Home loan forbearance is an option available on most home loans. A forbearance is a suspension, or pause, of your monthly payment for a limited period of time. The specific length of time will depend on your individual situation.
Repayment options following the forbearance may include a repayment plan to catch up gradually, deferring missed payments until your mortgage is paid off, or a permanent loan modification to maintain or reduce your monthly payment but which may extend the maturity date of your loan.
Before you decide to request a forbearance, there are a few more things you need to know:
- Under the CARES Act, if your loan was current when entering into forbearance, we will not report it as past due during the forbearance period, but your loan may show as past due in our online systems.
- We will waive late charges during the entire length of the forbearance. However, interest will continue to accrue on the unpaid balance.
- While we are committed to assessing every mortgage relief request, whether or not your loan is federally backed, eligible loans may be restricted due to investor or state requirements.
Please be aware that we are receiving a high volume of requests at this time and may take up to two business days to respond.
Request payment relief