Protecting Your Mortgage in a Crisis

Facing financial hardship and worried about making your mortgage payments? You’re not alone, and you don’t need to wait to take action. There are preventative ways to proactively protect and maintain your home investment.



The first steps to take if you're worried about paying your mortgage

When it comes to homeowner fears, falling behind on mortgage payments is pretty high on the list. This is true under normal circumstances, let alone during COVID-19 when millions are out of work due to closures and quarantines.

We explain the first steps to take if you’re concerned about paying your mortgage in a crisis.

Mortgage relief options during times of crisis

Financial setbacks can happen to anyone for various reasons, including illness, the death of a loved one, or a crisis like the Coronavirus outbreak.

Mortgage relief options (technically referred to as “loss mitigation”) are available to help borrowers catch up on their mortgage payments or avoid falling behind in the first place.

dog looking out window of house

Who to contact about your mortgage

Maybe it’s been a while since you took out your loan, or perhaps you don’t recognize the name of the servicer that sends your statements, but knowing who to contact about your mortgage is crucial in times of financial hardship.

Our loan lookup guide can help you find out who owns your loan.

Family on couch with dog

Mortgage relief for FHA loans

Among its COVID-19 mortgage assistance options, the Federal Housing Authority is offering a program that puts your missed mortgage payments from a forbearance into a separate, interest-free loan.

See our breakdown of FHA COVID-19 mortgage relief options.

Loan assistance for veterans

The US Department of Veterans Affairs is offering financial assistance to active duty service members, surviving spouses of deceased veterans, reservists, and National Guard members.

If you’re struggling with mortgage bills in emergencies like the Coronavirus outbreak, there is help available for you.

Received a forbearance? What to know about "lump sum" payments

If you’re coming out of a forbearance, there are several ways to pay back your missed mortgage payments.

In some cases, the amount is due in a single “lump-sum” payment, but that method is less common during COVID-19.

How a forbearance can impact your credit score

More than 4 million homeowners requested a forbearance to pause their mortgage payments for at least a few months while they navigate financial hardship during COVID-19.

All the talk of forbearance is leaving a lingering question in homeowners’ minds: “Will a forbearance affect my credit score?


Finding help from a housing counselor

Turns out, finding an advocate to help you through a new process, but while there are plenty of food shows to help your amateur chef skills, knowing where to find support during the homebuying and owning process is not as common.

We have tips to find your Mary Berry in a housing counselor.

Resources available directly from the government

You can also find resources directly from the government.

The Consumer Finance Protection Bureau is offering a wealth of housing and mortgage assistance at the CFPB Coronavirus hub.