Home Loan Payment Assistance

• Missed payments are divided into manageable amounts and spread out over time.
• By catching up as soon as possible, you keep a temporary problem from having longer-term effects.
• It may be less damaging to your credit score than a foreclosure sale.

Important considerations:
During the repayment period, your payments may be much higher than your regular payment amount. We'll need to make sure your income can support those payments before starting your plan.
Permanent (long term) Hardship typically results in a loan modification. Here’s what you need to know about a loan modification and how it can help you get through a permanent (long term) hardship.

Temporary Hardship typically results in a forbearance or repayment plan. Here's what you need to know about both programs and how they help you get through a temporary hardship.

How does a forbearance work?
A forbearance plan reduces or suspends the amount of your regular home loan mortgage payment if a life event is expected to decrease your cash-on-hand soon. More often, it is used in times of temporary hardship, like unemployment.

How does this benefit you?
For a specific period, a forbearance plan can provide short-term home loan payment relief until you're in a better financial situation.

Important Considerations:

• You must contact us on a monthly basis to provide regular updates on your financial status.
• At the end of the forbearance period, the payment amounts that were suspended or reduced during the forbearance period accrue and are expected to be paid current. At that time, we'll work with you and review your financial situation to see if you're able to repay the forbearance amount, or if a long-term option like a loan modification is available to you.

Home preservation specialists are available Monday – Friday, 9 am to 5 pm CST.

Loans that are in forbearance with missed payments will NOT be reported to credit bureaus. Borrowers that do make their regular payments will be reported regularly.

• No. There should never be a fee to obtain assistance or information about foreclosure prevention options from your mortgage servicer.
• Never send a home loan payment to a company other than the one listed on your monthly mortgage statement.
• Beware of scams and anyone offering to help you for a fee.