- English
- Español
It takes a plan to exit mortgage forbearance. Find out about your options, get expert help, and find the right path for your situation.
Before your mortgage forbearance ends, you should contact your servicer to plan what comes next. They will work with you on ways to repay your forbearance.
If you are still concerned about losing your home, contact a HUD-approved housing counseling agency. They can help you figure out your options and guide you through the paperwork and process of working with your servicer. Find a housing counselor near you.
When you talk to your mortgage servicer, or a housing counselor, they might bring up the options below. Take a look at the descriptions and short explanations and think about your situation, so you can feel prepared for those conversations.
Options for repaying your paused or reduced payments
Situation: You can afford to pay more than your regular mortgage payment for a few months.
How it works: With a repayment plan, a portion of the amount you owe is added to the amount you pay each month.
Watch a video explaining this option
Situation: You can resume your regular payments but can't afford to increase your payments
How it works: With a deferral or partial claim, your missed payments move to the end of your loan, or the amount is put into a subordinate lien that you pay back only when you refinance, sell, or terminate your mortgage.
Watch a video explaining this option
Situation: You can no longer afford to make your regular mortgage payment
How it works: With a loan modification, your payment can be reduced to an affordable amount and all or some of your missed payments are added to the amount you owe. Your monthly payments could also be lower, but it could take longer to pay off your loan.
Watch a video explaining this option
Situation: You are ready to pay back all your missed payments at once
How it works: With a reinstatement or lump-sum payment, you pay back all the payments you missed during forbearance at once. For most government-backed loans, servicers cannot require you to pay a lump sum. So, if you only hear about a lump-sum repayment, ask about other options.
