Woman baking with little girl in the kitchen.

Protecting Your Mortgage in a Crisis

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 a pandemic when millions are out of work.

If you’re facing financial hardship and are worried about making your mortgage payments, it’s important to take action as soon as possible to protect and maintain your home investment.

Woman wearing glasses sits at a desk and thinks about something.
Woman wearing glasses sits at a desk and thinks about something.

The First Things to Do If You Can't Pay Your Mortgage

When it comes to homeowner fears, falling behind on mortgage payments is pretty high on the list.

We explain what to do if you’re worried about or already are falling behind on your mortgage payments.

Man and woman fill out paperwork at dining room table together.
Man and woman fill out paperwork at dining room table together.

Hardships Lingering? Here Are the Latest COVID Mortgage Relief Options

The frenzy of the pandemic may be winding down, but for millions of Americans, hardships linger in its wake. Many, for example, remain out of work and unable to pay their mortgage bills.

In recognition of these ongoing difficulties, the federal government announced additional mortgage relief programs to help homeowners avoid foreclosure.

 

Woman helps put pajama shirt on little boy.
Woman helps put pajama shirt on little boy.

Help With Your Mortgage During Times of Crisis

Financial setbacks can happen to anyone and for various reasons, such as illness, the death of a loved one, or a crisis like COVID-19.

Help with your mortgage through mortgage relief options (technically referred to as “loss mitigation”) is available to borrowers who are at risk of falling behind or need to catch up.

Dog looks out the window of house.
Dog looks out the window of house.

Who to Contact About Your Mortgage

Maybe you’ve had your mortgage for a while, or perhaps you don’t recognize the name of the company that sends your statements, so you’re not really sure who to call. Knowing who to contact about your mortgage is critical in times of financial hardship.

Our guide to figuring out who to contact about your mortgage can help you determine who owns your loan.

Family cuddles on the couch with their dog.
Family cuddles on the couch with their dog.

Mortgage Relief for FHA Loans

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

Find out more about this and other options from the FHA to help with your mortgage payments.

Woman sits at her kitchen counter and flips through a text book.
Woman sits at her kitchen counter and flips through a text book.

Loan Assistance for Veterans

The US Department of Veterans Affairs (VA) offers financial assistance to active duty service members, surviving spouses of deceased veterans, reservists, and National Guard members in response to COVID-19.

Learn about mortgage help for military veterans.

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The Lowdown on "Lump Sum" Payments

When your mortgage forbearance is ending, there are several ways to pay back your missed mortgage payments.

In some cases, the amount is due in a single “lump-sum” payment. This option isn’t too common these days, but it still helps to learn about it.

Man puts a book back on a bookshelf.
Man puts a book back on a bookshelf.

Will a Forbearance Impact My Credit Report?

Millions of homeowners requested a forbearance to pause their mortgage payments for a while as they navigated the financial difficulties of COVID-19. 

But many remain unsure – does a forbearance affect your credit score?

Pregnant woman sits at table and reads.
Pregnant woman sits at table and reads.

Trustworthy Help From a Housing Counselor

Understanding everything about a mortgage is confusing when things are fine. During a crisis like COVID-19, when you may need to make calls about it, are struggling to make your payments, and are generally fearful of losing your home, it all gets even tougher to make sense of.

Fortunately, free housing counselors are available to offer trusted and unbiased guidance, all over the country, and in multiple languages.

Man holds a baby at a picnic table in a backyard.
Man holds a baby at a picnic table in a backyard.

Be Aware, Homeowners: How to Spot a Mortgage Relief Scam

Scam artists are predators — always ready to pounce when we are the most vulnerable. They offer to help and then run off with your money. Rude!

Here’s how to spot a mortgage relief scam — and what to do about it.

Women prep food at a kitchen table.
Women prep food at a kitchen table.

Deferrals: Adding Missed Payments to the End of Your Mortgage

As of July 1, 2020, homeowners with mortgages backed by Freddie Mac and Fannie Mae have access to a mortgage payment “deferral.”

This is a form of mortgage assistance to help you get back on track after you received a forbearance.

Woman hands a blow-up beach ball to a toddler girl.
Woman hands a blow-up beach ball to a toddler girl.

My Mortgage Forbearance is Ending … What’s Next?

If you received a mortgage forbearance, you may be confused about what happens next.   

It’s good that you’re asking questions. Conversations with your mortgage company are coming up that you’ll want to prepare for.

We looked into the options to help you determine the best course of action after your forbearance ends.

Two men prep food at a kitchen island.
Two men prep food at a kitchen island.

Resources Directly From the Government

The government offers a slew of its own resources to help struggling homeowners.

Visit the Consumer Finance Protection Bureau (CFPB)’s hub for housing and mortgage assistance.