Renegotiating a Troubled Mortgage

If you have clients facing a potential foreclosure, help them help themselves by assembling the following, as suggested by the Federal Housing Administration.

1. Loan number and recent payment history.

2. A brief explanation of their circumstances. Are their financial problems temporary (for example, a cut in job hours or the illness of a family member) or permanent?

3. Recent income documentation, including pay stubs or tax returns.

4. A list of household expenses — utility bills, food, insurance.

5. A list of other debt obligations — credit cards, car loans.