Quicken Loans Coronavirus Mortgage Forbearance Information

Servicer Contact Options

Phone: 888-452-8179

Online Portal: Apply for Forbearance
Website: rocketmortgage.com | COVID-19 Resource Guide
Additional Resources: COVID-19 Mortgage FAQs


From Servicer Website

What is forbearance?

Forbearance is an assistance program that pauses your mortgage payment. At the end of your forbearance plan, we can discuss options to help you become current or extend your forbearance. Your forbearance can last a total of 12 months. The payments paused during forbearance won’t be reported late to the credit bureaus.

When should I apply for a forbearance?

The right time to apply for forbearance is when you’re no longer able to make your mortgage payment. We recommend waiting until you can’t keep up with your current mortgage payment. That way, your forbearance will help you in the months you need it most.

Are there different assistance options depending on the type of loan I have?

No. Whether you have a conventional, FHA, VA or USDA loan, you’ll be eligible for a forbearance.

Will my credit be affected if I get a forbearance due to COVID-19?

If you get a forbearance because you’re impacted by COVID-19, we won’t report payments that are paused during forbearance as late.

What happens after the forbearance ends?

We’re here to help you figure out how to bring your loan current. Here are some options you might have:

  • With a repayment plan, we’ll add part of your past-due amount to your regular mortgage payment each month.
  • With a deferral or partial claim, we’ll set all or part of your past-due amount aside to be paid later. It will be due when you pay off your mortgage, sell your home or refinance. You won’t be charged any interest on the deferred balance.
  • With a loan modification, we’ll modify the terms of your existing loan to include your past-due payments.

You also have the option to pay the total past-due amount. This will bring your loan current right away.

If you extend your forbearance, you can still apply for these options to bring your loan current at a future date. Keep in mind, however, that you’ll have a larger amount you’ll need to bring current, which may make it harder to get caught up.

It’s also important to note that you have the option of paying whatever you can during the forbearance; this will make the amount you owe at the end of forbearance more manageable.

My forbearance is 3 months long. What if I need more time to catch up?

Under the CARES Act, which provides relief during COVID-19, you have a right to a forbearance that pauses your payments for up to 12 months total. Here’s how it works:

  • You start with a 3-month forbearance.
  • We’ll automatically extend your forbearance another 3 months if you can’t resume payments.

After you’ve used 6 months of forbearance, you can extend your forbearance again if you can’t resume payments. Just check-in from your RocketMortgage.com dashboard to let us know.

If you extend your forbearance, you can still apply for options to bring your loan current at a future date. Keep in mind, however, that you’ll have a larger amount you’ll need to bring current, which may make it harder to get caught up.

Are other servicers providing the same mortgage assistance options to clients impacted by COVID-19?

The words “forbearance” and “deferral” are often used interchangeably, so it may seem as if servicers are offering different types of mortgage assistance. In most cases, they’re actually offering the same investor-approved solutions.

The mortgages we service, like most in the U.S., are serviced on behalf of investors. We can only offer the assistance options they’ve approved.

We’re staying in close contact with investors, so if additional options become available, we’ll be sure to communicate those with you.

If you have forbearance questions and would like to speak to a certified housing counselor, please call the Hope Hotline at 995Hope.org

CLICK HERE for 995Hope.org

Please ask questions or report your experience with this servicer below. Your feedback will help other homeowners navigate homeownership preservation options. REMEMBER: Ask for everything in writing to protect yourself against surprises.

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