Freedom Mortgage FAQ

Updated: Apr 29, 2020

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, or call our Customer Service team at 855-690-5900 and follow the prompts so we can direct you to the appropriate team member. We will work with you to identify the option that works best for your situation. You may experience longer than usual hold times. We are handling unusually high call volumes as we are working hard to serve each customer's needs while also caring for the well-being of our associates.

The Consumer Financial Protection Bureau (CFPB) has provided information on the option of forbearance for mortgage holders that are impacted by COVID-19:

· Guide to coronavirus mortgage relief options.

Each situation is different, so it's important to talk to a Customer Service team member at 855-690-5900 to determine the right option for you. We will do our best to respond to your inquiry as quickly as possible.

What is COVID-19 forbearance?

COVID-19 forbearance is a temporary suspension of your mortgage payments, while you work through your short-term financial challenges. If forbearance is requested, we will suspend your payments for up to 180 days. During the forbearance period your credit will be protected and no late fees will be assessed. Once that time period has expired, we will work with you to reevaluate your situation to determine whether your forbearance can be continued. At the conclusion of the forbearance period, one of the following will occur:

· You can pay all missed payments and the delinquency will be resolved

· Depending on the type of loan you have, we may be able to add the payments to the end of your loan. Or, add the missed payments to your unpaid balance and your loan can be modified to bring your mortgage loan current.

Each loan may be slightly different depending on the investor that owns your government insured loan. The Consumer Financial Protection Bureau (CFPB) has a useful video that explains forbearance as it relates to the Federal CARES Act.

In my state, our governor announced programs to protect homeowners. Can you help me with that?

Freedom Mortgage is complying with the CARES Act and we continue to monitor all guidance from the government sponsored investors, government backed insurers and the various states to ensure sure we comply with the applicable requirements.

I received an email requesting my online account information email and password to verify that I am eligible for mortgage assistance during the COVID-19 pandemic. Did this come from you?

NO. Freedom Mortgage will never request your password under any circumstances. Criminals often attempt to run scams during crisis events like the COVID-19 pandemic. The Consumer Financial Protection Bureau has a comprehensive overview to help you avoid common scams.

Source: Freedom Mortgage.

#hardshipresource #mortgageprogramassistance #homeloanassistance #Icantpaymyhomeloan #gethelpnow #freeonlinecourse

0 views0 comments

Recent Posts

See All

Mortgage Relief Options and Protections

Relief for all federally or GSE-backed mortgages Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and guidance from federal agencies and the GSEs, there are two protections for ho

Early Impact on Credit

Great Blog post from the Consumer Financial Protection Bureau on the Impact to Consumer Credit FOR IMMEDIATE RELEASE: August 31, 2020 MEDIA CONTACT: Office of Communications Tel: (202) 435-7170 CONSUM

© 2020 by Hardship Resource. The Cofini Group LLC- 1-833-8-COFINI

Get Social

  • Grey Facebook Icon
  • Grey LinkedIn Icon
  • Grey YouTube Icon



The information provided by The Cofini Group LLC (“we,” “us” or “our”) on http://www.hardshipresource(the “Site”) is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site. UNDER NO CIRCUMSTANCE SHALL WE HAVE ANY LIABILITY TO YOU FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE SITE OR RELIANCE ON ANY INFORMATION PROVIDED ON THE SITE. YOUR USE OF THE SITE AND YOUR RELIANCE ON ANY INFORMATION ON THE SITE IS SOLELY AT YOUR OWN RISK.




The Site may contain (or you may be sent through the Site) links to other websites or content belonging to or originating from third parties or links to websites and features in banners or other advertising. Such external links are not investigated, monitored, or checked for accuracy, adequacy, validity, reliability, availability or completeness by us. WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR THE ACCURACY OR RELIABILITY OF ANY INFORMATION OFFERED BY THIRD-PARTY WEBSITES LINKED THROUGH THE SITE OR ANY WEBSITE OR FEATURE LINKED IN ANY BANNER OR OTHER ADVERTISING. WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.




The Site cannot and does not contain financial literacy advice. The financial literacy information is provided for general informational and educational purposes only and is not a substitute for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with the appropriate professionals. We do not provide any kind of financial literacy advice. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED ON THIS SITE IS SOLELY AT YOUR OWN RISK.




The Site may contain links to affiliate websites, and we receive an affiliate commission for any purchases made by you on the affiliate website using such links.