If you have been impacted by COVID-19 and are not able to make your mortgage or other loan payment, please fill out the form below and we will contact you to discuss options that may be available to you.
If you experience a financial hardship due to the coronavirus pandemic, and you have a federally-backed mortgage, you have the right to request a forbearance for up to 180 days. A “federally-backed” mortgage means it was sold to Fannie Mae or Freddie Mac, or is insured or guaranteed by the FHA, VA, or USDA. You also have the right to request an extension for up to another 180 days. However, you must contact us to request this forbearance. There will be no additional fees, penalties or additional interest (beyond scheduled amounts) added to your account. You will not need to submit additional documentation to qualify for the initial forbearance period, other than making the claim that you have a pandemic-related financial hardship. Additional documentation may be requested if the initial forbearance period is extended.
Forbearance is when your mortgage servicer or lender allows you to pause (suspend), or reduce your mortgage payments for a limited period of time while you regain your financial footing. Forbearance doesn’t mean your payments are forgiven or erased. After the forbearance period, we can transition back to a payment schedule that is appropriate for your situation. You are still required to pay any missed or reduced payments in the future.
If you don’t have a federally-backed mortgage, you may still qualify for relief options and should contact us for options that are available to you.
At the end of the forbearance, your options can include paying all of your missed payments at one time, spread them out over a period of months, or add as additional payments or a lump sum at the end of your mortgage. Each situation will be evaluated on a case-by-case basis based on a client’s financial situation. Unless you are able to do so, you will not be required to repay forborne payments in a lump sum immediately after the forbearance ends.
Please consider any forbearance request carefully. Mortgage accounts in forbearance, as a result of the coronavirus pandemic, cannot be reported negatively to the credit bureau but it will be reported on your credit report as a mortgage under a forbearance agreement and some lenders may not offer refinancing or purchase options to clients currently, or recently in, a forbearance plan.
No foreclosure filings will be initiated, no foreclosure judgments sought, and no foreclosure related evictions or sales executed on covered loans during the period of any CARES foreclosure moratorium, or any foreclosure moratorium required by other federal, state, or other investor.
Foreclosure moratoriums may not apply with respect to vacant or abandoned property.
Need additional guidance?
Visit the Consumer Financial Protection Bureau (CFPB) where you’ll find videos and other helpful information on topics about managing your finances during this challenging time.
Housing counselors throughout the country can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Find a housing counselor by visiting the Consumer Financial Protection Bureau’s “Find a Housing Counselor” page.