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Questions Regarding Delinquent Accounts

In a time where market values are declining, variable rate loan rates are increasing, payment amounts are increasing and perhaps incomes are declining, you, as a homeowner, may be facing a financial situation where it is difficult to pay the monthly obligations on your real estate mortgage.

There are options which may be available to you through your lender or their servicing agent.  Although it would be advisable to attempt to utilize one of these options prior to the filing of a Notice of Default (foreclosure), it may be possible to utilize an option after the notice has been filed.

The options which may be considered by your lender/servicing agent are:

  • Short Sale

  • Forbearance Agreement

  • Interest Deferral

  • Reduction of Interest Rate

  • Deed in Lieu of Foreclosure

  • Surrender of Property

If you have a loan which PLM Lender Services, Inc. is servicing and if any of these options seem viable, please contact us at 1-800-829-1585.  You may dial zero and an operator will direct your call or you may call our loss mitigation specialist, Susan Dalton, at extension 204 and discuss the options of which your particular lender may agree.

Upon contacting PLM Lender Services, Inc., we may request any or all of the following:

  • Statements from senior liens showing change in payment amount and/or interest rate

  • Pay stubs or tax returns showing a decrease in income

  • Appraisals or broker price opinions showing a significant decline in value

  • A written statement requesting a change to the loan 

  • Agent Authorization Form if borrower has a third party negotiator

  • Other documentation may be required

Additionally, the toll-free number made available by the United States Department of Housing and Urban Development (HUD) to find a HUD-certified housing counseling agency is 1-800-569-4287 or TTY/TDD 1-800-877-8339.  You may find another useful consumer information on foreclosure alternatives on the HUD website at http://www.hud.gov/foreclosure including an article on “Tips for Avoiding Foreclosure”.

 
     
 

 

 
 

PLM Lender Services, Inc. does not offer a proprietary forbearance or modification plan.  Due to the fact that all loans serviced by PLM Lender Services, Inc. are privately funded, loans at PLM are not potentially eligible for any federal, state or lender guideline foreclosure prevention alternative program.  Should a borrower request a forbearance or modification, it would be subject to majority lender approval.

PLM Lender Services, Inc. - CalBRE License #01125529, NMLS #322482

PLM Loan Processing Center, Inc. - CalBRE License #01858761, NMLS #945371

CALIFORNIA AND NEVADA (not all services available in all states)

 
 
 
 
 

PLM Lender Services, Inc.
46 North Second Street
Campbell, CA  95008
Tel.(408) 370-4030 or (800) 829-1585
Fax. (408) 370-5484 or (800) 829-1595