If you qualify for an extension to your existing forbearance, you may be able to pause your mortgage payments for additional time. Under the CARES Act, if your mortgage is a federally backed loan, you may qualify for up to two 180-day forbearances, with an extension of 6 months in two 3-month increments. After that period, we’ll work with you to reevaluate your situation and figure out what’s next. 

When you are ready to resume your payments, we will need you to complete an attestation to resume payments in writing.

What happens after a forbearance? At the end of your forbearance period, all payments not made during the forbearance period will have to be paid back. We realize this will probably be a big financial burden, which is why you’ll have a few options for how to handle it:

  • Pay it as a lump sum— If possible, the simplest option is to pay back the amount owed as a lump sum and pay off the amount you owe at one time.
  • Start a repayment plan— Over a set number of months, an extra amount will be added to your regular mortgage payment to cover the amount you owe from the forbearance.
  • Loan modification — If you are unable to pay a lump sum or enter into a repayment plan, we will work with you on a loan modification. This may include an extension at the end of your loan giving you additional months to pay the forbearance amount.
  • Partial claim — Depending on your loan type and mortgage insurer, you may qualify for a partial claim. This gives you the option to have your investor or mortgage insurance company advance the funds to bring your account current and place a lien against your home for that amount. The investor or insurer secures a partial claim through a 0% interest promissory note. This means that you have no interest payments but must pay off the partial claim when you sell or refinance your home. You can make payments toward a partial claim balance at any time without a prepayment penalty. This is NOT AVAILABLE for loans without mortgage insurance. 

Note:  Please sign the plan and return the plan to us. It’s the best way we can determine that you understand the forbearance process.

If you choose to complete this form, you do not need to call, email or provide any additional information at this time. If you would like to speak to a customer service representative, call 800-382-0017. Please be advised that call volumes have been much higher than normal due to the number of individuals that have been impacted.

STOP: Your current forbearance plan must be expiring in the next 30 days to be approved for an extension. Please do not apply for additional time before the month in which the plan ends. Refer to the forbearance approval letter that you received for the expiration date.