State Home Mortgage Servicing: COVID Notice
The passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act stipulates that every borrower who attests that they have been directly or indirectly impacted by the COVID-19 pandemic, regardless of delinquency, is entitled to a forbearance plan.
What is a forbearance plan?
A forbearance plan provides a temporary suspension or reduction of your mortgage payments for a specific period during a temporary hardship, such as unemployment.
At the end of the forbearance, you will have three options to bring your account current:
- Pay the total amount due
- Enter into a verbal Informal Forbearance Agreement with SHM to bring your loan current, or
- Complete a full Loss Mitigation Package to be reviewed for options based on your income at that time.
If you have been impacted by COVID-19 and having difficulty with your mortgage payment:
- Please contact our office at 1-800-781-8346
- Select option #3 to speak to a Loan Servicing Representative
- Select option #1 to speak with a Default Representative to discuss your options
- We anticipate high call volume during this period. If your call is not answered, PLEASE leave a voicemail message. Someone on our staff will return your call within 48 business hours.