Request forbearance or mortgage relief
Contact your servicer
For homeowners with mortgages covered by the CARES Act, you only need to explain that you have a pandemic-related financial hardship, directly or indirectly related to the pandemic. Even for those loans not covered under the CARES Act, mortgage servicers are generally required to discuss relief options with you.
Some federally backed mortgages have a February 28, 2021 deadline for requesting an initial forbearance. Homeowners facing financial hardships should ask for forbearance immediately, so they don’t lose that right.
Be prepared with the following questions you want to ask. Check your servicer's website before you call to see if there is a list provided of information you may need or if you can apply online.
Have your account number handy.
Ask these questions
- What options are available to help temporarily reduce or suspend my payments?
- Are there forbearance, loan modification, or other options applicable to my situation?
- When will you waive the late fees on my mortgage account?
- What should I do at the end of my forbearance period? When should I contact or expect to hear from my servicer prior to end the forbearance period?
- What are my payment options at the end of the forbearance period?
- If your loan is not federally backed or is not backed by Fannie Mae or Freddie Mac, ask: What restrictions and requirements will apply at the end of the forbearance period?
- Will interest be charged on my unpaid mortgage payments during forbearance?
- What are my rights if I disagree with your determination?
The Federal Housing Finance Agency (FHFA) has been working to provide translated mortgage resources to industry serving borrowers with limited English proficiency that may be facing difficulty paying their mortgage.
Get it in writing
Once you’re able to secure forbearance or another mortgage relief option, ask your servicer to provide written documentation that confirms the details of your forbearance agreement and that you’re clear on what the terms are.
How to submit a complaint
If you have a problem with a consumer financial product or service, you can try reaching out to the company first. Companies can usually answer questions unique to your situation and more specific to the products and services they offer. We can also help you connect with the company if you have a complaint. You can submit to the CFPB online or by calling (855) 411-2372.
What to do next
Once you receive mortgage relief, there are a number of things you should do to continue to protect yourself and to prepare for the expiration of your forbearance. See steps to take after you receive mortgage relief.