Home Loan Payment Deferral
& Forbearance

Are your home loan payments with Bank of America currently postponed?

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Do you need additional assistance with your home loan payments?

If you need an extension of your current payment assistance, you can submit a request online anytime up to three months prior to your next home loan payment due date.

Request additional assistance

Learn more about how repayment works

Frequently asked questions about extensions

If you need an additional extension of your current payment assistance, please contact us anytime up to three months prior to your next home loan payment due date. Your Customer Relationship Manager can help you understand your options.

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

Learn more about how repayment works

Frequently asked questions about extensions

Request payment assistanceFrequently Asked QuestionsCall us

800 669 6650

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

Help is available in English,
Spanish and many other languages

Is home loan payment deferral or forbearance right for you?

If you are experiencing financial hardship associated with the coronavirus, we can provide payment deferrals or payment forbearances (also referred to as a payment postponements) for up to three months or longer.

Both a payment deferral and a payment forbearance are similar in these ways:

  • Your payment due dates are delayed.
  • Your payments aren't forgiven or erased, although we'll work with you on repayment options.
  • There won't be any late charges.

Eligibility

The owners or insurers of your loan will determine if you get payment deferral or payment forbearance:

  • If we own your loan, we may be able to provide you a payment deferral or a payment forbearance.
    • The Bank of America Payment Deferral Program is available for customers who have only one payment due on their loan. We'll defer three payments and extend the term of your loan by three months. Extensions may be available after this initial three month period, up to a maximum of 12 months.
    • The Bank of America Payment Forbearance Program is available for customers who have more than one payment due on their loan (for example, one missed payment and one payment currently due). We'll work with you to understand your specific needs and recommend a forbearance period of three months. Extensions may be available after this initial three month period, up to a maximum of 12 months.
  • If a third party owns your loan (e.g. Fannie Mae, Freddie Mac) or if your loan is insured by a third party (e.g. Federal Housing Administration), we will follow their guidelines and offer you a payment forbearance.
    • Under a payment forbearance, we'll work with you to understand your specific needs and recommend a forbearance period of either three or six months. Extensions may be available after this initial period, up to a maximum of 12 months.
You can submit your request online for mortgage, home equity line of credit, and/or home equity loan payment deferral or payment forbearance. Or call us to explain your current situation. Please have patience with us since our wait times may be longer than usual.

To learn more about mortgage protections and how to safeguard your home and avoid foreclosure, please visit the Consumer Financial Protection Bureau (CFPB).







How it works

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Payment Deferral Program

The Bank of America Payment Deferral Program is available for customers who currently have only one payment due on their loan.

We'll defer home loan payments for up to three months. In general, here's how it works:

  • We'll defer three payments and extend the term of your loan by three months.
  • Interest will accrue during this time period.
  • After this initial payment break of three months, we'll reevaluate your situation and if you are still financially impacted by the coronavirus, we may extend your deferral period for up to a total of 12 months.
  • If you're able to make your payments during that time, please do so.

Learn more about taxes & insurance, credit reporting, automatic payments, and more.

Payment Forbearance Program

The Bank of America Payment Forbearance Program is available for customers who have more than one payment due on their loan (for example, one missed payment and one payment currently due).

We'll work with you to understand your specific needs and recommend a forbearance period of three months. In general, here's how it works:

  • After the initial payment postponement, we'll reevaluate your situation with you and if you are still financially impacted by the coronavirus, we may extend your forbearance period for up to a total of 12 months.
  • At the end of your forbearance program, we'll work with you on how you can make up the postponed payments. Options may include:
    • You pay back the postponed payments at the end of the forbearance period.
    • We set up a repayment plan allowing you to catch up gradually while you are paying your regular monthly payment.
    • We modify your loan which may provide you with alternative ways of paying back the postponed payments through modifying interest rates, extending loan maturity dates, creating lump sum payments due at loan maturity, or other options available based on bank guidelines.
    • Your home loan is paid in full.
  • If you're able to make your payments during that time, please do so.

Learn more about taxes & insurance, credit reporting, automatic payments, and more.

Third-Party Program

Under a third-party payment forbearance, we'll work with you to understand your specific needs and recommend a forbearance period of either three or six months.

  • After the initial payment postponement, we'll reevaluate your situation with you and if you are still financially impacted by the coronavirus, we may extend your forbearance period for up to a total of 12 months.
  • At the end of your forbearance program, we'll work with you on how you can make up the postponed payments. Options may include:
    • You pay back the deferred payments at the end of the forbearance period.
    • We set up a repayment plan allowing you to catch up gradually while you are paying your regular monthly payment.
    • We modify your loan which may provide you with alternative ways of paying back the postponed payments through modifying interest rates, extending loan maturity dates, creating lump sum payments due at loan maturity, or other options available based on bank and investor guidelines.
    • Your home loan is paid in full.
  • If you're able to make your payments during that time, please do so.

The exact repayment solution will depend on your specific circumstances at the time, but please know we'll work with you.

Learn more about taxes & insurance, credit reporting, automatic payments, and more.

What happens at the end of my payment deferral or payment forbearance period?

After the initial payment postponement, we'll reevaluate your situation with you and if you are still financially impacted by the coronavirus, we may extend your payment deferral or payment forbearance. Or we can help you explore your loan modification options.

Call us

800 669 6650

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

Help is available in English, Spanish and many other languages

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