Forclosure Alternatives


We may grant you additional time, for a period of three to six months, to catch up on past due payments under a Forbearance (Repayment) Plan Agreement. We may need your current financial information to determine whether you are eligible for this option.​


We have established a comprehensive Loan Modification Program which is limited to certain borrowers who meet specific criteria. You must be able to evidence, through full documentation, that you will be able to make payments over a long term on the proposed modified loan. We may consider one or more of the following:

  • A change in the repayment terms reflected in the Mortgage Note
  • An extension to the period of the loan term
  • A reduction in the interest rate
  • A reduction of the principal balance


Sometimes the best tactic to avoid foreclosure is the sale of the property. You have the right to sell the property to someone else up until the foreclosure sale date. If the potential buyer’s offer is not sufficient to pay off your loan, we may agree to accept less than the total amount due under certain conditions. This situation is commonly called a “short sale”.


The type of documents we may request from you, whether you are in foreclosure or are engaged in an option to avoid foreclosure, typically include, but are not limited to:

  • A letter stating the request for loss mitigation assistance and detailing the circumstances surrounding your current financial situation (Hardship Letter or Hardship Affidavit)
  • Most recent two (2) years of tax returns – Signed and dated IRS forms 4506T or 4506T-EZ
  • Most recent two (2) years of Forms W-2, 1099, and K-1
  • Most recent two (2) months of paycheck stubs or Most recent quarterly or year-to-date Profit & Loss Statement (if you are self-employed)
  • Most recent two (2) bank statements
  • A copy of your utility bill, dated within 60 days of your hardship letter
  • Declaration page or a copy of current hazard insurance policy


HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure, free of cost to you. If you would like to seek the free foreclosure prevention services of a HUD-approved counselor, please call (800) 569-4287 or click here to find a HUD-approved counseling agency in your area. Borrowers residing in the State of Washington can also call the Washington Department of Financial Institutions at (877) 894-HOME (4663).


The following is a list of fees, charges, or costs that you may incur depending on your loan documents, the use of the various services provided in relation to the servicing of your loan, and applicable laws and regulations. If you have a question about this information, please contact GIT SIT at 888-566-3287.

Fee, Charge, or Cost
Late Charge
Bankruptcy Fees
Foreclosure Attorney Fees*
Foreclosure Costs**
NSF Fee (Returned Check Fee)
Pay-by-Phone Fee

< Amount
2%, as stated in your loan documents
Fees approved by the court
From $800.00 and up, varies by case
From $2,300.00 and up, varies by case

All fees, charges, or costs are subject to change without notice. Additional amounts could be charged if you request services not listed above, or if additional services are necessary, such as in the case of property preservation, unless prohibited by applicable law.

* Attorney fees will be assessed on an hourly basis as necessary.

** Foreclosure Costs include but are not limited to title search and update fees, legal filings, serving of defendants, court/referee costs, sale publication, tax search, departmental/municipal lien search, recording of deed, and transfer tax