Keep Your Home
Supporting You To Stay In Your Home
For Renters and Homeowners
If you’re experiencing financial hardship due to Covid19, we will support you as you navigate forbearance, repayments, loan modification, eviction, mobile home park lot rent, condo fees, electric or other utility disconnection, or a housing transition whether you rent or own your home. We’re a HUD-approved housing counseling agency. Our Housing Retention Program links you with our specialist to walk through the options available and the process of keeping your home.
Home matters. We are here to help. Contact Jeremy Paquette at jpaquette@homemattershere.org
You’ve worked hard for your home… now take steps to keep it.
We’re with you every step of the way.
What support will Windham & Windsor Housing Trust offer?
Our specialist will walk you through the process, one step at a time. We will:
- Help you understand options available
- Provide referrals to state and local resources
- Provide coaching and assistance with budgeting and money management
- Help you communicate with your mortgage servicer or landlord
Where Do I Start?
We want to offer you the best support we can. To do this we’ll ask you to do the following:
- Gather information relating to the payments you are behind on
- Gather income paperwork (paystubs, unemployment verification, 3Squares verification)
- Gather information about the financial hardship you are facing
Please, contact us as soon as you can: jpaquette@homemattershere.org (802)246-2116.
Mortgage forbearance during COVID-19: What to
know and what to do
Many homeowners are struggling to make mortgage payments as a result of the coronavirus pandemic. Here is information you can use, about your options and your rights.
If you are facing money struggles, you are not alone
Help is available.
The majority of homeowners are eligible for forbearance for a coronavirus-related financial hardship. HOWEVER some are not. If you have not been able to get a forbearance, contact us immediately. Forbearance is when your mortgage servicer or lender allows you to pause or reduce your mortgage payments for a limited time while you regain your financial footing.
Forbearance is not automatic. You must request it from your mortgage servicer. This might seem like a big step to take, but taking action now can help you pause your payments and avoid foreclosure.
Check out this page from the CFPB –
Forbearance ends with a payment plan, not a lump-sum payment
Homeowners who receive COVID hardship forbearance are not required to repay their paused payments in a lump sum once the forbearance period ends. You can talk with your mortgage servicer, or start with a HUD-approved housing counseling agency, to discuss a repayment plan that works for your situation.
Most servicers must offer forbearance, and the others can provide
options. The COVID hardship forbearance applies to all federally backed and federally sponsored mortgages, which includes HUD/FHA, VA, USDA, Fannie Mae, and Freddie Mac mortgage loans. This includes most mortgages.
Homeowners with federally backed loans have the right to ask for and receive a forbearance period for up to 180 days—which means you can pause or reduce your mortgage payments for up to six months. Additionally, you can request an extension of forbearance for up to 180 additional days, for a total of 360 days.
● If your mortgage is backed by Fannie Mae or Freddie Mac: You may request up to two additional three-month extensions, up to a maximum of 18 months of total forbearance. But to qualify, you must be in a COVID hardship forbearance plan as of February 28, 2021, so don’t delay contacting your servicer if you’re having trouble paying your mortgage and are not in a forbearance plan. https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/mortgage-forbearance-during-covid-1
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● If your mortgage is backed by HUD/FHA , USDA , or VA: You may request up to two additional three-month extensions, for up to a maximum of 18 months of total forbearance. But to qualify, you must have received your initial forbearance on or before June 30, 2020. Check with your servicer about the options available.
Other mortgages may also provide similar forbearance options. If you are struggling with payments, servicers are generally required to discuss relief options with you, whether or not your loan is federally backed. Getting through to your servicer could be easier than you think.
Take the next step! Contact us today.
For questions contact Jeremy Paquette at jpaquette@homemattershere.org or
(802) 246-2116.
Direct Mortgage Relief Funds
There is a program currently accepting applicatons in Vermont for homeowners who are experiencing financial hardship due to Covid. Click on the link to find application information.
Homowner Assistance Program
Where can I find more Covid related resources and programs?
For ongoing Covid related information including programs, resources, support organizations, and changes in protocols, visit our Covid Response Page.
211 Vermont is a freely available resource to all. You will always get a real person on the phone to help you through your questions and the website is an excellent source of information.