Blog | Hardship Resource

May 6, 2020
3 min

#COVID19 Mortgage Myths! Missed Payments are not forgiven or waved

Mr. Cooper clears up the Mortgage Myths. Mr. Cooper like most of the major mortgage loan servicer's responded to the COVID19 stay at home crisis with the ability for a homeowner to put the payment of their monthly mortgage on pause until normal income returns. Mortgage Loan Servicer's cannot waive or forgive the payment owed as it is simply that, we owe any payments that were paused during this pandemic. Upon conclusion of this pandemic, Loan Servicer's will work with home

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Amy Sessner

May 3, 2020
4 min

Quicken Loan FAQ

Great resources for Quicken loans clients impacted by COVID19 on who should apply? What is a Forbearance? What happens when the Forbearance is over? Why Forbearance? FAQ: Quicken Loans® Clients And Mortgage Assistance During COVID-19 Resources For Quicken Loans Clients Impacted By COVID-19 If you’re worried about making your mortgage payments, here’s what you should know: · You can find resources online: You can begin the process online through Rocket Mortgage® by Quicken Loa

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Selling or Buying a home during the pandemic

Amy Sessner

May 1, 2020
1 min

Selling or Buying a home during the pandemic

Nerdwallet article says yes you can buy and sell a home with the following helpful tips Tips for buying or selling a home now: · Carefully consider whether you're financially and emotionally ready to buy a home and whether you need to move right now. It may be better to postpone if you're just toying with the idea or worried about losing your job. "It's a needs-based thought process," Jeanne Radsick President California Association of Realtor says. · Shop at least three lende

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When do I get my economic impact payment?

Amy Sessner

Apr 30, 2020
2 min

When do I get my economic impact payment?

Everyone needs this question answered if they have not yet received the economic impact payment directly deposited in their bank account. I was able to check the status of my payment by going directly to the IRS site "Get my Payment" and provide my bank account information for direct deposit. A few people have told me that they have logged onto the "Get my Payment" site and received the date in which the check will be mailed. Article from the The Consumer Financial Protecti

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COVID19 Q&A Penny Mac Loan Services, LLC

Amy Sessner

Apr 30, 2020
6 min

COVID19 Q&A Penny Mac Loan Services, LLC

From the Penny Mac Loan Services website. COVID19 mortgage assistance and links for their customers As COVID-19 (Coronavirus) continues to affect our country, your PennyMac family is here to support you. We recognize many of you have had long call wait times or have not yet had a chance to speak with one of our PennyMac team members. We encourage you to access the tools available to you online to get information quickly. At PennyMac, we’re committed to doing the right thing

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Why We cannot just be relieved of our payment responsibility.

Amy Sessner

Apr 28, 2020
4 min

Why We cannot just be relieved of our payment responsibility.

Freedom Mortgage provides a great explanation of why homeowners who have Federally Backed Mortgage Loans still have our payment obligations during this pandemic. A homeowner cannot be relieved of the obligation of making a payment. Under the CARES Act, Freedom Mortgage is offering forbearance. Please find additional information from Freedom Mortgage COVID19 Alert page. Why don't you just relieve me of my payment for a while? Freedom Mortgage does not have the right to reli

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Amy Sessner

Apr 28, 2020
2 min

Freedom Mortgage FAQ

Helpful questions and answers from Freedom Mortgage and COVID19 options COVID-19 Frequently Asked Questions Updated on April 16, 2020. Freedom Mortgage Loans Servicing Related COVID-19 Questions My income has been reduced because of COVID-19. What relief options are available to me? If you are facing a financial hardship caused by COVID-19, there are federal relief options available through the CARES Act. For updated information and guidance, go to the COVID-19 Alert Update,

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FAQ: Fannie Mae & Freddie Mac Assistance Options for Families Impacted by COVID19

Amy Sessner

Apr 28, 2020
3 min

FAQ: Fannie Mae & Freddie Mac Assistance Options for Families Impacted by COVID19

Thank you Freddie Mac & Fannie Mae for releasing the frequently asked questions. This applies to all loans that are Federally Backed, mortgages owned by Fannie Mae & Freddie Mac. What help is available for homeowners impacted by COVID-19? Homeowners unable to make their mortgage payments resulting from the impact of COVID-19 (regardless of whether they have contracted the virus) may be eligible for a mortgage forbearance plan to reduce or suspend their mortgage payments for u

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Fannie Mae & Freddie Mac (FHFA) Suspend Foreclosure & Evictions for Federally Backed Mortgages

Amy Sessner

Apr 28, 2020
1 min

Fannie Mae & Freddie Mac (FHFA) Suspend Foreclosure & Evictions for Federally Backed Mortgages

News Release from FHFA for Federally Backed Loans. Please see your servicer to confirm if you have a Federally Backed Loan or Non Federally Backed Loan to confirm if this applies to your Loan. FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages FOR IMMEDIATE RELEASE 3/18/2020 Washington, D.C. – Today, to help borrowers who are at risk of losing their home, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprise

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All you need to know about the CARES Act and Credit Reporting

Amy Sessner

Apr 27, 2020
2 min

All you need to know about the CARES Act and Credit Reporting

The CARES Act, which President Trump signed into law on March 27, 2020, Act amends the Fair Credit Reporting Act (FCRA) to stop adverse credit reporting during the COVID-19 crisis, but only under specific circumstances. If you can't pay all your bills on time contact your lenders for help and ask about hardship options as soon as possible—ideally before you miss a payment. Lenders are putting policies in place to help customers who may need extra time to pay their bills such

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#Free weekly on line credit reports through Annual Credit Report.com

Shelly Cofini

Apr 10, 2020
2 min

#Free weekly on line credit reports through Annual Credit Report.com

During COVID19 Experian, TransUnion and Equifax are offering free weekly on line credit reports through April 2021. It is so very important to remain on top of our finances and our credit. Check your credit. Make sure your credit reports are accurate to identify any potentially fraudulent activity and respond to it before it damages your credit. You should check your credit reports with all three credit bureaus (Experian, TransUnion and Equifax). Before the recent announceme

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Prioritizing your Bills. Which ones can be paid and what are my consequences?

Shelly Cofini

Apr 10, 2020
1 min

Prioritizing your Bills. Which ones can be paid and what are my consequences?

Fantastic on line resource from the Consumer Protection Bureau. The Bureau provides an on line worksheet to develop your short term plan where you can list your household bills; transportation, insurance, medical, housing and credit to prioritize what is essential to pay now. Short Term Plan Prioritizing bills When you can't pay all your bills on time, this tool can help you prioritize which bills to pay first and helps you think through the impact of your choices. Note: For

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How to Protect yourself financially during Covid19

Shelly Cofini

Apr 10, 2020
2 min

How to Protect yourself financially during Covid19

This is a great article from the Consumer Financial Protection Bureau providing step by step instructions and questions and answers when you cannot pay your monthly bills due to Covid19 including your Student Loans, Credit Cards and Auto Loans. HUD-Approved Housing Counselors. The U.S. Department of Housing and Urban Development (HUD)-approved housing counselors can discuss options with you if you’re having trouble paying your mortgage loan or reverse mortgage loan. This may

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Do you want to save money, savings tricks during COVID19

Shelly Cofini

Apr 10, 2020
2 min

Do you want to save money, savings tricks during COVID19

Let's get moving. Ways to save and make a little money during COVID19. Looking for new ideas for lunch or dinner or a way to keep yourself and family active. A few recommendations for you and your family during COVID19. Order In Restaurant Chains and local eateries are offering tremendous offers including daily specials and free meals for Children. On line delivery platforms such as Uber Eats and Door Dash are routinely offering to waive delivery fees and offer coupons to

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What if your plumbing goes out...How to handle day to day household needs during this pandemic

Shelly Cofini

Apr 10, 2020
1 min

What if your plumbing goes out...How to handle day to day household needs during this pandemic

Great Article from Home and Garden During this time we need to be vigilant and stay at home and take extra precautions. But what happens when our refrigerator goes out or we have an unexpected water leak. We may all experience a time when we need to invite a service repair person into our homes. We may also need assistance where we cannot complete a task and need someone to assist us. Take the necessary precautions and find out what safe service protocols are in place for t

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Hardship Resource

THE PATH TO GETTING BACK ON TRACK

#COVID19 Mortgage Myths! Missed Payments are not forgiven or waved

Quicken Loan FAQ

Selling or Buying a home during the pandemic

When do I get my economic impact payment?

COVID19 Q&A Penny Mac Loan Services, LLC

Why We cannot just be relieved of our payment responsibility.

Freedom Mortgage FAQ

FAQ: Fannie Mae & Freddie Mac Assistance Options for Families Impacted by COVID19

Fannie Mae & Freddie Mac (FHFA) Suspend Foreclosure & Evictions for Federally Backed Mortgages

All you need to know about the CARES Act and Credit Reporting

#Free weekly on line credit reports through Annual Credit Report.com

Prioritizing your Bills. Which ones can be paid and what are my consequences?

How to Protect yourself financially during Covid19

Do you want to save money, savings tricks during COVID19

What if your plumbing goes out...How to handle day to day household needs during this pandemic

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