Suntrust Banking

We here at Internet Banking 411 know that with the economic situation in the United States is still reeling under enormous pressure of recession and slow growth. Home owners are the worst affected as they are facing foreclosures and financial quagmires. SunTrust Bank, however, has started offering respite for its customers under its mortgage loan modification plans.

SunTrust mortgage loan modification has created a home retention team that is assisting customers in keeping their homes. The home retention team works under both the company based assistance plans and is also using the “Home Affordable Program” of the federal government.

The only prerequisite for SunTrust mortgage help is that the customers should be current in their payment plans with no delinquencies. People that can qualify for mortgage include those that faced emergencies and deaths in their family, pregnant women or those with infant kids, unemployed people with thinning financial resources, old and retired clients and military service members.

Special forbearance payment plan maybe enacted in case of customers facing a short-term financial hardship. Short sale of property is also allowed if customers sell their homes and other properties at a price lower than the market average; SunTrust will forgo the remaining balance of payments. Short financing of debts is also possible under the plan.

The program helps customers in a number of ways. The procedure of seeking help is simple as customers just need to contact the bank. A company representative will meet with the customers and will ascertain their financial position.