OneMain Financial understands that situations arise beyond your control. We sincerely want to work with you. We may be able to find a solution that will keep you in your home. We have experienced representatives who are ready to discuss your options with you.
Call 1-866-698-8332 - we are here to help.
Download and complete the Loss Mitigation Application Form and provide proof of income.
We will work with you to find the best solution for your situation.
For OneMain Financial to better understand your current financial situation, the following items should be provided in order to be considered for any of the solutions below: most recent W-2, pay stubs, tax return document(s), and bank statements.
You may be eligible for home ownership counseling provided by non-profit organizations that are approved by the U.S. Department of Housing and Urban Development (HUD) and experienced in providing such counseling. You can obtain the names and phone number of these approved agencies by calling 1-800-569-4287.
You may also contact the Homeownership Preservation Foundation (HOPE) at 1-888-995-HOPE (4673). The HOPE Foundation is also a non-profit agency with experienced counselors to assist homeowners who are having difficulty meeting their mortgage payment obligations.
Your Rights to Submit Requests for Information and Notices of Error
The PDF below is a summary of your rights to submit requests for information and notices of error.
Contact us immediately. Even if you feel you do not have any resources or ability to repay your loan, we may be able to help you save your home or, at the very least, minimize the negative impact to your credit.
No. Borrowers who are current on loans can seek assistance if they are experiencing financial hardship and cannot afford to make their mortgage payments in full.
Yes. Every borrower with some form of verifiable income and a desire to continue making payments will be considered for assistance.
Depending on the type of loss mitigation you choose (modification or other type), your credit score may be affected.
Whether or not you can still apply for assistance depends on whether you are in an active bankruptcy, have received a discharge, or have been dismissed from a bankruptcy proceeding. If you have been dismissed from a bankruptcy proceeding, you may contact us to discuss the loss mitigation options available.
If you have any questions concerning the status of your bankruptcy, please contact your attorney for clarification.
Yes. You can apply for a loss mitigation option even if a foreclosure proceeding has begun on your property. Timing is critical, so we encourage you to contact us as soon as possible.
A cure is a pre-arranged agreement where your account is brought current by deferring past due amounts if you make at least 2 full payments in a row and demonstrate your ability to continue making full payments.
A modification is a pre-arranged agreement to modify one or more terms of your loan agreement to help you through a difficult period.
You must be experiencing a financial hardship, such as income reduction, that has caused the default on your loan.
Yes. We will need proof of income.
Yes. You should always make your regular monthly payments.
Once we have all the necessary forms and documents to evaluate your application, we will contact you with a decision. If we determine that you are eligible, we will offer you a trial period payment plan which is normally a 3 month period. Once you successfully complete the trial period payment plan, we will modify your mortgage and send you all the new terms of your loan including your new payment.
A short sale is a pre-arranged agreement to sell your home for less than the amount you owe.
Whenever a debt is forgiven and the amount is above $600, we are required to send a 1099. Your individual situation will determine if you are taxed on the amount. We advise you to talk with your tax specialist. We also advise that you review the Mortgage Forgiveness Debt Relief Act Extension information.
When you release your property, the difference between what you owe on the mortgage and what we sell the property for is called a deficiency.
If you qualify for this program, we may waive your deficiency. If we cannot waive your deficiency, you could still be responsible for the difference between the mortgage balance and the sale amount.
Yes. You may still be eligible. If your second lien is with another lender, we will work with you and the other lender to obtain clear title to finalize the transfer.
We are interested in helping you through the transition. Depending on the situation, we could provide you money for moving expenses and deposits.
This option will allow you to repay part of the delinquency each month along with your current monthly payments.
In some instances, the market value has declined and selling your property for the full payoff amount may be difficult. We may accept less than the full payoff while still providing satisfaction of the mortgage lien in certain situations.
OneMain Financial is an Equal Housing Lender.
CA: OneMain Financial Group, LLC and OneMain Financial Services, Inc. and OneMain Consumer Loan, Inc. – Loans made or arranged pursuant to Department of Business Oversight California Finance Lenders License. NH: OneMain Financial - NMLS # 1339418 and OneMain Consumer Loan, Inc. - NMLS # 937358. PA: OneMain Financial Group, LLC and OneMain Financial of Pennsylvania, Inc. and OneMain Consumer Loan, Inc. – Licensed by the Pennsylvania Department of Banking and Securities. RI: OneMain Consumer Loan, Inc., Rhode Island Licensed Lender and Licensed Small Loan Lender.
For residents of the State of Washington only: OneMain Financial Group, LLC - Consumer Loan Company License - NMLS # 1339418, OneMain Financial of Washington, Inc. - Consumer Loan Company License - NMLS # 36167, OneMain Consumer Loan, Inc. - Consumer Loan Company License - NMLS # 937358 and OneMain Financial Services, Inc. - Consumer Loan Company License - NMLS # 1056. Click here for the NMLS Consumer Access Database.