At Flagstar Bank, we understand that unexpected financial hardships can put a strain on even the most carefully managed household budget. If you have recently experienced a financial hardship and can't make your mortgage payment, Flagstar Bank has several financial hardship workout options available that may help you.
A financial hardship could include:
- Job loss or out-of-state transfer
- Reduction in hours or 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
To begin a financial hardship workout, you must complete a loss mitigation application. This can be done using either of the options below:
Option 1: Complete the application online through MyLoans®. Once you have logged in to MyLoans, navigate to loan services in the upper navigation bar, and select Mortgage Payment Relief in the drop down.
Option 2: Print and complete the Loss Mitigation Application, and submit with any supporting documents through one of the following methods:
- Fax to:
- Mail to:
Loss Mitigation Department
W-110-2 5151 Corporate Drive
Troy, MI 48098
If you have any questions, please call us at 800-393-4887, Monday-Friday 8:30 a.m.-9 p.m. ET. To find a HUD-approved housing counseling agency, please call HUD at 800-569-4287 or visit the HUD counseling website.
Other important things we are doing to help:
- Flagstar is offering loss mitigation and other hardship solutions authorized by all investors/insurers (FNMA, FHLMC, HUD, USDA, VA).
- Flagstar strictly adheres to all regulatory requirements, state law, federal law, and investor/insurer guidelines with regard to foreclosure, eviction, and repossesion activity.
We continue to monitor all state law, federal law, and investor/insurer guidelines for mortgage relief available to customers.