Options to Stay in Your Home

PennyMac offers several mortgage relief programs aligned with the intent to keep people in their homes. Deciding what mortgage relief program best suits your personal needs can seem overwhelming. PennyMac can help. Our resources can help you better understand your options to make informed decisions about your home loan needs.

Call PennyMac today at (866) 545-9070 to compare the mortgage assistance options available to you.

Government-Funded Assistance

Homeowners who are having difficulty making their current mortgage payment may be eligible for assistance through the U.S. Department of Treasury’s Hardest Hit Fund. The Hardest Hit Fund provides assistance - through modification, mortgage payment assistance, and transition assistance programs - to families in areas that have been hit hardest by the economic downturn.


The Home Affordable Refinance Program (HARP) gives homeowners who owe more than their home is worth an opportunity to refinance. HARP is a government program originally rolled out in 2009 to specifically help homeowners who are “underwater” on their homes and owe more than the homes are worth. The program has recently been expanded to allow more eligible homeowners to qualify for home refinancing.

Loan Modifications

A loan modification is a permanent change in the terms of an existing loan, resulting in a more affordable monthly payment for a borrower in default or in imminent danger of default.

If you are behind on your loan payments, your first step is to contact your lender. Do not ignore letters and phone calls. Communication is necessary to show that you are interested in working with us on a solution to keep your home. All you have to do is call and say that you would like to discuss a loan modification. Call PennyMac today.

FHA Negative Equity

PennyMac is one of the leading providers of the FHA refinance for borrowers with negative equity. This program assists borrowers who owe more on their mortgages than their homes are worth to refinance into an FHA-insured loan that more appropriately corresponds to the present value of their home.

At PennyMac, we call it the Positive Equity program. Others refer to the program as an FHA Short Refinance or the Negative Equity program.