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Talk with your mortgage lender or servicer to discuss your options and choose the best one for your situation. Mortgage forbearance gives borrowers experiencing financial hardship a temporary ...
Learn more: Repaying your mortgage after forbearance. If you need more help, connect with: Fannie Mae’s free disaster recovery counseling at 855-HERE2HELP (855-437-3243) ...
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Historically, forbearance has been granted for customers in temporary or short-term financial difficulty. If the borrower has more serious problems, e. g. the return to full mortgage payments in the long term does not appear sustainable, then forbearance is usually not a solution. Each lender is likely to have its own suite of forbearance products.
If you foresee being able to repay your current mortgage in the future, your servicer might offer you forbearance or another relief option instead. 2. Organize documentation proving financial hardship
With many mortgage lenders, you can apply for a mortgage online and complete the process in 45 minutes or less — if you have all of your information ready beforehand. That’s a big if, of course.
Suddenly out of work or making due with reduced paychecks, an estimated 4.1 million Americans have sought forbearance on their mortgage, according to data released Monday by the Mortgage Bankers ...
5. Pay your mortgage in person or by mail. If your mortgage servicer is local, the company might accept payments by check or money order in person. Money orders are secure payments since they do ...