Servicer Contact Options
Loss Mitigation Department
5151 Corporate Drive
Troy, MI 48098
From Servicer Website
COVID-19 mortgage payment assistance is available.
Flagstar Bank is committed to helping you during this difficult time, and we are complying with the CARES Act, the stimulus package recently made law by the federal government on March 27.
If your ability to pay your mortgage has been impacted by COVID-19, Flagstar is offering eligible customers immediate relief by way of a six (6) month forbearance plan.
Customers who opt-into this plan will have at least 180 days of late fee waiver, and suspension of all negative credit reporting.
At the end of the forbearance period, there may be long term solutions available, including loan modifications that can extend the term of your loan and cure your past-due balance.
Think of the forbearance as a “time out” to give you a chance to deal with the disruption caused by this virus, and work to replace your income or employment. If you can still make payments you should, but there will be no late fees or credit impact if you don’t.
When you regain employment or replace your income, (whether that is during the six month forbearance period or thereafter), you will work with our COVID Relief Task Force to reset your loan to fit your new circumstances.
Options will vary by your loan type, owner, and how many payments are missed. If you are unable to repay your missed payments, your options will include things like extending your loan by adding the missed payments at the end of the term, dividing up the missed payments over the remaining term, or simply paying what has been missed to bring you current.
Other important things we are doing to help:
- Flagstar is waiving all late fees and pay-by-phone fees for all eligible COVID-19 impacted consumers for at least 180 days.
- Flagstar is offering all loss mitigation and other hardship solutions authorized by all investors/insurers (FNMA, FHLMC, HUD, USDA, VA). Further, Flagstar continues to monitor federal and state law for all mortgage relief authorized for COVID-19 impacted customers and will offer each solution authorized by law.
- Flagstar has suspended all foreclosure, eviction, and repossession activity until May 31, 2020, or longer if authorized by state law. Flagstar continues to monitor state and federal law for mortgage relief to consumers and will ensure strict adherence to all moratoriums.
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