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A message from our CEO Sanjiv Das
Payment Assistance Frequently Asked Questions
What are My Options After Forbearance Ends?

Our commitment to you

We’re all living through challenges brought on by the COVID-19 pandemic. If you’re facing a financial hardship, Caliber 数字货币杠杆交易_数字货币周home Loans, Inc. ("Caliber") is here for you. We have options that can help you stay in your 数字货币杠杆交易_数字货币周home, giving you more time and breathing room to make your mortgage payments.

A broad definition of hardship

The difficulties caused by COVID-19 unfortunately come in many forms. They include illness, job loss, reduced hours, furloughs, business slowdowns, and the need to care for family members, among others. They can affect you individually or someone in your family. If you’re experiencing a financial hardship caused directly or indirectly by the COVID-19 pandemic, you’re eligible for assistance with your mortgage payments.

Ways we can support you

If you’re struggling to pay your mortgage, you’re not alone, and we can help.

Often, the first option is a plan to postpone payments for a set period of months to give you time and flexibility to recover from current financial challenges. This is called a forbearance plan.

Long-term options for assistance after a forbearance plan vary based on the type of loan you have and your financial situation. These options may include:

  • Repayment plans to gradually catch up on paying the postponed amounts
  • Deferral plans that keep the postponed payments suspended until you reach the end of your loan or sell your 数字货币杠杆交易_数字货币周home
  • Loan modification to make the terms of your loan more manageable

If you’d like to request a forbearance plan or get more information, call us at 800-401-6587.

We’ll help you understand your options and determine a path forward.

About forbearance plans

Understanding how they work

  • To request a forbearance plan, you’ll need to answer a few simple questions about how COVID-19 has created a financial hardship for you. No documentation is required if your loan is subject to the CARES Act, which applies to most loans. If you’re facing a financial hardship, we encourage you to request a forbearance plan as soon as possible.
  • Your payments are postponed for a set period of months as you manage financial hardships related to COVID-19. During this period, you’re not required to make payments. If your monthly payments are automatically deducted from your bank account, we will cancel the automated payments.
  • Importantly, the plan does not cancel or forgive any of your monthly payments. You’ll eventually be required to pay back the amounts that were postponed after your forbearance plan ends. If it’s not possible to pay the full amount due all at once, there may be other ways we can help, including extending the forbearance plan.
  • An initial forbearance plan typically covers a 3- or 6-month period. The CARES Act allows for an initial plan of up to 180 days and an extension of up to an additional 180 days, if needed.
  • While your plan is in effect, we won’t:
    • Charge any late fees, penalties, or additional interest
    • Report the postponed payments as late to the credit reporting agencies
    • Begin a foreclosure process (If you were already in a foreclosure process, we won’t move forward toward a foreclosure judgment or sale.)
  • If your financial situation improves, you may choose to make a full or partial payment during your forbearance plan. This will bring down the amount that you owe at the end of the plan. If your automatic payments have been stopped while your plan is in effect, you always have the option to make a payment by check, phone, or as a one-time online payment.

Preparing for the end of the forbearance plan

  • If you don’t think you’ll be ready to pay back the postponed payments and restart regular payments once your plan ends, it’s important to contact us before the plan end date. We’ll also send you reminders to get in touch and review potential options to:
    • Extend your forbearance plan if you need more time to recover from financial hardship
    • Enter into a repayment plan, deferral plan, or loan modification if you’re able to restart monthly payments but still need some form of assistance
  • If you’re ready to restart monthly payments and end your forbearance plan early, just let us know. Options to repay the postponed amounts over time or defer them may be available.

Factors to keep in mind

  • Loan status—During a forbearance plan, your account will technically be delinquent, although we will not report this to the credit reporting agencies. You may, however, receive delinquency notices if they’re required by your loan type or by law. You may want to save any delinquency notices for your records, but no other action is required while your plan is in effect.
  • Credit records—Although we won’t report your postponed payments as late to the credit reporting agencies, we can’t say whether entering into a forbearance plan will have any effect on your credit rating. It’s possible that the credit reporting agencies may consider the lack of reporting as an increased credit risk. Keep an eye on your credit report while the forbearance plan is in effect to note any changes.
  • Escrow—While your plan is in effect, you’re not required to make any payments, including the portion that’s set aside for escrow (if Caliber maintains an escrow account to pay your taxes and 数字货币杠杆交易_数字货币周homeowner’s insurance). That said, it’s possible that not making escrow payments could affect your next escrow analysis. If this causes an escrow shortfall, we may be able to help spread the catch-up payments over time.

How to get started

To request a forbearance plan or get more information, call us at 800-401-6587.

We’ll help you understand your options and determine a path forward.

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your COVID-19 Assistance Options

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My Payment Assistance (Forbearance) is Ending.
What are My Options?

Need More Time

Call us at 1-800-401-6587
and request a Forbearance extension

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Pay online at myaccount
or Call us at 1-800-401-6587

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Are there other options?

Yes. Depending on your situation, investor and loan type, there are additional options. Click HERE to learn more

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Resources for Assistance

At Caliber, we understand you may experience difficult times throughout your path to 数字货币杠杆交易_数字货币周homeownership.
We are committed to partnering with you during difficult times and have gathered resources for various assistance
options you may need on your journey.

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Financial Wellness

Consumer Financial Protection Bureau – Consumer Tools
Need help paying bills?
Practical money skills
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数字货币杠杆交易_数字货币周homeownership Resources

Know your options
My 数字货币杠杆交易_数字货币周home by Freddie Mac
数字货币杠杆交易_数字货币周homeowner Counseling Service
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Physical & Emotional Wellness

National Institute For Mental Health