Frequently Asked Questions

Should I still contact First Savings Bank if I have waited too long and my property has been referred to an attorney for foreclosure?

Yes, the sooner the better!

How will I know which program I qualify for?

All you have to do is call us and we’ll talk you through available options and help you understand the forms and documents we need from you. Our contact information is at the bottom of this page.

How long will it take to know if my assistance application was received and was complete?

We’ll contact you within five (5) business days of receipt of your application and discuss its status and any missing documentation that we will need.

Will deferring or postponing my home loan payments affect my credit score?

It’s best if you call us right away if you are having problems making your home loan payments. We won’t report your account as delinquent while you are on a deferral or forbearance plan, although some programs require us to identify your account as being in a forbearance plan.  If you have not made arrangements with us, we will accurately report your loan’s payment history.

How much will it cost to get help?

First Savings Bank does not charge a fee to obtain assistance or information about foreclosure prevention options. Be wary of any offer to help you for a fee, and never send your First Savings Bank mortgage payment to anyone other than us unless you are under a state assistance program.

I acquired an ownership interest in the property through death, inheritance, divorce, etc. but am not a borrower on the loan. What should I do?

Contact us as soon as possible. We are here to help you navigate these events and provide you with mortgage payments instructions. We will need to collect documentation to confirm your identity and ownership interest in the property and discuss next steps with you.

If I am in a deferral/forbearance program and have postponed my home loans payments, what happens if I need additional credit?If you have accepted a payment deferral you are representing to First Savings Bank that you are experiencing a financial hardship that you do not expect to be resolved without our help. As a result, you may not be eligible for new credit requests with First Savings Bank while working through the financial hardship and any approved assistance periods.

What is foreclosure?

In simple terms, foreclosureis the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property.

This process may involve an eviction and you may remain liable for your first lien mortgage debt if not fully satisfied.

What are the consequences of foreclosure?

There may be many consequences of a foreclosure but the most immediate concern is that you must move or you will be evicted from the property. Longer term complications may include you and any additional borrower listed on the mortgage experiencing negative credit implications. In some cases these negative credit implications may last as long as seven years which may disqualify you from future loan requests.  These are just a few examples of the consequences of a foreclosure and are not a comprehensive list.

Will the foreclosure process begin if I do not respond to notices regarding missed payments?

If you do not respond to our notices to you regarding past due payments, we may refer your loan to foreclosure in accordance with your mortgage loan documents and applicable law.

What if my property is scheduled for a Foreclosure Sale in the future?

Time is of the essence. We want to help but if we receive a complete Mortgage Assistance Application and the supporting documents too late, there is no guarantee we can evaluate you for a foreclosure alternative in time to stop the foreclosure sale. Even if we are able to approve you for a foreclosure alternative prior to a sale, a court with jurisdiction over the foreclosure proceeding (if any) or public official charged with carrying out the sale may not halt the scheduled sale.  If you think this might be the case, please call us ASAP!

Are there other resources that provide counseling services which could help prevent foreclosure?

Yes! For a list of HUD-approved housing counseling agencies that can provide foreclosure prevention information, contact one of the following federal government agencies:

• • • The U.S. Department of Housing and Urban Development (HUD) at (800) 569-4287 or hud.gov/counseling
    • The Consumer Financial Protection Bureau (CFPB) at (855) 411-2372 or consumerfinance.gov/mortgagehelp
    • If you need assistance with translation or other language assistance, HUD-approved housing counseling agencies may be able to assist you. These services are provided without charge.