Answers to your home loan questions.

Need assistance with your mortgage, we’re here to help.

Loan tips to help avoid foreclosure, homeowner counseling services and more.

If you're having trouble paying your mortgage, whether your challenges are temporary or long-term, we would like to work with you to find a resolution. In these situations, time is of the essence therefore you'll want to make us aware of your circumstances as soon as possible. Start by completing the Borrower Response Package and IRS Form 4506T-EZ  which will help us determine whether you qualify for assistance. Additionally, our information on avoiding foreclosure (found below) briefly explains some other possible options.

Download, print, fill out and return the Borrower Response Package and IRS Form 4506T-EZ to the Bank. Mail to: Farmington Bank, Attn: Loss Mitigation, One Farm Glen Blvd., Farmington, CT 06032-1919

The Borrower Response Package paperwork consists of:

  • Borrower Response Checklist of necessary documents for all borrower(s) including copies of all required documents
  • Borrower Assistance Form (3 pages)
  • IRS Form 4506T-EZ (2 pages)

If you have any questions regarding the contents of the package or completing the documents, please Contact Us. Or call 877.376.2265 and ask to speak with a Loss Mitigator.

Once we have received and evaluated your information, a Bank Representative will contact you to discuss next steps.

There are a variety of programs available to help you resolve or avoid delinquency and possibly keep your home. If you have missed or inevitably will miss payments, you may qualify for a temporary (or permanent) solution to help you get your finances back on track. Depending on your circumstances, staying in your home may not be possible. However, a short sale or deed-in-lieu of foreclosure may be a better choice than foreclosure. Here are some options:


Pay the total amount you owe in a lump sum payment by a specific date. If you can show you have funds that will become available at a specific date in the future, this will bring your mortgage current allowing you to avoid foreclosure. This may follow a forbearance plan as described below.

Forbearance plan

Pay back your past-due payments together with your regular payments over an extended period of time. This allows you to catch up on late payments without having to come up with a lump sum.

Special forbearance plan (temporary option)

Make reduced mortgage payments or no mortgage payments for a specific period of time. This gives you time to improve your financial situation and get back on your feet.


Receive modified mortgage terms to make your payments more affordable or manageable. Successfully making reduced payments during a three to four month trial period is required. This option creates a solution to a long-term or permanent hardship.

Short sale

Sell your home for less than the balance remaining on your mortgage, and pay off all (or a portion of) your mortgage balance with the proceeds. A short sale may be an option if you owe more on your home than it’s worth or have not been able to sell your home at a price that covers what you still owe.

Deed-in-lieu of foreclosure

Voluntarily transfer the ownership of your property to the Bank in exchange for a release from your mortgage loan and payments. Options are available (sometimes with a relocation incentive) to help you leave the home immediately; stay in the home for up to three months; or lease the home for up to one year. This option is only possible when there are no other liens on the property.

Scam artists are taking advantage of distressed homeowners and stealing millions of dollars from them by promising immediate relief from foreclosure, or demanding cash for counseling services when HUD‐approved counseling agencies provide the same services for FREE. If you receive an offer, information or advice that sounds too good to be true, it probably is.

How to spot a scam

Beware of a company or person who:

  • Asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage.
  • Guarantees they can stop a foreclosure or get your loan modified.
  • Advises you to stop paying your mortgage company and pay them instead.
  • Pressures you to sign over the deed to your home or sign any paperwork that you haven't had a chance to read or don't fully understand.
  • Claims to offer "government‐approved" or "official government" loan modifications.
  • Asks you to release personal financial information online or over the phone and you have not been working with this person or do not know them.
How to report a scam
  • Go to and fill out the Loan Modification Scam Prevention Network’s (LMSPN) online complaint form, or
  • Call 888.995.HOPE (4673).

HAMP® is designed to lower monthly mortgage payments, making them more affordable and sustainable for the long term.1 Learn more at Home Affordable Modification Program (HAMP®).

1 HAMP® is only offered to qualified candidates whose loan was originated prior to January 1, 2009 and the investor of the loan participates in this program. Contact a loss mitigation representative to find out more.


Answers about payments and other questions you have about your existing mortgage.

Yes. You can make your mortgage payment online from your eligible Farmington Bank account. Set up one time and recurring payments when you log in to your Online Banking account, Enroll now, and click on Loan Payments within the left-hand menu. Or you may set up recurring payments directly from your Farmington Bank or a non Farmington Bank account.

For assistance, please visit any Farmington Bank branch office or call 877.376.2265.

Year-end interest-paid statements (IRS Form 1098) are mailed in late January. You can also find your year-to-date interest amount in Online Banking under the History tab.

If you have not received your form by February 15, please contact us at 877.376.2265.
Yes. Please contact our Loan Servicing Department at 877.376.2265.
Homeowner’s Insurance (also known as home or hazard insurance) is an insurance policy that protects against losses associated with one’s home, its contents, personal possessions, as well as liability insurance for accidents that may occur at the home.

Questions regarding your Homeowner’s Insurance policy should be directed to your insurance agent.
Your monthly mortgage payment may have changed due to one of the following reasons:

Escrow for Property Taxes: Your property may have been reassessed or your tax rate may have changed. You should contact your local taxing authority with questions regarding property tax changes.

The amount collected for the set up of your escrow account was more or less than the actual bills received for real estate taxes and applicable insurance premiums. Sometimes escrow payments are estimated at loan closing.

Homeowner’s Insurance: Your premium may have increased or decreased as a result of changes to the type or extent of your insurance coverage. Or your insurance company may have changed your insurance rate. Questions regarding your insurance premiums should be directed to your insurance agent.

New Construction: Typically the initial taxes due for a new property are only based on the lot/land. We may have received a bill for the fully assessed value which includes the land and the house.
Your Home Equity Line of Credit includes an annual $50 membership fee charged in the month of February.
When there are joint owners on a loan and one passes away, the remaining person is responsible for the loan. The Bank will need a copy of a Death Certificate to remove the deceased from the billing, and the remaining owner becomes the tax payer.

If you don't remove the deceased name and you make a claim to Homeowners insurance, you will not be able to cash the check. The check has to be made to only the existing borrower.

If a borrower has a HELOC and passes away and there is no second borrower on the line. The line is frozen.
Tax roles can only be changed in the case of death or divorce with the correct documentation.


Answers to questions concerning your escrow account.

An escrow account is used to set aside payment for property taxes and insurance. A portion of each mortgage payment you make is deposited to your escrow account. We use these funds to pay your property taxes and applicable insurance premiums when they are due.
When the funds in your escrow account are less than your property taxes and applicable insurance premiums due, it results in an escrow shortage. Even if you pay your shortage, your payment can increase if your annual property taxes or insurance premiums increase. Your monthly escrow payment included in your mortgage payment is based on projected activity for the coming year. Read our Guide to Help Understand Your Escrow Statement for a detailed explanation.
We review your escrow account each year to determine if the escrow portion of your monthly mortgage payment is sufficient enough to cover the annual requirements for your real estate taxes and applicable insurance premiums. We are required to provide you the results of this review and its effect on your monthly mortgage payment in accordance with the Real Estate Settlement Procedures Act (RESPA). Occasionally, we may provide you with an interim statement in order to maintain compliance with RESPA.

Escrow analysis is done every August and payment changes take effect in the October 1 payment.
Under Federal law, we are allowed to maintain a minimum balance in your escrow account to use as a safeguard cushion in the event your property taxes and/or insurance payments increase. Unless your mortgage contract or state law specifies a lower amount, your escrow account minimum balance is equal to no more than two months escrow payments for your property taxes and applicable insurance premiums (also equal to 1/6 of your annual projected property taxes and insurance premiums due).
Where required, rates of interest paid on escrow accounts are set by the State where the mortgaged property is located.  Accrued interest is posted to the escrow account on December 31st of each year.”

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