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Manchester Regional Loan Center
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Loan Administration
Loan Administration is a supplemental source to provide assistance to veterans with delinquent mortgage loans. We are responsible for minimizing losses to the Government as a result of foreclosure.
What does "supplemental servicing" mean?
Your current mortgage holder has the primary responsibility to provide assistance regarding your mortgage loan. VA conducts supplemental servicing in addition to this to ensure veterans receive the maximum opportunity to keep their home.
Do I have to be delinquent before I can contact VA?
No, if something occurs that will affect your mortgage payments, you can contact VA immediately. VA will advise you which program would be of the best benefit based on your situation.
How does Loan Administration provide assistance?
There are several programs available, these include:
- A payment or forebearance plan
- Refunding
- A short sale or compromise sale program
- A Deed-in-Lieu of Foreclosure
What does the term "Guaranteed VA Mortgage" mean?
Your military experience has earned you the option of participating in VA's Home Loan Guaranty Program. Your lending institution is "guaranteed" to receive a certain percentage of your original loan amount should a foreclosure or an alternative to foreclosure occur.
The guaranty will not prevent a mortgage holder from foreclosing on your property.
Who do I contact?
If you need assistance or have any questions you may e-mail Loan Administration at any time
or call 1-800-827-0336. Our office hours are from 7:30 a.m. to 4:00 p.m., Monday through Friday. Please try and have your loan number handy when contacting VA.
What if I don't know my loan number?
You can refer to your Certificate of Eligibility or correspondence you're received from VA. If you cannot find your loan number, have the social security number of the original veteran when you contact us.
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| Reviewed/Updated Date: July 23, 2008 |
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