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Facing Financial Hardships

By: Home Bank

Loss Mitigation Options

At Home Bank, we understand that financial hardships can strain even the most carefully managed budget to the breaking point.

If you have recently experienced any of the following life events and can't make your mortgage payments, Home Bank has loss mitigation options that you may qualify for, that may help you.

A financial hardship could include any one or a combination of the following:

  • Lost job or related out-of-state-transfer.
  • Reduction of hours or reduced rate of pay.
  • Illness or disability affecting you or someone in your immediate family.
  • Divorce or other marital difficulties.
  • Being called to active duty as a member of a military reserve unit.

Your first, best course of action is to contact our Special Assets Department at the phone number or address listed below. Call us today to learn more about your options and instructions for how to apply. The longer you wait, or the further you fall behind on your payments, the harder it will be to find a solution.

Home Bank
P.O. Box 81459
Lafayette, LA 70598-1459

If you need help, the following options may be possible. Most options are subject to lender approval.

  • Refinance your loan with us or another lender
  • Modify your loan terms with us – With this option, the terms of the original loan are changed in a way that makes it easier for you to repay.
  • Undergo payment forbearance – This option often includes a new repayment plan based on your financial situation that may include a temporary reduction or suspension of payment for a specific length of time.
  • Find more affordable financing – If you are not able to continue paying your mortgage, as an alternative to foreclosure, you may be able to sell your home and use the proceeds to pay off your current loan.

For help exploring your options, the Federal government provides contact information for housing counselors which you can access by contacting: