Servicer Contact Options
To Request a Forbearance
To Make Payment and Cancel Forbearance
If time is of the essence, it is best to make your payment and request forbearance cancellation through your online servicing account.
To set up an online account, visit https://aimloan.yourmortgageonline.com/registration
Or you may make your payment and cancel your forbearance over the phone by calling 1-800-701-4397, Monday-Friday, 7:30 a.m. to 5:30 p.m., Pacific Time.
From Servicer Website
Forbearance is intended for borrowers experiencing financial hardship resulting from COVID-19 which has impacted their ability to make their mortgage payment, such as unemployment, a reduction in work hours, or the illness of themselves or a family member. Borrowers experiencing such hardship are eligible for an initial 90-day forbearance.
Important to Know
- Forbearance does not forgive your payments. At the end of the forbearance period, you will need to bring the loan current or enter into a repayment plan or loan modification.
- Forbearance may impact your ability to obtain a new mortgage or refinance an existing mortgage. Your credit report will read “Loan in Forbearance” for the missed payments. If you still have stable income that can be documented, you may want to consider refinancing your remaining loan balance to lower your rate and payment, as an alternative to forbearance.
Frequently Asked Questions
What happens after the forbearance period ends? Our servicing department will contact you at least 30 days before your forbearance period ends. Borrowers with returned financial ability may pay the missed payments in a lump sum or enter into a repayment plan that will add an additional amount to their regular payment until the past due amount is paid. Borrowers with permanently impaired financial ability will be worked with to find the best solution, which could be a loan modification, a short sale, or a deed in lieu of foreclosure.
Can I add my skipped payments to the end of the loan? FHA and VA loans provide for this option. Conventional loans which are backed by Fannie Mae and Freddie Mac do not automatically default to this option. See previous FAQ.
How is my credit affected? Your credit report will indicate “Loan in Forbearance” on the missed payments. Your credit score will not be affected.
Will I have to pay late charges? No late charges will be charged during the forbearance period.
What if I have automatic payment drafting? Borrowers under forbearance will have their automatic payments suspended.
Is there a cost for this? There is no cost for the forbearance. Once the forbearance period is complete, if you are not able to reinstate the loan, there may be costs associated with a repayment plan or loan modification agreement.
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