Frequently Asked Questions (FAQs)
If you have questions about your loan with The Money Source Inc. and would like to speak to someone, please give us a call at (866) 867-0330. Our team members are available Monday – Friday 8:00 am – 9:00 pm ET and Saturday 8:00 am – 12:00 pm ET to help you.
California Consumer Privacy Act (CCPA)
Standard Servicing Fee Schedule
Need Mortgage Assistance?
We get it, life happens. If you’ve hit one of life’s speedbumps and are struggling to pay your mortgage, we're here to help you get back on track. Always remember, you are part of the Happinest family, and you're never in this alone.
There are several options available to homeowners going through this.
First things first: our dedicated, compassionate, and expert Customer Care Team Members at 866-867-0330 are always standing by to hear from you. They’re there to help find the solutions that are right for you that will help you get back on track.
The most important thing to remember is don’t delay: the sooner you call us, the more we’re able to help you come up with a plan and next steps.
If you’ve been impacted by COVID-19, please visit our COVID Information Hub here. Streamline options and other special programs may be available to you.
Our goal is to explore all solutions that will help you keep your home—including repayment plans, refinancing, and loan modification.
Also, we participate in certain government programs that help homeowners who are going through challenging times.
There may be some instances when the only viable solution is for a homeowner to leave their home. In these cases, we may be able to help avoid the foreclosure process with a short sale or "Deed-In-Lieu" agreement. As your servicer, we are here for you and will continue to work with you in order to provide the assistance you need during this difficult time.
And as always, our Customer Care Team Members are available to discuss your options with you and help you determine the solution that’s right for you. Call 866-867-0330. Remember, the sooner you call us, the more we can help you.
Did you fall behind on your payments due to a temporary hardship, like an unexpected medical bill? We understand, life happens. If that’s the case, but now you’ve recovered and are able to pay your amount due each month, you may be a candidate for a repayment plan.
This is a great option if you qualify. This means that instead of owing it all at once, your late amount due will be spread over a manageable timeframe until you’ve paid it all off. This will mean a small increase in your future monthly payments until you are all caught up.
A LOAN MODIFICATION
Are you facing a long-term hardship? If so, a good option for you may be modifying your loan so it has more manageable terms.
The difference between refinancing and loan modification is this: When you refinance you replace your existing loan with a new one. While a loan modification keeps your existing loan but changes its terms.
If you qualify for loan modification, it could help in a few different ways. First, we’ll see if we can reduce your monthly payment. Another option is that we may be able to lower your interest rate. And lastly, there’s the option to extend the loan's time frame—this might lower your monthly payments.
A SHORT SALE
Unfortunately, it’s possible there isn't a financially viable way for you to keep your home. Or maybe, you've made the choice to leave, based on current circumstances. If this is the case, you don’t necessarily have to go through a foreclosure (which is always difficult).
Here are some other options:
A short sale is when, pending on the approval from your lender, you sell your home for less than you owe on the mortgage.
If you're approved and able to sell your home, any sales proceeds will be applied toward your mortgage debt.
This is a good option because a short sale can have less of a negative impact on your credit score than a foreclosure.
Once we’ve discussed your options with you and agree that a short sale is the best way for you to go, your realtor will need to begin the process.
A DEED-IN-LIEU OF FORECLOSURE
A Deed-In-Lieu of foreclosure is an arrangement where you voluntarily turn over ownership of your home to the lender to avoid the foreclosure process. And it can have less impact on your credit score than a foreclosure.
A Deed-In-Lieu also gives you more time to arrange your move and transition to your new residence.
If and when the time comes, call our Customer Care Team Members at 866-867-0330, and they will help walk you through the process.
Additional information can be found on our Mortgage Help page here
Programs to help you
There are also lots of outside agencies that are great sources of potential help. If you think you might qualify, we’re more than happy to get you in touch with them.
IF YOU’VE BEEN IMPACTED BY COVID-19, HOMEOWNER ASSISTANCE FUNDS MAY BE AVAILABLE
FINANCIALLY IMPACTED BY COVID-19? Homeowners with financial hardships who have been impacted by COVID-19 can apply for assistance with their mortgage payments, property taxes, and other housing costs. Learn more about the program at www.consumerfinance.gov/haf or by calling (800) 569-4287.
¿HA SIDO AFECTADO FINANCIERAMENTE POR EL COVID-19? Los propietarios de vivienda con dificultades financieras que han sido afectados por el COVID19 pueden solicitar asistencia con sus pagos de hipoteca, impuestos a la propiedad y otros costos de la vivienda. Obtenga más información sobre el programa en http://www.consumerfinance.gov/haf o llamando al (800) 569-4287.
First and foremost: thank you for your service. It’s not easy to be on active duty and have to wonder if you’re falling behind on your mortgage or losing your home. Don’t worry, we’re here to help.
Under the Servicemembers Civil Relief Act, active duty U.S. military members are eligible to receive certain financial relief and protections.
If your loan originated before your active duty military service, you may be entitled to protection from foreclosure during your active service and up to 12 months following it.
Also, if you have a high interest rate, you may be eligible to lower it to 6%.
YOU MAY BE ELIGIBLE FOR SCRA BENEFITS
- The SCRA covers all active-duty service members, reservists and members of the National Guard while on active duty.
Think you may qualify for protection and benefits under the SCRA? Please send a copy of your active duty orders to:
THE MONEY SOURCE
500 S. Broad Street, STE 100A
Meriden, CT 06450
Or fax them to 888-214-4255
We'll be sure to let you know if we need any additional information.
Click here to learn more about SCRA benefits.
The Application process
Click here for the Mortgage Assistance Application.
Or mail your application to:
The Money Source Inc.
500 S. Broad Street, STE 100A
Meriden, CT 06450
After you’ve completed your application, we’ll be in touch with you to let you know the documents we’ll need to finish your application.
We’re always happy to help you fill out your application and/or help you get your documents in order. If you need help, call 866-867-0330. And remember, you need to complete your application and turn over all documents before we can discuss your options.
HOW TO APPLY FOR MORTGAGE ASSISTANCE
Sometimes life gives you more at you than you can handle. We get that. And we’re always here for you. Our straightforward mortgage assistance process is designed to help you get through this difficult time. Once you’ve filled out the application and we’ve received the necessary documentation, we can begin to give you the financial relief you need. We recommend that you consult with your attorney if you're currently engaged in active bankruptcy.
Click here to find the form you need to fill out. If you haven’t signed up for your online account yet, click here to get started. If you need assistance or have questions, call our Customer CAREologists at 866-867-0330.
The most important thing to keep in mind when applying for mortgage assistance is that the sooner you do it, the better.
Let us repeat that: the most important thing to do is contact us right away. The sooner you call, the more options you’ll have.
And, if you're already going through the foreclosure process, please get your application and documents to us as soon as possible. Remember, the sooner we get your application, the more likely it is that we can help you.
Again, call us with any questions at 866-867-0330.
Every situation is unique, so look over the mortgage assistance application and review its contents to get an idea of which documents you will need to turn over for us to process your application.
Of course, after we receive your filled-out application, we'll contact you and notify you via mail with a full list of what we need.
Call us if you need help finding the necessary documents 866-867-0330. We’re always happy to help.
Here is a list of some of the most common documents required for a mortgage assistance application:
GENERAL / BACKGROUND DOCUMENTS:
IRS-4506T Form—This document gives TMS authorization to request a copy of your federal tax returns from the IRS. Download here.
Beware of Fraud
These folks are tricky. They might be promising immediate relief from foreclosure. They may demand cash for counseling services (when HUD-approved counseling agencies provide the same thing for free). They may want a credit card number with the promise to reduce your payments or something. Bottom line, if it sounds too good to be true, it probably is.
If you receive anything that seems fishy, including phone calls, letters, or emails regarding your mortgage, please call us right away at 866-867-0330. Below are common “red flags” that could signal a scam:
How to Spot a Scam – beware of a company or person who:
∙ Requests for up-front or advance payment to begin the modification, refinancing, or reinstatement application process
∙ Have phone numbers without a toll-free area code (for example, 800 or 866)
∙ Have a trial or modification agreement from the “Underwriting Department”
∙ Request to start making payments to a third party instead of TMS
∙ Guarantees they can stop a foreclosure or get your loan modified.
∙ Anyone who pressures you to make any commitments that you don’t fully understand
∙ Anytime you see the phrases “government approved” or “official government” in descriptions of loan modification offers
∙ Asks you to release personal financial information online or over the phone and you have not been working with this person and/or do not know them.
Programs to help you
HARDEST HIT FUNDS
The Hardest Hit Fund is a federal fund that includes multiple programs developed for homeowners faced with different types of financial hardship.
TMS currently participates in certain HHF programs in Washington, D.C., Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, and Tennessee.
If you live in one of these states, call us at 866-867-0330 and we’ll go over your options with you.
Learn more about HHF and its programs here.
The United States Department of Housing and Urban Development (HUD) has a number of programs that can help assist you if you’re struggling with making your monthly mortgage payment. What’s unique about HUD is that they have trained housing counselors who will talk to you about your unique situation and go over all options that could work for you. Click here to find a HUD counselor.
HUD FORECLOSURE AVOIDANCE COUNSELORS
If you’ve applied but haven’t qualified for the programs TMS offers, we recommend that you talk to a specialized HUD Foreclosure Avoidance Counselor (this service is free of charge). Find a HUD counselor here.
OTHER HUD RESOURCES
HUD can help if you're in the unfortunate situation of having to leave your home without having another place to stay. Their search tools can help you find affordable apartments across the country. HUD can also help you find out if you’re eligible for public housing, as well as help you find available units. Click here to learn more.
Sponsored by the U.S. Department of Labor, CareerOneStop offers easy-to-understand workforce information and is a comprehensive resource for finding a new job or even a new career.
The Federal-State Unemployment Insurance Program provides unemployment benefits to eligible workers who meet state eligibility requirements (as determined by state law). Click here to learn more.
Servicing and payment contact info
Lock Box (payments only):
P.O Box 650094
Dallas, TX 75265-0094
Mailing address changes and written request by mail or fax:
The Money Source
500 South Broad Street, Suite 100A
Meriden, CT 06450
Fax Number: 888-214-4255
Overnight payment address:
The Money Source
3138 E. Elwood St
Phoenix, AZ 85034
When are my mortgage payments reported to the Credit Bureaus?
By the way, TMS offers a variety of ways to assist in making payments easier for our Happinest customers. If you’d like to review the options, log in to your Happinest account or give us a call us at 866-867-0330 to speak with a customer CAREologist.