VHDA has a new way to reach out to borrowers whose VHDA mortgages are more than 60 days past due. If we’ve been unable to reach a customer by phone or mail, a six-minute video on DVD will now be sent to them. Our hope is that customers who have been afraid to call us will play the video, see that there may still be a way to stay in their home, and call us.

In the video, a VHDA staff member explains, in a non-confrontational way, the seriousness of the situation, what the customer can expect when they call, and gives examples of ways we may be able to help them — such as lowering the interest rate, deferring payments or authorizing a short sale. The customer is cautioned that the options available to them will depend on their specific situation, including how far behind they are on their payments.

The video stresses the importance of calling VHDA immediately, because the sooner a borrower calls, the more options we may have to help them save their home. The video has also been posted on YouTube, and the YouTube address is printed on the DVD label for customers who prefer to view it online. You can see the video at YouTube.com/MayWeHelp.

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