A MESSAGE FOR MORTGAGE BORROWERS
Keystone Alliance Mortgage understands that the current health situation has created some difficult time and circumstances for mortgage borrowers. The COVID-19 emergency has caused a financial crisis for families and businesses that have had to shut down.
We want to help be a part of the solution and created this as a resource for you to assist you with whatever your particular circumstance may be.
Here are a few things you as a borrower should know:
- Homeowners who are adversely impacted by this national emergency may request mortgage assistance by contacting their mortgage service
- Foreclosure sales and evictions of borrowers are suspended for 60 days
- Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
- Credit bureau reporting of past-due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended
- Homeowners in a forbearance plan will not incur late fees
- After forbearance, a servicer must work with the borrower on a permanent plan to help maintain or reduce monthly payment amounts as necessary, including a loan modification
Fannie Mae also offers help navigating the broader financial effects of this national emergency to homeowners with a Fannie Mae-owned mortgage through its Disaster Response Network*, including:
- A needs assessment and personalized recovery plan
- Help requesting financial relief from insurance, servicers, and other sources
- Web resources and ongoing guidance from experienced disaster relief advisors
Fannie Mae COVID-19 Response Page
Freddie Mac COVID-19 Response Page
FHA Resource Center
For a list of HUD-approved housing counselors, visit: www.hud.gov or call 800-569-4287
Department of Veteran Affairs
Veterans who have questions regarding their home loans should contact VA’s home loan program toll free number, 877-827-3702, to speak with a Loan Technician.
The Consumer Finance Protection Bureau
The Consumer Finance Protection Bureau (CFPB) is committed to providing consumers with up-to-date information and resources to protect and manage their finances during this difficult time as the situation evolves.
Fannie Mae Disaster Response Network
Homeowners can find out if they have a Fannie Mae-owned mortgage and access to the Disaster Response Network
To contact Fannie Mae directly call: 1-800-2FANNIE or visit: www.knowyouroptions.com/
Scam Prevention and Assistance
If you feel like someone may be attempting to scam you or that you already may have been a victim you can contact Justice Disaster Fraud Hotline by calling: 866-720-5721
Talk To One Of Our Loan Officers
Schedule a time to discuss your mortgage options.
Keystone Alliance Mortgage was the absolute best to work with, hands down. I could not have done it without them. They literally answered every single question I had in such a timely manner with the best explanation!