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VinMak Asset Management is dedicated to providing quality service to our homeowners. If you own a home with us here you will find resources that can help you evaluate your property and find mortgage payment assistance for owners in trouble. You will also find different places you can go to stay updated on mortgage rates, laws and the hardest hit real estate areas in the United States.

To check the status of your account, make a payment, update your mailing address, ask a question about your Assessment charges, or to confirm dues related to your home, please contact accounting at

Homeowner Resources

If you have experienced a notice of foreclosure there are still several methods that our homeowners in financial distress can use to stop foreclosure fast. Some methods require money, while others require agreement to forgo money by the lender or through the court system.

Step 1: Don’t Panic.

Most households have a surprising array of assets that can be used to make payments and delay foreclosure. Unemployment insurance, disability insurance and savings are each potential cash sources. Household budgets can be slashed. Big, expensive cars can be traded in for cash. Retirement funds are often available — but be aware that withdrawals may result in penalties and additional income taxes.

Step 2: Late And Missed Payments.

If problems cannot be delayed or deferred, and if mortgage payments will be late or unpaid, then you MUST contact the lender as soon as possible. At this point your goal is to help the lender create a “workout” agreement that effectively modifies your mortgage so that the foreclosure can be stopped before going to completion.

Step 3: Look At Workout Options.

Once you enter into discussions with FCI our Servicer — the company that collects the payments on a loan — any number of options are open. While we are NOT required to modify loan arrangements, we often will. look below at our “Re-Finance Options” tab for more information.

Step 4: Refinance The Loan.

Since 2001 millions of loans with new formats have been issued, permitting low monthly payments for the first several years of the loan term and then much higher monthly payments thereafter.

If you have a loan where soaring payments are a certainty, don’t wait to refinance. Do it now while you have a strong credit profile and no missed payments.

The Making Home Affordable © (MHA) Program is a critical part of the Obama Administration’s broad strategy to help homeowners avoid foreclosure, stabilize the country’s housing market, and improve the nation’s economy.

Homeowners can lower their monthly mortgage payments and get into more stable loans at today’s low rates. And for those homeowners for whom homeownership is no longer affordable or desirable, the program can provide a way out which avoids foreclosure. Additionally, in an effort to be responsive to the needs of today’s homeowners, there are also options for unemployed homeowners and homeowners who owe more than their homes are worth. Please read the following program summaries to determine which program options may be best suited for your particular circumstances.

Modify or Refinance Your Loan for Lower Payments

Home Affordable Modification Program (HAMP): HAMP lowers your monthly mortgage payment to 31 percent of your verified monthly gross (pre-tax) income to make your payments more affordable. The typical HAMP modification results in a 40 percent drop in a monthly mortgage payment. Eighteen percent of HAMP homeowners reduce their payments by $1,000 or more. Click Here for more information.
Principal Reduction Alternative (PRA): PRA was designed to help homeowners whose homes are worth significantly less than they owe by encouraging servicers and investors to reduce the amount you owe on your home. Click Here for more information.
Second Lien Modification Program (2MP): If your first mortgage was permanently modified under HAMP SM and you have a second mortgage on the same property, you may be eligible for a modification or principal reduction on your second mortgage under 2MP. Likewise, If you have a home equity loan, HELOC, or some other second lien that is making it difficult for you to keep up with your mortgage payments, learn more about this MHA program. Click Here for more information.
Home Affordable Refinance Program (HARP): If you are current on your mortgage and have been unable to obtain a traditional refinance because the value of your home has declined, you may be eligible to refinance through HARP. HARP is designed to help you refinance into a new affordable, more stable mortgage. Click Here for more information.
“Underwater” Mortgages

In today’s housing market, many homeowners have experienced a decrease in their home’s value. Learn about these MHA programs to address this concern for homeowners.

Home Affordable Refinance Program (HARP): If you are current on your mortgage and have been unable to obtain a traditional refinance because the value of your home has declined, you may be eligible to refinance through HARP. HARP is designed to help you refinance into a new affordable, more stable mortgage. Click Here for more information.
Principal Reduction Alternative: PRA was designed to help homeowners whose homes are worth significantly less than they owe by encouraging servicers and investors to reduce the amount you owe on your home. Click Here for more information.
Treasury/FHA Second Lien Program (FHA2LP): If you have a second mortgage and the mortgage servicer of your first mortgage agrees to participate in FHA Short Refinance, you may qualify to have your second mortgage on the same home reduced or eliminated through FHA2LP. If the servicer of your second mortgage agrees to participate, the total amount of your mortgage debt after the refinance cannot exceed 115% of your home’s current value. Click Here for more information.
Assistance for Unemployed Homeowners

Home Affordable Unemployment Program (UP): If you are having a tough time making your mortgage payments because you are unemployed, you may be eligible for UP. UP provides a temporary reduction or suspension of mortgage payments for at least twelve months while you seek re-employment. Click Here for more information.
Emergency Homeowners’ Loan Program (EHLP): Click Here for more information about EHLP assistance provided in your state.
FHA Special Forbearance: If you are having difficulty making mortgage payments because you are unemployed and have no other sources of income, you may be eligible for FHA’s Special Forbearance. FHA now requires servicers to extend the forbearance period, by offering a reduced or suspended mortgage payment for up to twelve months, for FHA borrowers who qualify for the program. Click Here for more information.
Managed Exit for Borrowers

Home Affordable Foreclosure Alternatives (HAFA): If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed-in-lieu of foreclosure through HAFA SM. Click Here for more information.
“Redemption”is a period after your home has already been sold at a foreclosure sale when you can still reclaim your home. You will need to pay the outstanding mortgage balance and all costs incurred during the foreclosure process.
Contact Your Lender

If you are experiencing difficulties making your mortgage payments, you are encouraged to contact your lender or loan servicer directly to inquire about foreclosure prevention options that are available. If you are experiencing difficulty communicating with your mortgage lender or servicer about your need for mortgage relief, there are organizations that can help by contacting lenders and servicers on your behalf.

Assistance for FHA-Insured Homeowners

The Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD), is working aggressively to halt and reverse the losses represented by foreclosure. Through its National Servicing Center (NSC), FHA offers a number of various loss mitigation programs and informational resources to assist FHA-insured homeowners and home equity conversion mortgage (HECM) borrowers facing financial hardship or unemployment and whose mortgage is either in default or at risk of default.

Click Here to log onto the NSC Loss Mitigation Programs home page.
Click Here for answers to Frequently Asked Questions about FHA’s loss mitigation programs.
Contact FHA

FHA staff are available to help answer your questions and assist you to better understand your options as an FHA borrower under these loss mitigation programs. There are several ways you can contact FHA for more information, including:

Call the National Servicing Center at (877) 622-8525
Call the FHA Outreach Center at (800) CALL FHA (800-225-5342)
Persons with hearing or speech impairments may access this number via TTY by calling the Federal Information Relay Service at (800) 877-8339.
Email the FHA Resource Center
The Online FHA Resource Center
Print Friendly Version Bookmark and Share
Related Information
HOPE NOW Alliance
HOPE NOW Unemployment Resources
Talk to a HUD-Approved Housing Counseling Agency
U.S. Department of Labor Career One Stop
FHA Loss Mitigation Services
EHLP Substantially Similar States
Innovation Fund for Hardest Hit Housing Markets
USDA Loan Modifications
Veterans Administration-HAMP
Reverse Mortgages: Get the Facts
Are You At Risk of Foreclosure?
Tips for Avoiding Foreclosure
Tips for Avoiding Foreclosure (brochure)
Tips for Avoiding Scams

VinMak is usually willing to work with our homeowners as long as you are compliant and have a good history with us. We offer options across the board if you are experiencing financial distress including:

  • Loan Modification: “This option should be considered when the borrower experiences difficulty making regular mortgage payments as a result of a permanent or long-term financial hardship,” says Liz Urquhart with AIG United Guaranty, a leading private mortgage insurance company. “Reducing an above-market interest rate to a market rate and/or by extending the original terms of the note may enable the borrower to continue making payments. Permanent interest rate reductions appeal most to borrowers, but even a temporary rate reduction of one to three years can provide substantial help.”
  • Repayment plans: Say you must miss a payment and that each payment is $1,000. With a repayment plan you might pay $1,075 a month until the missing money is repaid.
  • Reinstatement: Imagine you missed two or three monthly payments. With a reinstatement, or what is also known as a “temporary indulgence,” you bring your loan current, pay late fees and other costs, and the loan continues as before.
  • VA Refunding. If you have a loan backed by the Department of Veterans Affairs, the VA may buy the loan from your lender and take over the servicing. If you have the ability to make mortgage payments, but your loan holder has decided it cannot extend further forbearance or a repayment plan, you may qualify for refunding, according to the VA.
  • FHA loans: If you financed with a loan guaranteed by the Federal Housing Administration, call 1-800-569-4287 or 1-800-877-8339 (TDD) to reach a HUD-approved housing counseling agency for assistance and advice.
  • Forbearance: This is a temporary change in mortgage terms, such as the right to skip a payment or make smaller payments for a year or less.
  • Private mortgage insurers. Mortgage insurance companies typically require lenders to begin foreclosure proceedings once a delinquency reaches 150 days or when a sixth missed payment is due. However, such requirements may be waived in areas impacted by natural disasters and for other reasons.
  • Claim advance: If you bought with less than 20 percent down then either the loan is self-insured by the lender or you have private mortgage insurance (PMI). In some cases PMI companies will provide a cash advance to bring the loan current — money which is sometimes interest free and need not be repaid for several years.
  • Disasters: Most lenders, but not all, will provide substantial relief in the face of hurricanes, earthquakes and other terrible events. Typical measures include a suspension of late fees, no late payment reports to credit bureaus, a pause in foreclosure actions and modified payment schedules. To get such benefits you must contact the lender as soon as possible after the disaster.
  • Re-amortization: In this case your missed payment is added to the loan balance. This brings your account current. However, says Saccacio, “since your debt has increased, future monthly payments may be larger unless the lender agrees to lengthen the loan term.”
  • Deed in Lieu : The deed-in-lieu would allow you to sign over legal ownership to your home for the lender’s agreement not to foreclose.
  • Short sale: An arrangement where the lender accepts less than the mortgage debt in satisfaction for the entire loan amount. Also called a “compromise agreement” with VA loans. Be cautious: Saccacio says in some instances money not repaid may be regarded as taxable income. Also, lenders in some cases may sue to recover any shortfall.
  • Bankruptcy:  When all other options are exhausted many homeowners consider bankruptcy as a last resort to save their home. Unfortunately, in most cases bankruptcy only delays the inevitable; in the  worst case it can actually speedup the process.

Frequently Asked Questions

Why doesn't VinMak directly collect payments?

VinMak handles a high volume of mortgages and real estate projects. For that reason we hire a 3rd party servicing company (FCI Lender) to do our collections.

Who is FCI?

FCI is one of the most trusted mortgage servicing companies in the country, we have a long history with them and they are always willing and able to work with us and the homeowner to create synergy and understanding.

Who is responsible for property repairs?

Because you are making payments on a mortgage you practically own the house, just not the paper. Because of this you are required to carry costs of repair, damage and other costs attached to your home like garbage and electricity.

How do I make a Payment

Go to

Log into the “Borrower Login” section or create an account with them the begin your payments.

Housing and Urban Development

“HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination, and transform the way HUD does business.”

Department of Treasury

“Maintain a strong economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S. Government’s finances and resources effectively.”