Loan Forbearance

The Covid-19 Coronavirus has caused incredible strain on our world and likewise has affected the United States with unprecedented levels of health destabilization and economic disruption. LendUS is a family-owned mortgage company and our primary concern is that our co-workers, clients and the communities we serve stay well and safe.

It is easy to understand why people are confused about the mortgage relief programs available during this difficult time. There has been a lot of information, misinformation and news which should be clarified.

This webpage provides a summary of the COVID-19 Coronavirus related mortgage relief programs that are available to our Borrowers who are simply looking for information they can trust or have recently experienced a financial hardship due to the COVID-19 Coronavirus National Emergency

What mortgage relief programs are available?

Under a new federal law called the CARES Act, which stands for Coronavirus Aid, Relief, and Economic Security Act; homeowners with federally backed mortgages have been granted two protections stemming from the COVID-19 National Emergency:

  1. a 60-day foreclosure moratorium after March 18, 2020; and
  2. a right to forbearance for homeowners

For more information on the CARES Act please see this video from CFPB:

What exactly is a forbearance?

A forbearance allows for one or more periods of reduced or suspended payments. It is important for you to know that a forbearance does not erase the money you owe – you will have to repay missed or reduced payments at the conclusion of the forbearance period. Depending on the kind of loan you have, there may be different forbearance options and terms. If your mortgage is a federally insured or backed mortgage, you have a right to request a forbearance for up to 180 days. You also have the right to request one extension for another up to 180 days

Importantly, if you can make your monthly mortgage payments, you should continue to do so. It is the best way to maintain your credit profile, protect the equity in your home, and position yourself for potential savings opportunities.

Why were these programs created?

To assist homeowners experiencing financial hardship stemming from the COVID-19 pandemic.
Who is eligible for a forbearance?

  • Homeowners experiencing financial hardship due to the COVID-19 pandemic;
  • Homeowners with no other means to make the monthly mortgage payments;
  • Loans which are federally insured or backed (e.g., FHA, VA, USDA, Fannie Mae, Freddie Mac).

How do I determine if my mortgage is federally insured or backed?

You can check online to see if one of the mortgage agencies owns your mortgage:
Fannie Mae:
Freddie Mac:

The LendUS Servicing Customer Service Team will also be able to assist you in determining your eligibility.

What relief options are available if my mortgage is not federally insured or backed?

Even if you don’t have a federally backed mortgage, payment relief options may still be available. Contact the LendUS Servicing Customer Service Team at [email protected] for assistance.

Can I stop making payments on my mortgage?

You are contractually obligated to continue making your mortgage payments until a forbearance plan is offered by your servicer and you have accepted.

What happens when the forbearance plan ends?

Once the forbearance period has ended, the full amount of the suspended or reduced payments will be due and payable and the Borrower must resume making on-time mortgage payments.

How will my credit be affected?

For the first 60 days of your new loan, LendUS will not report on your mortgage to the credit reporting agencies. For Borrowers under an approved forbearance plan and is otherwise performing as agreed, the Borrower is not considered to be delinquent for purposes of credit reporting.

Will I be charged late fees or penalties?

Late fees will be waived during the forbearance period. You will also not be charged penalties or additional interest (beyond scheduled amounts).

Who should I contact about forbearance options?

  • If your loan along with servicing rights are sold and the servicing transfer process has already been completed, you must contact your new servicer listed on your servicing transfer notice.
  • If the servicing transfer process has not been completed and you have not received a servicing transfer notice, you must contact LendUS Servicing to request a forbearance during the interim servicing period. During interim servicing, LendUS will collect the first few mortgage payments before servicing is transferred to the permanent loan servicer. LendUS will follow the forbearance guidelines of the investor of your loan if a forbearance is requested during this “interim” servicing period.
  • If your loan is sold, but will continue to be serviced by LendUS, please contact LendUS Servicing to inquire about forbearance options.

How do I request a payment forbearance from LendUS?

Due to the high call volume that we are receiving in these difficult times, the best means of contact is to send an email with your name, phone number, and reason for the forbearance request to: [email protected].

You will be contacted by a member of our Customer Support Team in the order your request is received. You will be asked to provide details around your request, including why you’re unable to make your payment, whether the problem is temporary or permanent, details about your income, expenses and other assets, like cash in the bank, and whether you’re a service member with permanent change of status (PCS) orders.

Please keep up to date with LendUS by subscribing to our blog at and following us on Instagram, Facebook and Twitter.