There are a variety of mortgage relief programs available to help you resolve your delinquency and keep your Connecticut home. We want to work with you to determine the best solution for your situation based on your individual circumstances. If you are experiencing a temporary or long-term hardship and need help to avoid foreclosure, you must complete and submit the Mortgage Assistance Request Form along with other required documentation to be considered for available solutions.

Take action and gain peace of mind and control of your situation. Complete and return the Borrower Response Package to start the process of getting the help you need now.

Learn about our Waterfall Relief Program

You may be eligible to refinance or modify your mortgage to make your payments and terms more manageable, for instance, lowering your monthly payment to make it more affordable. Or, if you have missed a few payments, you may qualify for a temporary (or permanent) solution to help you get your finances back on track. Depending on your circumstances, staying in your home may not possible. However, a short sale or deed-in-lieu of foreclosure may be a better choice than foreclosure – see the table below for more information.

Refinance

  • Overview: Receive a new loan with lower interest rate or other favorable terms.
  • Benefit: Makes your payment or terms more affordable.

Reinstatement

  • Overview: Pay the total amount you owe, in a lump sum payment and by a specific date. This may follow a forbearance plan as described below.
  • Benefit: Allows you to avoid foreclosure by bringing your mortgage current, if you can show you have funds that will become available at a specific date in the future.

Repayment Plan*

  • Overview: Pay back your past-due payments together with your regular payments over an extended period of time.
  • Benefit: Allows you time to catch up on late payments without having to come up with a lump sum.

Forbearance Plan*

  • Overview: Make reduced mortgage payments or no mortgage payments for a specific period of time followed by a complete repayment of your past due amount.
  • Benefit: Give time to improve your financial situation then get you back on your feet.

Modification

  • Overview: Receive modified terms of your mortgage to make it more affordable or manageable after successfully making the reduced payment during a “trial period” (i.e., successfully completing trial period plan for several months).
  • Benefit: Permanently modifies your mortgage so that your payments or terms are more manageable as a permanent solution to a long-term or permanent hardship.

Short Sale

  • Overview: Sell your home and pay off a portion of your mortgage balance when you owe more on the home than it is worth. Learn more.
  • Benefit: Allows you to transition out of your home without going through foreclosure. In some cases relocation assistance may be available.

Deed-in-Lieu of Foreclosure

  • Overview: Transfer the ownership of your property to us.
  • Benefit: Allows you to transition out of your home without going through foreclosure. In some cases relocation assistance may be available. This is useful when there are no other liens on your property.

We Want to Help Take action and gain peace of mind and control of your situation. Complete and return the Borrower Response Package to start the process of getting the help you need now.

Required Form to Complete:

To complete the Mortgage Assistance Request Form, you may either print a form and mail or hand deliver it to McCue Mortgage, or you may use our online form.

Steps to Submitting a Borrower Response Package (Print Directions)

Step 1

Review the following information to help you understand your options, responsibilities, and next steps:

Step 2

Complete and sign the Mortgage Assistance Request Form (Online, PDF, Fannie Mae PDF).

  • Must be signed by all borrowers on the mortgage (notarization is not required).
  • An explanation of financial hardship that makes it difficult to pay the mortgage. Use space provided.
  • Third Party Authorization Form, if applicable.

Step 3

Provide required Tax Returns, Income, Assets, & Hardship Documentation. This documentation will be used to verify your hardship and all of your income (Notice: Alimony, child support, or separate maintenance income need not be revealed if you do not choose to have it considered for repaying this loan).

Documentation Guidelines

Income

  • For each borrower who is a salaried employee or hourly wage earner, provide the two most recent paystubs that reflect at least 30 days of year-to-date earnings for each borrower. Include reliable third-party documentation describing the amount and nature of the income for “Other Earned Income” such as: overtime, bonuses, commissions, housing allowance, or tips (e.g. employment contract or printouts documenting tip income).

 

  • For each borrower who receives self-employed income: provide a complete, signed individual federal income tax return and, as applicable, the business tax return; AND either the most recent signed and dated quarterly or year-to-date profit/loss statement that reflects activity for the most recent three months; OR copies of bank statements for the business account for the last two months evidencing continuation of business activity.

 

  • For each borrower who receives unemployment income, provide last two unemployment checks or deposits. If you do not have copies of your unemployment checks you can perform a claim inquiry to access your records online at https://sso.ctdol.state.ct.us/

 

  • For each borrower who receives Social Security, disability or death benefits, pension, public assistance or adoption assistance, provide documentation showing the amount and frequency of the benefits such as: letters, exhibits, disability policy, or benefits statement from the provider and documentation showing receipt of the payment, such as two most recent bank statements.

 

  • For each borrower who receives rental income, provide a copy of your most recent federal tax return with all schedules, including Schedule E- Supplemental Income & Loss. Rental Income for qualifying purposes will be 75% of the gross rent reduced by the monthly debt service on the property if applicable OR if rental income is not reported on Schedule E, provide a copy of the current lease agreement with either bank statements or cancelled rent checks demonstrating receipt of rent.

 

  • For each borrower who receives alimony, child support or separation maintenance payments as qualifying income*, provide a copy of divorce decree, separation agreement, or other written legal agreement filed with a court, or court decree that states the amount of the alimony, child support, or separation maintenance payments and the period of time over which the payments will be received, AND copies of your two most recent bank statements or other third party documents showing receipt of payments.

*NOTICE: Alimony, child support, or separate maintenance income need not be revealed if you do not choose to have it considered for repaying this loan.

Note: You may also disclose any income from a household member who is not on the promissory note (non-borrower), such as a relative, spouse, domestic partner, or fiancé who occupies the property as a primary residence. If you elect to disclose and rely upon this income to qualify, the required income documentation is the same as the income documentation required for a borrower.

Tax Returns

A tax return copy is required for all borrowers regardless of the source of income. Provide a complete copy of the most recent tax return for each borrower. If filing jointly, provide the joint return, including all completed schedules. If you have not filed the most recent year’s tax return, provide a copy of the most recent year for which filing has been completed.

If you cannot locate your most recent tax return, you may request a free transcript from the IRS at https://www.irs.gov/ or by calling 1 (800) 908-9946.

Assets (Deposit Account Statements)

For each borrower, copies of your last two checking and savings accounts.

An online printout for is acceptable as long as the web address for your bank or credit union is either at the top or bottom of the printed page, and we can verify the ownership of that account from the printouts supplied.

A copy of your latest investment account statement that can also be used to document investment income.

Hardship

  • Divorce or legal separation

Copy of divorce decree, signed by the court OR separation agreement, signed by the court OR current credit report evidencing divorce, separation or non-occupying borrower has different address

  • Death of Borrower or primary or secondary wage earner in the household

Death Certificate

  • Long Term or Permanent Disability; Serious illness of a borrower/co-borrower or dependent

Doctor’s certificate of illness or disability OR Medical Bills OR proof of monthly insurance benefits or government assistance (if applicable)

  • Disaster (natural or man-made) which adversely impacts the property or Borrower’s place of employment

Insurance claim OR Federal Emergency Management Agency grant or Small Business Administration loan OR proof of monthly insurance benefits or government assistance (if applicable).

  • Distant Employment Transfer

Written employer notification OR Military Service Orders

  • Business Failure

Tax Return from previous year (including all schedules) AND proof of business failure supporting by one of the following OR Bankruptcy filing on the business OR two months most recent bank statements for the business account evidencing cessation of business activity OR most recent signed and dated quarterly of year to date profit and loss statement

Step 4

Complete and sign a dated copy of the IRS Form 4506-T

Step 5

Gather and send completed documents—your Borrower Response Package. You must send in all required documentation listed in steps 2-4 above, and summarized below:

  1. Borrower Assistance Form
  2. Income Documentation
  3. Asset Documentation
  4. Hardship Documentation
  5. Tax Returns
  6. Form 4506T-EZ

Please mail all documents above to the below address:
P.O. 1000
1 Liberty Square
New Britain, CT 06050-1000

You can also email the above documents to loss_mitigation@mccuemortgage.com or fax them to 860-801-8103

* Online Users: If you complete the Mortgage Assistance Request Form online, you will have the option to upload your documentation. If you are unable to upload the entirety of your documentation, you must send it to us by mail. Please make a note of this.


Note: IMPORTANT REMINDERS

If you cannot provide the documentation within the time frame provided, have other types of income not specified in the Borrower Assistance Form, cannot locate some or all of the required documents, OR have any questions, please contact us at 800-382-0017.

Keep a copy of all documents and proof of mailing for your records. Don’t send original income or hardship documents. Copies are acceptable.


What happens if I need to do a short sale?

The Pre-foreclosure Sale Program allows homeowners in default to sell their home and use the proceeds to satisfy mortgage debt, even if the proceeds are less than the amount owed. Click here for a detailed explanation of the “Short Sale” process. Additional inquires can be sent to shortsale@mccuemortgage.com.

Frequently Asked Questions

Will it cost money to get help?

There will never be a fee from McCue Mortgage or a qualified counselor to obtain assistance or information about foreclosure prevention options. However, foreclosure prevention has become a target for scam artists. Be wary of companies or individuals offering to help you for a fee, and never send a mortgage payment to any company other than the one listed on your monthly mortgage statement or one designated to receive your payments under a state assistance program.

What happens once I have sent the borrower response package to you?

We will contact you to confirm that we have received your package and will review it to determine whether it is complete. Then, we will send you a notice of incompleteness in the event there is any missing information or documentation that you must still submit. We cannot guarantee that you will receive any (or a particular type of) assistance.

Upon receipt of a complete Borrower Response Package, we will let you know which foreclosure alternatives, if any, are available to you and will inform you of your next steps to accept our offer. However, if you submit your complete Borrower Response Package less than 37 days prior to a scheduled foreclosure sale date, we will strive to process your request as quickly as possible, but you may not receive a notice of incompleteness or a decision on your request prior to foreclosure initiation. Please submit your Borrower Response Package as soon as possible.

What happens to my mortgage while you are evaluating my borrower response package?

You remain obligated to make all mortgage payments as they come due, even while we are evaluating the types of assistance that may be available.

Will the foreclosure process begin if I do not respond to this letter?

If you have missed four monthly payments or there is reason to believe the property is vacant or abandoned, we may refer your mortgage to foreclosure regardless of whether you are being considered for a modification or other types of foreclosure alternatives.

Will my credit score be affected by my late payments or being in default?

The delinquency status of your loan will be reported to credit reporting agencies as well as your entry into a Repayment Plan, Forbearance Plan, or Trial Period Plan in accordance with the requirements of the Fair Credit Reporting Act and the Consumer Data Industry Association requirements.

Will my credit score be affected if I accept a foreclosure prevention option?

While the affect on your credit will depend on your individual credit history, credit scoring companies generally would consider entering into a plan with reduced payments as increasing your credit risk. As a result, entering into a plan with reduced payments may adversely affect your credit score, particularly if you are current on your mortgage or otherwise have a good credit score.

Is foreclosure prevention counseling available?

Yes, HUD-approved counselors are available to provide you with the information and assistance you may need to avoid foreclosure. You can use the search tool at http://www.hud.gov/offices/hsg/sfh/hcc/fc/ to find a counselor near you.

I have seen ads and flyers from companies offering to help me avoid foreclosure for a fee. Are these companies legitimate?

Foreclosure prevention has become a target for scam artists. We suggest using the HUD Web site referenced in the question above to locate a counselor near you. Also, please refer to information regarding Foreclosure Rescue Scams for more information.

What happens if I need to do a short sale?

Short Sale

The Pre-foreclosure Sale Program allows homeowners in default to sell their home and use the proceeds to satisfy mortgage debt, even if the proceeds are less than the amount owed. Click here for a detailed explanation of the “Short Sale” process. Additional inquires can be sent to shortsale@mccuemortgage.com.