WORKOUT OPTIONS

RETENTION OPTIONS

Repayment Plan

Gives the borrower the opportunity to make scheduled payments toward the delinquent amount of the loan in addition to regular payments to bring the loan current.

Forbearance Plan

Suspends all or part of the loan payment for a specified period of time.

Loan Modification

Change one or more terms of the original loan to bring the loan current and/or make the payment more affordable.

LIQUIDATION OPTIONS

Preforeclosure Sale (also known as Short Sale)

Avoid foreclosure by selling the property, even when the home’s market value is less than the total amount owed.

Deed-in-Lieu of Foreclosure

Allows the borrower to turn over the title of the property to you to avoid foreclosure.

CUSTOMIZED OPTIONS

Other workout options can be customized. Contact a Genworth Homeowner Assistance Representative for more information.


Default Management Servicing Guide

Most recent program guide on Publications tab

Contact Homeowner Assistance

Contact us for information and assistance.
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