COVID-19 FORBEARANCE INQUIRY
Northpointe Bank is committed to helping struggling homeowners during this time in accordance with the federal CARES Act.
Things to know first
Relief options are only available for those homeowners that have experienced a financial hardship due to the COVID-19 pandemic. Qualified homeowners may defer payments for up to 180 days and may extend the forbearance period for an additional 180 days. However, payment forbearance does not erase what you owe – you are required to repay any missed payments at a future date. If your income is restored, resume making payments as soon as you can.
If you can pay your mortgage, pay your mortgage.
Due to higher call volumes, if you are not facing an immediate issue please review the information below and our FAQs for an additional resource.
If you cannot pay your mortgage or can only pay a portion, review the program information below to see if you qualify for payment relief.
Northpointe Bank is working hard to respond to all requests for payment assistance as quickly as possible. Our call volume is very high and we are experiencing much longer than normal wait times.
What options do I qualify for?
Northpointe Bank is the servicer of your loan. We may or may not own or be the investor of your loan. In order to qualify for a CARES Act forbearance, your home loan must be insured by FHA, guaranteed by VA or USDA, or be owned by Fannie Mae or Freddie Mac.
If you are eligible, CARES Act relief options include:
- You may delay making your mortgage payments during the forbearance period.
- You won’t incur fees or penalties such as late charges.
- You won’t have delinquencies reported to the credit reporting agencies.
- Foreclosure and other legal proceedings will be suspended.
If your loan is not eligible for relief under the federal CARES Act, options still may be available to you. Select LOOK UP LOAN TYPE to inquire.
If your loan includes an escrow account to pay mortgage insurance, homeowners insurance and/or property taxes, you may opt to make voluntary escrow payments to avoid an escrow deficiency prior to the next scheduled escrow analysis. Otherwise, you may be required to make up the deficiency in equal month payments over a twelve (12) month period.
What is payment forbearance?
Payment forbearance is a pause of your payments for a limited time. Forbearance does not erase what you owe – you are required to repay any missed payments at a future date. Depending on the type of loan you have there may or may not be different forbearance options available to you. Please review this video that explains forbearance as it relates to the Federal CARES Act.
What happens at the end of a forbearance period?
If you enter into a forbearance plan we will contact you approximately 30 days prior to the expiration of the plan to discuss your situation and provide information on options that may be available to you. Options to resolve your delinquency may include an extension of the forbearance plan, reinstatement, repayment plan, or loan modification.
How do I request payment assistance?
Select LOOK UP LOAN TYPE to determine next steps. We will process your inquiry in the order received. Due to the high volume of requests for information, we are doing our best to respond to your inquiry as quickly as possible. You only need to submit one inquiry to be placed in the queue. Calling or resubmitting will only create further delays. Thank you for your patience and we look forward to assisting you.