Contact Us    Locations    01/05/2009

Need Help with Your Home Equity Loan or Mortgage?

Getting Help

If you fall behind on your home mortgage or equity loan payments, there are resources that can help you.

A smart first step is to contact us at 800-797-6324. (Ask for the Collections Dept.)

Below you’ll find other options for advice and assistance, as well as some words of warning:

Who to trust:

Credit Counseling

Mechanics Bank can be your starting point for credit counseling—we’re here to help, so first call us toll-free 800-797-6324. (Ask for the Collections Dept.)

You can access the Department of Housing and Urban Development’s (HUD’s) voice response system for a list of approved credit counseling agencies at 800-569-4287.

The following sources may also offer guidance and support:

• Department of Housing and Urban Development ("HUD")
• HUD Approved Counseling Agencies
• Executive Office for U.S. Trustee Program
• HOPE NOW Alliance
• Homeownership Preservation Foundation
• MyMoneyManagement
• NeighborWorks America

Note: When you click on any of these links you will be leaving Mechanics Bank Web site. Please refer to the Terms of User and Privacy Policy for this outside Web site. Mechanics Bank is not responsible for the quality, delivery or timeliness of goods or services of outside Web sites. This is not a complete list of housing counselors. Others may be available in your area or via the internet.

Who not to trust:

Foreclosure scams

Deals that seem too good to be true almost always are. Foreclosure scams promise to solve your financial problems with little cost or effort, but they may have a big cost in the end.

Remember: Call Mechanics Bank first—we offer real options for resolving your home loan issues.

Beware of these typical scams:

• You surrender the title to your house to the scammer, who promises to let you rent the house and buy it back in the future.
• You think you're signing documents to bring your home loan current, but you're really signing away the title to your home, leaving you with a mortgage, but no home.
• You think you're getting a loan to bring your loan current and pay the past due amount, but you’re really selling your home for that amount. The scammer quickly sells it for a large profit, leaving you with a mortgage, but no home.
• You pay the scammer a fee to take care of everything for you, but they don't.

See Also: Understanding Your Options

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