Getting started

Talk to us

Talk through your payment options with us, and we'll help find a solution that fits your needs. Call us at 1-844-576-5333. Demand for relief is high, so you may experience longer than average wait times.

Start a refinance

Submit an online application for a refinance or cash-out refinance. Or you can call 1-866-586-0619 to speak with a Home Point Loan Officer.

Request forbearance

You can apply online at http://my.hpfc.com/ by filling out a short form regarding your status, we may be able to enroll you online. 

COVID-19 Frequently Asked Questions

Could I be facing foreclosure right now? 

There is a nationwide moratorium on foreclosure and eviction activity for owner-occupied residences through at least May 17, 2020. Your state may have additional protections in place. 

Can I skip a mortgage payment because I have been financially affected by COVID-19?  

If you choose to skip a payment without making prior arrangements with your servicer, you will be considered past due and may be assessed late fees and your credit reporting may be negatively impacted.  

If you are unable to make payments as a result of COVID-19, you may be eligible for a forbearance plan that provides temporary payment relief. However, you will not automatically receive a forbearance plan. To initiate a request for a forbearance plan, you must complete the COVID-19 payment relief request form by logging in at my.hpfc.com.  

What special programs are in place and do I qualify? 

Home Point has different mortgage options available if you are experiencing hardship due to COVID-19. We will work with you to find the best option for your circumstance. 

Here is an overview of available mortgage options: 

  1. Refinance 
  1. Cash-out refinance 
  1. Forbearance 
  1. Short-term repayment plan 
  1. Streamlined loan modification 
  1. Standard loan modification 


It’s important to know that Home Point doesn’t own your loan, we are the servicer on your loan. This means we are responsible for collecting your payments, managing escrow accounts for property taxes and insurance, communicating loan information and doing what we can to ensure you can stay in your home. We want to work with you to the find the best solution for your circumstance. 
 

Please know that we are limited to offering the payment options set by the owners of your loan, which are the major mortgage investors, like Fannie Mae, Freddie Mac, and government agencies like the FHA, VA, and USDA. As this situation evolves, our team is working closely with them to recommend additional alternatives to help people experiencing financial hardship stay in the homes. 

What is a forbearance?  

Forbearance is an option that is available for borrowers experiencing temporary hardship. A forbearance plan is an agreement that allows customers to make reduced mortgage payments or no mortgage payment at all for a period of time, based on their ability to pay during the plan’s term. At the end of the plan, you will need to make up all the payments, either in one lump sum or by entering into a repayment plan that will temporarily increase your monthly payment.  

If you cannot afford to pay the entire lump sum at once and cannot afford a repayment plan, Home Point will attempt work with you to find other options that may be available. The availability of repayment plans and other options will depend on what your situation is at the end of the plan. 

Under a forbearance plan, you will not receive late fees and credit reporting will be temporarily suppressed during the plan’s term. Please note that during the term of your plan, you will continue to receive billing statements and other legally required notices. 

What is a deferment?  

A deferment allows you to move your loan payments to the end of the loan. Depending on the type of deferment, the missed loan payments could be added to the end of your loan as a lump sum or “balloon” payment, or the term of your loan could be extended by the number of payments you didn’t make. For example, if you were unable to make three payments, your loan term would be extended by three months.  

Other companies are offering deferments, why aren’t you? 

All payment options that we offer must follow the guidelines set by the owners of your loan, the major mortgage investors like Fannie Mae, Freddie Mac, and government guarantors like the FHA, VA, and USDA. Any company offering deferments most likely owns the mortgage loans in their portfolio. Companies that own their own loans represent a minority of the mortgage servicers in the United States. Like most mortgage servicers, Home Point can only offer options that are allowed by the investor on your mortgage loan. We are staying in close contact with investors and insurers and will update our programs if anything new develops.  

Please note that Fannie Mae and Freddie Mac have both announce programs that have deferment programs that will be available in the future. Each program has their own requirements, and neither are available prior to July 1, 2020. Until then, if you are experiencing a temporary hardship due to COVID-19, we are encouraging you complete the COVID-19 payment relief request form by logging in at my.hpfc.com. 

Who should consider forbearance? 

A forbearance plan may be a good option if you are facing financial hardship because of COVID-19 and are unable to afford your monthly mortgage payment.

What options are available within your forbearance plans? 

Home Point offers two and three-month forbearance options. If you need a longer option, there is an option to extend financial relief through an extended forbearance, loan modification, or a repayment plan. Longer initial plans are also available, but may not work best for your situation. 

What are the benefits of forbearance? 

Forbearance offers instant, temporary payment relief for borrowers without late fees or negative credit reporting.  

When should I not consider a forbearance plan? 

With forbearance, you will need to make up all your missed payments at the end of the forbearance period, and this may be difficult to do. Iyou are not facing financial hardship because of COVID-19 and do not have other pressing financial needs outside of your mortgage, you should continue to make regular mortgage payments. 

What documentation do I need to show that I am impacted financially by COVID-19? 

No documentation is necessary for us to review you for a forbearance plan. However, if you are still experiencing hardship at the end of the plan, we may require documentation to identify other options to help resolve your situation. 

How do I apply and set up my forbearance? 

By logging in to your Home Point account at my.hpfc.com and filling out a short form regarding your status, we may be able to enroll you online. 

What does a forbearance plan mean for me?  

Home Point will review your submission and, if you qualify, set you up on a two-month (60-day) or three-month (90 day) forbearance plan. If you think you need a longer term please refer to the guidance below. 

For example, if you are approved for three-month (90 day) forbearance plan and… 

 

  

Today is between the 1st and 15th  

Today is after the 15th  

You have made last month’s payment but not this month’s payment. 

Your plan will cover this month’s payment and the next two months of payments.  

Your plan will cover this month’s payment and the following three months of payments.  

You have made last month’s and this month’s payment. 

Your plan will cover the next two months of payments. You might want to wait! 

Your plan will cover the next three months of payments. 

You have not made either last month’s or this month’s mortgage payment. 

Your plan will cover last month, this month and the next two months of payments. 

Your plan will cover last month, this month and the next three months of payments. 

You have already made next month’s payment. 

If you are current and have already made next month’s payment as well, you likely are best suited to apply for the forbearance when your account is again due. This will ensure that we’re able to provide you with the best possible solution for your hardship.   

  

  

Will my autopay plan (ACH) be automatically suspended if I am approved for a forbearance? 

Yes, however please note we may be unable to suspend your autopay plan (ACH) payments scheduled to occur within 3 business days of any forbearance request. If you are on an autopay plan and you have an autopay payment that is scheduled to occur within this timeframe, the payment may still be withdrawn from your bank account and post to your account. All future autopay payments for the duration of the forbearance plan will be suspended. Your autopay payments will automatically resume, but only after you have paid the payments that were included in the forbearance plan, in addition to the current month’s payment that came due after the forbearance plan period. This means you will not have to set up the service again once you become current. This suspension only applies to autopay set up with Home Point. If you have set up online bill pay with your financial institution, you will still need to contact your financial institution to stop payments from being made. Home Point cannot do this for you. 

Will my taxes and insurance still get paid during the forbearance plan? 

If your tax and insurance payments are currently made by Home Point through your escrow account, we will continue making these payments during the forbearance period. 

I have read that I can have up to six months forbearance. Why does Home Point recommend a two-month or three-months forbearance and not something longer?  

At the end of any forbearance plan, the payments that were not made come due. Shorter forbearance plans limit the financial potential impacts you might face at the end of the term (see example below). It also allows us to more quickly assess your financial situation so we can identify other payment relief programs if your temporary hardship does not come to an end. If you believe you need longer than the initial three-month forbearance plan, you will need to call us rather than use the form available on the website. 

Can you give me an example of why a two-month plan is better than a three-month plan?  

It is important to remember that suspended payments are due at the end of the forbearance plan, and a shorter forbearance limits the financial burden you will face at the end of the term. It also makes a difference whether you enter a plan in a month that you paid your mortgage and whether it is before or after the courtesy period for late payments (usually the 15th of the month). 

To illustrate the difference between a two -month and three -month plan, here is an example using a homeowner with a $1,500 monthly mortgage payment that was unable to make their March payment due to COVID-19 hardship. The homeowner asked for and received a forbearance plan on March 15th 

 

  

Two Month Plan 

Three Month Plan 

Current Monthly Mortgage 

$1,500 

$1,500 

Total Amount Due at End of Plan 

$3,000 

$4,500 

Total Amount Due plus the amount of the Mortgage for the next month after the plan ends 

$4,500 

$6,000 

  

At this point, the customer has to make the entire payment, set up a repayment plan or look at other workout options. If you opt to set up a repayment plan, the maximum amount of repayment is 150% of your current monthly mortgage amount. 

  

Maximum Monthly Repayment Plan Amount 

$2,250 

$2,250 

Total Months to Get Back to Even 

4 

6 


Will my credit be affected? 

Home Point will suppress negative credit reporting to the credit reporting agencies throughout the duration of the plan.  

What happens to my credit if I extend my forbearance? 

If you need to extend your forbearance, please call us about two weeks before your forbearance is scheduled to end. We will continue to suppress negative reporting throughout the entire plan as long as you extend the plan prior to the initial plan being complete. If you allow your plan to end for a period and then decide you need more time, negative credit reporting may occur during that gap period. 

What happens if I need longer than my initial forbearance plan? 

If you find that your initial forbearance plan is not long enough, you can contact us at least two weeks before the end of your plan so that we can try to work with you on additional options. These options may include an extension to your forbearance plan, or evaluation for other options to resolve the outstanding amount. 

Could I face foreclosure during forbearance?  

No, once you are approved for a forbearance plan, foreclosure activity is put on hold, if applicable. Additionally, even if you are not approved for a forbearance plan or decide a forbearance plan is not right for you at this time, there is a nationwide moratorium on foreclosure and eviction activity for owner-occupied residences through at least May 17, 2020. Your state may have additional protections in place. 

Can I cancel or shorten my forbearance plan?  

Yes, you can cancel or shorten your plan by calling us. Your plan will end on the first of the month following completion of your request. You will then be due for the delayed payments, and your monthly required payments will resume. Keep in mind that late fees may be assessed, or your credit reporting may be negatively impacted, if you do not make your catch-up payments and resume making your normal monthly payment. 

I don’t want to use the mail to make my mortgage payment. How else can I make my mortgage payment? 

You can sign up for an account on our homeownership platform at my.hpfc.com. With your account, you can access your account information and use the following services: 

- Make your mortgage payment at any time 
- Access current loan information 24 hours a day 
- Request a mortgage account statement or loan documents 
- Update your profile information