Skip to main content Alert Close
Routing: 292977899

Avoid Foreclosure

While it’s not a fun topic, foreclosures can happen. We’ll do all that we can to help you avoid it.

Clearwater employee Tom Boyle, meeting with new homeowners at the Butte, Montana branch.

Life Happens

Medical expenses, illnesses, job loss, career changes, or unforeseen life events can alter your financial life and make it difficult to pay your monthly mortgage.

When this happens, Clearwater’s Mortgage Servicing Team is here to provide answers and assistance. We’ll do what we can to help you avoid foreclosure.

Start with a call or email to our Mortgage Servicing Team.

Home Retention Options to Avoid Foreclosure

Our Mortgage Servicing Team is ready and waiting to help you evaluate the following options to avoid foreclosure.

Refinancing

You may be eligible to refinance or modify your mortgage to a lower monthly payment.

Reinstatement

If possible, you can make a lump-sum payment to make your mortgage current.

Repayment Plan

If you need time to catch up on your late payments, it may be possible to add a portion of those missed payments to future payments.

Forbearance Plan

It may be possible to reduce or eliminate mortgage payments for a set amount of time. When done right, this can allow you to recover financially.

Deferment

You may be able to add any missed payments to the end of the original term of the loan.

Loan Modification

Similar to a refinance, a modification alters your loan to help make your monthly payments more affordable.

Short Sale

When staying in your home is not an option, a short sale lists your property with a licensed real estate agent to sell the home and pay off the mortgage.

Deed-in-Lieu of Foreclosure

When a home cannot be sold, this option transfers ownership to your financial institution.

Contact HUD Counselors

The U.S. Department of Housing and Urban Development, in conjunction with the U.S. Department of the Treasury and the Making Home Affordable Program, provides around-the-clock comprehensive foreclosure assistance and answers. Call 888-995-HOPE (4673) or find a counselor near you.

Learn More About the Montana Homeowner Assistance Fund

An excellent option for Montanans seeking to avoid foreclosure, the Montana Homeowner Assistance Fund is available to those who qualify. With upward of $50 million in federal funding, the fund may be able to help you avoid foreclosure through lien prevention, utilities and internet assistance, home repairs, and mortgage reinstatement.