[Moe Bedard]

This is directly from the guidelines to the program.........

If a servicer tells us that a loan cannot be modified because the eligibility requirements were not met, or the investor is not participating in the program what should we do?


If modification under the plan is not an option because the borrower does not meet the eligibility criteria, or the investor is not participating in the program, the servicer should discuss all loss mitigation options including; loan modification scenarios outside this program, opportunities to refinance or access to available local resources such as rescue grants and loans. If homeownership retention is not possible, counselors should discuss short sales and deeds in lieu of foreclosure as ways to help a borrower transition to more affordable housing.