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Freedom Mortgage is committed to doing all that we can to help customers affected by COVID-19 to stay in their homes. Learn more about managing mortgage payments through these difficult times.
Many people are confused about their mortgage payments during this time. If you can make your regular mortgage payments, we encourage you to continue. It’s the best way to protect the equity in your home and reduce any amount you may owe in the future. If the COVID-19 pandemic is impacting your ability to make your mortgage payments, Freedom Mortgage can help. Log into your Freedom Mortgage account or contact a Freedom Mortgage customer service representative at 855-690-5900 to learn more.
I have financial challenges due to COVID-19 impacting my ability to pay my mortgage. What relief options are available to me?
If you are facing financial challenges caused directly or indirectly by the COVID-19 pandemic and your mortgage loan is federally-backed by Fannie Mae, Freddie Mac, FHA (Federal Housing Administration), VA (Veterans Administration) or USDA (United States Department of Agriculture), relief is available under the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act allows you to request a forbearance of your mortgage payments for a period of time. We encourage you to request forbearance immediately if you are experiencing financial challenges due to COVID-19 and it’s impacting your ability to pay your mortgage loan.
If you request a COVID-19 Forbearance Plan, we will suspend your payments for an initial period of up to 180 days. You can also request an extension for up to an additional 180 days for a total period of 360 days. You can request a COVID-19 Forbearance Plan from your Freedom Mortgage online account by logging in, clicking on the banner at the top of the page and following the steps.
You can also request a COVID-19 Forbearance Plan by calling us at 855-690-5900. Over the phone, you can use our automated system by selecting from a menu of options or you can make your request by speaking with a Customer Care representative, Monday through Friday 8 AM-10 PM and Saturday, 9 AM-6 PM Eastern time. Customer Care representatives can also assist you if you are having trouble logging into your online account.
For additional information
Please watch the video published by the Consumer Financial Protection Bureau (CFPB) that explains forbearance as a way of addressing financial challenges due to COVID-19. Another helpful resource is the CFPB’s “Help for Homeowners and Renters” web page.
Freedom Mortgage Corporation is dedicated to providing our customers with information and resources related to the COVID-19 pandemic. One helpful resource is the Consumer Financial Protection Bureau (CFPB) site in preferred languages:
- Help for homeowners and renters during the coronavirus national emergency English
- Asistencia para propietarios e inquilinos durante la emergencia nacional del coronavirus Español
- 在新冠病毒疫情全國緊急情況期間向房主和租戶提供的幫助 中文
- Hỗ trợ chủ nhà và người thuê nhà trong tình trạng khẩn cấp quốc gia do đại dịch coronavirus Tiếng Việt
- 코로나바이러스 국가 비상사태에 집주인과 세입자를 위한 지원 서비스 한국어
- Pagtulong para sa mga may-ari ng tahanan at umuupa habang nagaganap ang pambayan na emergency sa coronavirus Tagalog
You can also find information by visiting our website at COVID-19 Alert Update or by calling our Customer Care Team at 855-690-5900 and following the prompts so we can direct you to the appropriate team member.
What's the best way to pay my mortgage?
If you would like to pay your mortgage or need general information, you can access your Freedom Mortgage online account at your convenience. From your online account you can update your profile, sign up for paperless billing, view statements, make one-time ACH payments and send secure messages. Please ensure that your profile is updated with your cell phone number and consent to receive messages, so we can reach you with important information if necessary. You can seek general information at freedommortgage.com or you can call our Customer Care Team at 855-690-5900.
My mortgage payment is due on the first of the month. How can I avoid a late fee?
Loans are not assessed a late fee until after the grace period expires, in accordance with applicable law and the terms of your loan. If your payment is due on the 1st of the month, you can make that payment up to 15 days after your due date without incurring a late fee. If you are not able to pay within the grace period and the delay is related to financial challenges caused by COVID-19, we recommend you learn more about protections available under the CARES Act on our COVID-19 Alert Update page.
How do I connect with a counselor who can help me explore my options?
You can connect with a housing counselor through Consumer Financial Protection Bureau’s Find a counselor tool to get a list of agencies approved by the Department of Housing and Urban Development.
You can also call the HOPE Hotline, open 24 hours a day, seven days a week, at (888) 995-HOPE (4673).
What should I do if I’m facing foreclosure?
If you’re facing foreclosure or have been served with legal papers, you should consult an attorney. You may be able to find legal assistance from a free legal aid program for your area.
What can I do to protect my home and my family from the COVID-19 pandemic?
For home safety tips go to the Centers for Disease Control website where they have advice on protecting your home and family from exposure of the COVID-19 pandemic.
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. Don’t be scammed. Learn what to look for and how to protect yourself. If you have any doubts about the legitimacy of a Freedom Mortgage communication, call 855-690-5900.
What should I do?
It's important for you to explore all your available homeownership protection solutions. Don't miss a mortgage payment without having a plan!
Call us: 855-690-5900.
At Freedom Mortgage we are committed to providing customers who need our help with the time and attention they deserve. Our business hours are Monday through Friday 8 AM to 10 PM, Saturday 9 AM to 6 PM Eastern time.
If you receive an email communication from us, complete the information requested as soon as possible. Your information will be reviewed by our specialists and someone will respond to you promptly. Our goal is to respond to each customer within 48 hours.
Many matters may be addressed by accessing your online account at freedommortgage.com. At freedommortgage.com you can view statements, sign up for paperless billing, view/send secure messages and make payments. This is a fast and efficient way to manage your account when it's convenient for you.
If you can afford to make your mortgage payment, we encourage you do so.
Call our Customer Care team
Our hours are Monday through Friday, 8 a.m. to 10 p.m., and Saturday, 9 a.m. to 6 p.m. EST.
Log into your Freedom Mortgage account
Log into your Freedom Mortgage account to see what types of Forbearance and other assistance programs may be available to you.
Freedom Mortgage is here to help you through this difficult period. Find out more about the payment relief programs we offer, as well as government and nonprofit programs that can help with financial and other assistance.
Mortgage relief offered by Freedom Mortgage
Forbearance
A COVID-19 Forbearance Plan suspends your mortgage payments while you work through your financial challenges. Forbearance does not mean your payments are forgiven or erased: you will have to catch up on any suspended payments in the future. To learn more about our COVID-19 Forbearance Plan, view our “Forbearance” FAQ’s section.
You may want to consider one or more of the following options at the end of your forbearance plan. Eligibility for these relief programs depends on the type of loan you have.
Reinstatement
Pay the total amount outstanding to bring the loan current.
Repayment plan
Pay your missed payments by adding an additional amount each month to your regular payment and paying back the amounts due over time. Most repayment plans are between three and 12 months.
Loan modification
Takes the amount past due and adds it to the principal balance of your loan. This action will increase your loan balance by the amount that is past due, but bring your payments up to date. Modifications may also provide for term extensions and/or rate changes to determine an affordable payment.
FHA partial claim
Places the payments that were suspended during your Forbearance Plan into a non-interest-bearing junior lien that is repaid when you refinance your mortgage or sell your home, or your mortgage otherwise terminates.
Fannie Mae and Freddie Mac payment deferment
Places the suspended payments at the end of the loan. The deferred amount is non-interest-bearing and would be due and payable at maturity of the loan, or earlier upon the sale or transfer of the property, refinance of the mortgage loan, or payoff of the interest-bearing unpaid principal balance.
USDA Mortgage Recovery Advance
Places the payments that were suspended during your Forbearance Plan into a non-interest-bearing junior lien that is repaid when you refinance your mortgage or sell your home, or your mortgage otherwise terminates.
If none of the above programs apply to you at the end of your government-mandated forbearance period, you may need to complete a loss mitigation application to be considered for other programs. If you’re in an active bankruptcy, we recommend that you speak with your bankruptcy attorney to see what programs may be available to you or have your bankruptcy attorney contact us to discuss available programs.
Refinancing
Some of the advantages of refinancing include potentially lowering your interest rate, lowering your monthly payments or overall savings throughout the life of your loan.
If you are thinking about refinancing while your loan is in forbearance, certain requirements will need to be met first. The requirements will depend on your loan type. We will work with you to explain those requirements and explore the best program available to you.
To learn more about the different types of refinancing options we offer, visit our “Refinancing” FAQ’s section.
Other organizations offering helpful services
United Way 211
211 is a free, confidential referral and information helpline and website that connects people of all ages and from all communities to the essential health and human services they need, 24 hours a day, seven days a week. A toll-free call to 211 connects you to a community resource specialist in your area who can put you in touch with local organizations that provide critical services that can help.
Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau has useful information for consumers related to COVID-19, including a guide to coronavirus mortgage relief options and a useful video that explains your rights to a COVID-19 Forbearance Plan.
Resources for rental property owners
If you're a landlord, here are links to organizations that may be able to help your tenants who have missed rent payments.
Other resources
Find COVID-19 Relief resources in your area
Need help with finances? Health services? Food? Legal assistance? SpringFour can connect you with all these and more.
Homeowner Assistance Fund
You may be eligible to receive funds under the Homeowner Assistance Fund (HAF) that was established by the U.S. Department of the Treasury in conjunction with state governments to provide assistance to borrowers who are delinquent in mortgage payments and certain other housing related expenses.
Although Freedom Mortgage is not affiliated with HAF and cannot guarantee that you will qualify for HAF assistance, we encourage you to review the program.
More resources available through Consumer Financial Protection Bureau.
United States Department of Housing and Urban Development (HUD)
HUD offers programs to help create strong, sustainable, inclusive communities and quality affordable homes for all.
Center for Disease Control (CDC)
The CDC provides information and guidance that can help you defend against the coronavirus disease and other dangerous health threats.
Legal Aid
Legal Aid offers assistance of counsel and legal advocacy for people of limited means in legal matters that fall outside of the criminal justice system.
United States Department of Veterans Affairs (VA)
The VA offers home loan programs to help veterans’ buy, build, or improve a home or refinance their current home loans, as well as other housing assistance programs.
National Council on Aging (NCOA)
The NCOA offers programs and guidance help improve physical health, wellness, as well as money management and financial planning for older Americans.
State-sponsored programs to protect homeowners
Freedom Mortgage complies with all federal and state laws and regulations that protect customers who experience financial challenges due to the COVID-19 pandemic. In additional, we adhere to the guidelines of the government sponsored investors and insurers whose loans we service.
Find a counselor
For help in exploring your available homeownership protection solutions, reach out to a housing counselor. Use the CFPB's "Find a Counselor" tool to get a list of counseling agencies approved by the Department of Housing and Urban Development (HUD). You can also call the HOPE™ Hotline, open 24 hours a day, seven days a week, at (888) 995-HOPE (4673).
Hardest Hit Fund
If you're a homeowner in a state included in the federal Hardest Hit Fund program, you may qualify for assistance through your state. For more information about the program in your state, check with your state's housing finance agency or the Hardest Hit Fund.
What does it mean to refinance my loan?
With a home refinance, you pay off your existing mortgage and replace it with a new mortgage that has a different interest rate and/or terms. You may refinance to save money on interest or reduce your monthly payments.
What are some of the benefits of refinancing?
Homeowners typically refinance their mortgages when current interest rates are significantly lower than the rate of their current loan. Refinancing may allow you to:
- Lower your monthly mortgage payments
- Unlock cash from your home equity
- Reduce the term of your loan
- Eliminate mortgage insurance
Does my loan qualify for refinancing?
Refinancing options are generally used by homeowners who have not fallen behind on their mortgage payments, and who meet certain other requirements, depending on their loan type. We will work with you to explain those requirements and to explore the best program available to you considering your circumstances.
The mortgage refinance rate we may be able to offer is affected by the type of refinancing you want, your credit score, your income and finances, as well as the current mortgage market environment.
Which type of refinance is right for me?
Our experienced loan advisors are available to help you decide which type of refinancing makes sense for you. Freedom Mortgage offers conventional, VA, FHA, and USDA refinance loans. Take a look at our loan comparisons below to learn more.
Call our Customer Care team
Our hours are Monday through Friday, 8 a.m. to 10 p.m., and Saturday, 9 a.m. to 6 p.m. EST.
Types of refinancing
Conventional
- All loans are eligible
- Full documentation is needed
- Minimum credit score is usually 620+
- Mortgage insurance required with home equity less than 20%
- Closing takes less than 60 days Learn More
Veterans Affairs
- Only VA loans are eligible
- Streamlined documentation
- Minimum credit score is usually 580+
- Mortgage insurance not required
- Closing takes less than 30 days Learn More
Federal Housing Administration
- Only FHA loans are eligible
- Streamlined documentation
- Minimum credit score is usually 540+
- Mortgage insurance required
- Closing takes less than 30 days Learn More
U.S. Department of Agriculture
- Only USDA loans are eligible
- Streamlined documentation
- Minimum credit score is usually 640+
- Mortgage insurance required
- Closing takes less than 30 days Learn More
What is COVID-19 forbearance?
A forbearance occurs when Freedom Mortgage (or another mortgage servicer) allows you to pause (suspend) or reduce your mortgage payments for a limited period of time for reasons such as financial challenges due to the coronavirus pandemic. If you are experiencing financial challenges due to COVID-19, you may request a COVID-19 Forbearance Plan.
During the forbearance period, monthly payments that are missed (suspended) will not be reported as “late” to the credit reporting agencies and you will not be penalized for missed payments or charged late fees for any payments included in the COVID-19 Forbearance Plan. If your loan is current at the time you enter a COVID-19 Forbearance Plan, each month you are in the COVID-19 Forbearance Plan we will report the status of your account to the credit reporting agencies as current. If you can bring the loan current during the COVID-19 Forbearance Plan, we will report the account as current.
Forbearance doesn't mean your payments are forgiven or erased. You will be required to repay any missed or reduced payments in the future. As the end of the forbearance period approaches, we will work with you to discuss the homeownership protection solutions available to you to repay the missed payments. You won't have to pay back the amount that was suspended all at once—although that option will be available to you.
During the forbearance period, you do not need to make mortgage payments, but you can make payments if you are able to do so. You may make payments online or by calling us at 855-690-5900. Your account will remain in forbearance even if payments are made. You may shorten or withdraw from your COVID-19 Forbearance Plan at any time.
If your financial situation changes during the term of your COVID-19 Forbearance Plan and you can resume monthly mortgage payments, please contact us. The fewer suspended payments, the less you will owe in the future.
Can my COVID-19 Forbearance Plan be extended for more than 12 months?
If you continue to experience financial challenges due to the COVID-19 pandemic after 12 months in forbearance, additional relief may be available to you depending on your circumstances and loan type.
If you are unsure of the type of loan you have you can call us at 855-690-5900.
Does my loan qualify for a COVID-19 Forbearance Plan?
All federally backed loans qualify for a COVID-19 Forbearance Plan. If you are unsure of the type of loan you have you can call us at 855-690-5900. Here are the facts for each type of federally backed loan we service:
Fannie Mae and Freddie Mac
If you have a Fannie Mae or Freddie Mac loan and you were active on a COVID-19 Forbearance Plan as of February 28, 2021, you can request up to two additional three-month extensions, provided the extension does not result in your loan exceeding 18 months of total delinquency or a cumulative COVID-19 Forbearance Plan term of 18 months, whichever is shorter. Each three-month extension must be individually requested.
FHA/HUD
If you have an FHA loan and you requested your initial COVID-19 Forbearance Plan on or before June 30, 2020, you can request up to two additional three-month extensions. Each three-month extension must be individually requested. If you requested your initial COVID-19 Forbearance Plan between July 1, 2020 and September 30, 2020, you may request up to one additional three-month extension. The COVID-19 Forbearance extension periods may not extend beyond December 31, 2021.
VA loans
If you have a VA loan and you requested your initial COVID-19 Forbearance Plan on or before June 30, 2020, you can request up to two additional three-month extensions. Each three-month extension must be individually requested. If you requested your initial COVID-19 Forbearance Plan between July 1, 2020 and September 30, 2020, you may request up to one additional three-month extension.
USDA loans
If you have a USDA loan and you requested your initial COVID-19 Forbearance Plan on or before June 30, 2020, you can request up to two additional three-month extensions. Each three-month extension must be individually requested. If you requested your initial COVID-19 Forbearance Plan between July 1, 2020 and September 30, 2020, you may request up to one additional three-month extension.
You can request a COVID-19 Forbearance Plan extension from your Freedom Mortgage online account by logging in, clicking on the banner at the top of the page, and following the steps. You can also request an extension by calling our Customer Care Team at 855-690-5900.
By phone, you will be able to request an extension of your forbearance through our automated system by selecting from a menu of options or you can elect to make the request by speaking with a Customer Care representative. A Customer Care representative can also assist you if you are having trouble logging into your online account. Our business hours are Monday through Friday 8am – 10pm, Saturday 9am – 6pm Eastern Time.
What if I have a loan that is not federally backed?
For loans we service that are not federally backed mortgages, we will offer the same forbearance programs as available to our customers with federally backed mortgages. When your COVID-19 forbearance plan ends, you will need to repay the suspended payments. Near the end of the COVID-19 forbearance plan, we will work with you and discuss a repayment plan and/or loan modification homeownership protection solution.
Call our Customer Care team
Our hours are Monday through Friday, 8 a.m. to 10 p.m., and Saturday, 9 a.m. to 6 p.m. EST.
Log into your Freedom Mortgage account
Log into your Freedom Mortgage account to see what types of Forbearance and other assistance programs may be available to you
How will my credit rating be impacted?
Monthly payments that are suspended during your COVID-19 Forbearance Plan will not be reported as late to the credit bureaus. If your loan is current at the time of entering into a COVID-19 Forbearance Plan, then each month you are in the plan we will report the status of the account to the credit reporting agencies as current. If you can bring the loan current during the COVID-19 Forbearance Plan, we will report the account as current.
Will there be any penalties or interest?
While your account is in a COVID-19 Forbearance Plan, you will not be charged any penalties, or any additional interest, or late fees. The normal interest on your loan will still apply.
May I still make payments if I can?
Under a COVID-19 Forbearance Plan, you don’t need to make mortgage payments, but you can choose to make full or partial payments. If you can make payments during a COVID-19 Forbearance Plan, it’s in your best interest to do so. The fewer missed payments, the less you will owe later. You can pay any amount online, by calling 855-690-5900, or by making the payment via the method you have used in the past.
Call our Customer Care team
Our hours are Monday through Friday, 8 a.m. to 10 p.m., and Saturday, 9 a.m. to 6 p.m. EST.
Log into your Freedom Mortgage account
Log into your Freedom Mortgage account to see what types of Forbearance and other assistance programs may be available to you
If my situation changes, can I cancel the Forbearance Plan?
You may shorten or withdraw from a COVID-19 Forbearance Plan at any time. If your financial situation changes during the term of your COVID-19 Forbearance Plan and you are ready to resume making regular payments, please contact us immediately. We can guide you through our post-forbearance homeownership protection solutions available to you based on your circumstances and your loan type.
At the end of my COVID-19 Forbearance Period how do I get my loan current? How do I repay my COVID-19 Forbearance Plan?
Near the end of your COVID-19 Forbearance Plan, we will contact you and work with you to help you determine the best homeownership protection solution that may be available to help you catch up on your mortgage payments. The programs available to you may vary based on your circumstances and your loan type.
The information below provides some of the programs that may be available to repay mortgage payments missed during forbearance based on loan type. If you are unsure of the type of loan you have you can call us at 855-690-5900.
FHA/HUD Loans
When your COVID-19 Forbearance Plan ends, you will need to make arrangements to repay the suspended payments. FHA has a suite of loss mitigation homeownership protection solutions such as a COVID-19 Standalone Partial Claim and a COVID-19 Loan Modification to assist customers in repaying payments that may have been missed under a COVID-19 Forbearance Plan.
For more information on FHA mortgages, please visit: answers@hud.gov or www.hud.gov.
VA Loans
When your COVID-19 Forbearance Plan ends, you will need to make arrangements to repay the suspended payments. The VA has a suite of loss mitigation homeownership protection solutions such as a repayment plan and a loan modification to assist customers in repaying payments that may have been missed under a COVID-19 Forbearance Plan.
For additional information, please visit VA.gov, where you can find a list of frequently asked CARES Act questions and answers.
Fannie Mae and Freddie Mac Loans
When your COVID-19 Forbearance Plan ends, you will need to make arrangements to repay the suspended payments. Fannie Mae and Freddie Mac have made available a suite of loss mitigation homeownership protection solutions such as a repayment plan, payment deferment and a loan modification to assist customers in repaying payments that may have been missed under a COVID-19 Forbearance Plan.
You can find additional information at www.fanniemae.com or at www.freddiemac.com.
USDA Loans
When your COVID-19 Forbearance Plan ends, you will need to make arrangements to repay the suspended payments. The USDA has a suite of loss mitigation homeownership protection solutions such as a repayment plan, a loan modification and a mortgage recovery advance (MRA) to assist customers in repaying payments that may have been missed under a COVID-19 Forbearance Plan.
Visit USDA Rural Development's coronavirus website for more information on Forbearance for USDA guaranteed loans, www.USDA.Gov.
All other loan types
Near the end of your Forbearance Plan, we will explain programs that may be available to you. Some of those options include:
- Reinstatement
- Repayment plan
- Loan modification
- FHA Partial Claim
- Fannie Mae and Freddie Mac Payment Deferment
- USDA Mortgage Recovery Advance
For more information about these programs, please visit the “Relief programs” section.
Freedom Mortgage will contact you near the end of your Forbearance Plan to work with you to find a solution. If we are not successful reaching you and you do not take any further action, we may not be able to help you catch up on your mortgage payments. So, please stay in touch and speak with us near the end of your forbearance period.
Call our Customer Care team
Our hours are Monday through Friday, 8 a.m. to 10 p.m., and Saturday, 9 a.m. to 6 p.m. EST.