Dovenmuehle Mortgage

By Mortgage Outreach Staff

Dovenmuehle Mortgage, Inc. was founded in 1844. It’s the oldest mortgage banking company in the Midwest and one of the oldest in the U.S. It services 350,000 mortgages with a principal balance of more than $50 billion in all 50 states, Puerto Rico and other U.S. Territories. It can be reached at:

Dovenmuehle Mortgage, Inc.
1 Corporate Drive, Suite 360
Lake Zurich, IL 60047
1 (800) 669-4268 Customer service
customer.service@dmicorp.com

The company updates account information daily. With your Social Security and account numbers you can track your payment activity, current balances, escrow analysis, year-end details, and year-to-date information on payments for insurance and taxes. After registering you can do the same on the website www.dovenmuehle.com

If you’re having trouble paying your mortgage, Dovenmuehle urges you to call the Loss Mitigation Department toll free at 1-(888) 395-3997 to speak with a staff member to discuss your hardship and explore foreclosure avoidance options. “Please don’t delay—the sooner you call, the more likely we can find an alternative for you.”

If the financial problem is temporary, borrowers may qualify for:

Forbearance where payments are reduced or suspended for a set period of time, then brought current;
Reinstatement, where your arrearage is paid in a lump sum by a specific date;
Repayment, which allows you to pay a percentage of your back payments each month until you are caught up while keeping current with ongoing payments.

If your hardship is longer term or may not improve, Dovenmuehle may arrange a couple of options for you to keep your home.

A loan modification will permanently change the terms of your loan to make it more affordable, lowering the interest rate or extending the repayment period. Missed payments get added to the loan balance.
A partial claim, which is a one-time interest-free loan to bring the mortgage current.

If you can’t keep your home, Dovenmuehle may be able to arrange a short sale where it accepts less than the outstanding mortgage for your home or a Deed in Lieu of Foreclosure where it accepts title to your home instead of completing the foreclosure process.

Before calling, be sure to collect the following material:

Your loan account number
A description of your hardship
Recent income documents including pay stubs, benefit statements from Social Security, disability, unemployment, retirement or public assistance
Taxes filed for the past two years
A breakdown of expenses

Dovenmuehle urges you to explore your options with a U.S. Department of Housing and Urban Development HUD approved local counseling agency reachable on the HUD website by clicking on your state or by calling HUD toll-free at 1-800-569-4287.