Update on additional home loan payment forbearance and deferral extensions  Learn more

Coronavirus End of Forbearance Options

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800 669 6650

800 669 6650 Monday-Friday 8 a.m. - 8 p.m. Eastern

Help is available in English,
Spanish and many other languages.

What are the options once my coronavirus forbearance is complete?

Programs available once your coronavirus forbearance is complete may include:

  • Repaying the missed payments at the end of the forbearance
  • Setting up a repayment plan that allows you to make up the missed payments over a period of time while paying your regular monthly payment1
  • Moving your missed payments into a deferred balance fully due upon the maturity date of the loan or earlier upon the sale or transfer of the property, refinance of the loan, or payoff of the interest-bearing unpaid principal balance2

If none of these options work, we may be able to set up a modification to change your loan in order to lower your monthly mortgage payment by reducing the interest rate or extending the term of your loan.

Modification Eligibility

You may be eligible3 if:

  • Your loan received coronavirus payment assistance in the form of a forbearance4
  • You're having trouble paying your mortgage due to a financial hardship

There are additional eligibility requirements for these programs. Please contact us to learn more.

There are no fees and no minimum credit score requirements with these programs. However, you will be responsible for certain costs, expenses and fees associated with the servicing of your loan that were incurred by you before the application for the modification is completed and approved (such as foreclosure attorney fees). When your modification becomes final, all prior unpaid late charges will be waived.

Next steps

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Contact Us

When you call us to discuss post-forbearance payment assistance options, please be ready with your loan number, the monthly pre-tax income for each borrower, monthly household expenses, and information about your current financial hardship.

We’ll review your situation, confirm your interest in a modification and, if required for the program, send you a financial information packet.

Throughout the process, you'll have a Customer Relationship Manager who will answer all your questions and help guide you through the steps you'll need to take.

Submit Documentation

If you receive a financial information packet, you’ll need to complete, sign, and return the forms, along with any other documents that are requested, to us as soon as possible.

After we receive your documents, we'll contact you via phone or mail within five business days if any documents are incomplete or missing.

Once we have all of your required documents, it may take us 30 calendar days to complete the evaluation process and notify you of our decision.

Trial Period

If required by the modification program, you’ll start a three month trial period to make sure you can afford the new payments.

We'll send you a Trial Period Plan Notice explaining the terms, such as the monthly payment amount, the deadline to accept the trial plan terms, and the date your first trial payment is due. You can make payments through Online Banking, by mail, or over the phone.

Once you’ve made all trial payments on time, we’ll send you the Modification Agreement.

Loan Modification Agreement

The Modification Agreement defines the changes to your home loan. This agreement may need to be signed, notarized, as required, and returned to us by the stated deadline in order for your modification to become permanent.

Once completed, we are required to report the modification to the credit bureaus, which may negatively impact your credit.

What if I'm not eligible or get declined?

If your financial circumstances change, we may be able to reevaluate your eligibility for a program.

If we can't find another affordable option that works for you to stay in your home or if you no longer wish to remain in the property, please contact us to discuss the options to settle your home loan debt.

Call us

800 669 6650

800 669 6650 Monday-Friday 8 a.m. - 8 p.m. Eastern

Help is available in English, Spanish and many other languages.

1 Number of months for repayment varies based on individual investor or insurer guidelines.

2 Available for Fannie Mae and Freddie Mac loans.

3 These eligibility requirements are informational and are not intended as a commitment to modify your home loan nor is this an exhaustive list of the eligibility of these programs.

4 Some programs offered on Fannie Mae and Freddie Mac loans do not require a previous forbearance to be eligible.