Questions and Answers for Consumers


You and Fidelity Default Resolution


Our role in a loan default is to help lenders resolve defaults while ensuring that homeowners' interests are protected. To this end, we help lenders comply with laws that protect you, the consumer, in a potential home loan foreclosure

 

These laws require lenders to advise you of their plans by filing and posting legal documents that notify you of their intention to take back the property if you cannot meet your loan obligations.

 

Your lender is obligated to communicate with you when your loan is in default. We urge you to be open and candid about your situation, as it will help you and your lender arrive at a resolution that is in everyone’s best interests.

 

If you are in default on your loan, we understand that this may be a difficult and awkward time for you. We will respectfully answer your questions and, to the extent possible, help you return your loan to current status.

 

In some situations, you and your lender may agree that it is in everyone’s best interests for you to simply surrender the property. This is called a deed in lieu of foreclosure, and we will help you and your lender complete this transaction.

 

To learn more about your rights as a borrower, please visit any of the following Web sites:

 

The Fannie Mae Web site provides information about preventing foreclosure and dealing with your lender.

 

The Department of Housing and Urban Development offers suggestions for communicating with debt counseling services and lenders during a foreclosure proceeding

 

Like its sister agency Fannie Mae, Freddie Mac offers tips on avoiding foreclosure.