affordable Modification Program (HAMP) When I Submit My Borrower
Response Package?
You will be evaluated for all available workout options in accordance with the eligibility requirements of the owner of
your mortgage loan. The evaluation is based on whether you are experiencing a temporary or permanent hardship and
the duration of your delinquency, and may be impacted by your intention to stay in the property. If you intend to stay
in your property and we determine you are not eligible for a refinance, reinstatement, Repayment Plan, or a
Forbearance Plan, then we will evaluate you under the Home Affordable Modification Program (HAMP) prior to
evaluation for other loan modifications.
4. What if I Don’t Want to Stay in My Home Anymore?
You may have good reasons for needing to leave your property, such as a job relocation, a divorce, financial hardship
due to the death of a borrower, or some other reason preventing you from keeping your property. If you intend to
transition out of your home, please indicate that you want to sell or vacate the property on page 1 of the attached
Borrower Assistance Form and we may first evaluate you for a short sale or Mortgage Release (deed-in-lieu of
foreclosure). Even if you are approved for one of those workout solutions, we may consider you for a mortgage loan
5. Will It Cost Money to Get Help?
There should never be a fee from your servicer or qualified counselor to obtain assistance or information about
foreclosure prevention options. However, foreclosure prevention has become a target for scam artists. Be wary of
companies or individuals offering to help you for a fee, and never send a mortgage payment to any company other than
the one listed on your monthly mortgage statement or one designated to receive your payments under a state
assistance program.
6. What Happens Once I Have Sent the Borrower Response Package to You?
We will send you a written notice within five business days of our receipt of your Borrower Response Package to
confirm that we have received your package and will review it to determine whether it is complete or incomplete. If we
determine there is missing information or documentation, we also will send you an incomplete information notice. We
cannot guarantee that you will receive any (or a particular type of) assistance.
Within 30 days of receipt of a complete Borrower Response Package, we will let you know which foreclosure
alternatives, if any, are available to you and will inform you of your next steps to accept our offer. However, if we
receive your complete Borrower Response Package 37 calendar days or less before a scheduled foreclosure sale date,
we will strive to process your request as quickly as possible, but you may not receive a notice of incompleteness or a
decision on your request prior to sale. Please submit your Borrower Response Package as soon as possible.
7. What Happens to My Mortgage While You Are Evaluating My Borrower Response Package?
You remain obligated to make all mortgage payments as they come due, even while we are evaluating the types of
assistance that may be available.
8. Will the Foreclosure Process Begin If I Do Not Respond to this Letter?
If you do not respond to this letter, we may refer your loan to foreclosure in accordance with your mortgage loan
documents and applicable law.
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