Homeowner Hardship Relief Assistance

A forbearance may be available for mortgages, home equity loans, and home equity lines of credit. A forbearance is an agreement to temporarily pause or reduce your loan payments to allow time to get your finances back on track to pay off the past-due balances.

The paused payments are not forgiven and need to be repaid at the end of the forbearance. If you cannot make the full paused payments owed and resume your regular payments, please contact us at 1-866-947-2610, so we can review your circumstances and see if you qualify for additional assistance.

A repayment plan may be available for mortgages. If you are behind on your payments, you may qualify for a repayment plan that allows you to make your regularly scheduled loan payments, plus pay off a portion of the past-due amounts over time.

A reage program may be available for home equity lines of credit. With the successful remittance of approved repayment amounts, as well as meeting other specific conditions, a delinquent account may be returned to a current status without immediately collecting the total amount past due. As a result, the account will no longer be considered delinquent. If you are past due on your payments and are able to make your regular payments going forward, you may be eligible for this option.

If you are experiencing temporary financial hardship, you may be eligible for an extension. An extension may be avaiblable for mortgages and home equity loans. An extension is an agreement to pause a number of your loan payments for a period of time and add those payments to the back end of your loan, extending the length of your loan term. To be considered for an extension, you must be able to show that you can make future payments.

A loan modification may be available for mortgages, home equity loans, and home equity lines of credit if you are facing a long-term financial hardship. If you are unable to afford your current minimum payment but could pay a reduced amount each month, you may be eligible for a loan modification.

A short sale may be available for mortgages, home equity loans, and home equity lines of credit. If you want to sell your house, but it’s worth less than the amount remaining on the loan balance, a short sale may allow you to sell for less than the balance owed. However, you may be responsible for paying the difference between what the bank receives in the short sale and what you owe.

A deed in lieu may be available for mortgages, home equity loans, and home equity lines of credit. If you are not able to sell your house, you can choose to voluntarily transfer the ownership of your property in exchange for a release from your loan and payments. You may be responsible for paying the dfference between what the bank receives when it sells the property and what you owe.