3 simple steps to getting help with your mortgage due to Covid-19

3 simple steps to getting help with your mortgage due to Covid-19A picture of a house with the words, "3 simple steps to getting help with your mortgage due to Covid-19"

If you have been laid off or financially affected by the Covid-19 pandemic, how do you make sure that you get what you are entitled to and ensure that your mortgage company does not cheat you?

There are 3 simple steps you can use:

  • Ask for help
  • Document proof
  • Take action

Ask for help

Call them. Go online and chat with your mortgage company. Send an email. Get in touch with them.

Tell your mortgage company that you need help.

Ask if they have forbearance, a loan modification, anything to help you.

Tell them about the situation that has prompted you to ask for help – a lost job, mounting medical expenses, etc. 

DO NOT say “I saw on CNN that you guys were…” or “I read a tweet that said…” 

It doesn’t matter what someone else said.

You must reach out directly to your mortgage company and talk to them about your own personal situation. We now have the CARES Act which is very powerful but you still have to ask for help specifically and protect yourself.

Document Proof

You must be able to document proof of what they told you and proof that you did what you agreed to do. 

If you’re talking to a representative at your company, and they tell you they will give you forbearance, 3 months, no late fees. Can you prove that this call happened? 

When you call in and receive the message that “All calls may be recorded” you should record the call for your own records as well. If you don’t know how to do this, then Google it.  Or check out our simple video here on recording calls

If it is an email, be sure to save the email. Print it to PDF. Save it to the cloud. Print out a physical copy. 

This way, if something happens to your computer you can still prove that you have done exactly what they told you to do. 

For instance, they say to send them an email requesting 3 months due to hardship. You send the email and they reply to let you know it was received. 

Save this proof. 

Take action

If they do not hold up their end of the deal, you do not want to be in a situation where all you have to rely on is your own recollection of events. 

If they have guaranteed to not report negatively, and 3 months later they do anyway, you have proof and are able to take action against them. 

This may mean disputing with the credit bureaus, writing a RESPA letter, request for information or notice of error letter to your company. Maybe it means suing your mortgage company.  You may want to check out our video on suing under the CARES Act.

Because you have proof, you have options. 

Do not rely on headlines and news articles for your information. Be sure to call your company directly to find out how the program applies to you. 

We hope this is helpful to you!

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If you live in Alabama and you have any questions, feel free to get in touch with us.

We would be glad to help you in any way we can.

You can reach us by phone at 1-205-879-2447, or you can fill out a contact form and we will get in touch with you quickly. 

Thanks for reading, and have a great day!

-John Watts

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