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WHAT YOU NEED TO KNOW

Mortgage Hardship Assistance

If you are experiencing difficulty making on-time mortgage payments, forbearance may be an option for you.

Mortgage Hardship Assistance FAQs
For Assistance Call 1-800-724-1633

What is forbearance?

Forbearance is a temporary solution when you cannot make your mortgage payment. Your mortgage servicer will:

  • Reduce or pause your monthly mortgage payment temporarily. During this time, you will not have to make your full monthly mortgage obligation.
  • Apply the correct time period for the forbearance, which varies depending on your particular mortgage (i.e. Fannie Mae, FHA, VA, etc.) as well as any state specific requirements. 

What if I need a mortgage forbearance?

A mortgage forbearance does not happen automatically. You must contact us and let us know you want a mortgage forbearance due to a temporary hardship related to a disaster, unemployment, etc. Please call us at 1-800-724-1633.

What communications will I receive after submitting my hardship assistance request?

  • You will receive a letter confirming you have been approved for a forbearance plan

  • You will receive periodic communications from us regarding next steps

  • You will continue to receive monthly statements but no payment is required during forbearance

What happens during mortgage forbearance?

  • Stay in your home – no foreclosures will be initiated during the forbearance plan term and the terms of your mortgage remain unchanged

  • No payments are due during the forbearance plan

  • No mortgage payment late fees will be charged

*A forbearance is not a forgiveness of debt

What happens when my mortgage forbearance is ending?

We encourage you to contact us prior to your forbearance plan ending. We'll work with you to understand how your temporary hardship is being resolved and to discuss potential repayment options that may meet your individual circumstances, such as: 

Assistance based on your mortgage type:
You may qualify for investor-specific programs which will be outlined in the communications you will be receiving while on your forbearance plan.

Repayment plan.
Over a set number of months, an extra amount will be added to your regular mortgage payment to cover the amount you owe from the forbearance.

These options may require additional paperwork based on your particular mortgage (i.e. Fannie Mae, VA, USDA, etc.).

This information is being provided for informational purposes only and is neither a loan commitment nor a guarantee of any interest rate. If you choose to apply for a mortgage loan, you will need to complete our standard application. Our consideration for approval of your mortgage loan application will include verification of the information obtained in connection with your request, including but not limited to income, employment, asset, property value and/or credit information. Our loan programs are subject to change or discontinuation at any time without notice. Not all products are available in all states. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense. Interest rates are subject to change without notice.