Mortgage financial hardship & mortgage payment assistance
Helpful information for borrowers impacted by recent economic challenges
We’re here for our borrowers impacted by economic hardship. Our team is available to assist you during your time of financial hardship. Call us at (800) 365-4884, Monday–Friday, 5 am-5 pm PT or email us at [email protected].
Learn more about financial hardship and mortgage assistance
Learn more about the steps you can take to get help if a financial hardship is impacting your ability to pay your mortgage payment by reviewing the following FAQ’s and additional information.
Mortgage Assistance FAQ’s
The sooner you contact us; the more options you may have available to you. Please contact us today (800) 365-4884, Monday–Friday, 5 am–5 pm PT, or you may email us at [email protected]. Additionally, you can apply online, by logging into your account at www.guildmortgage.com.
A change in circumstance from when your mortgage was originated that has caused you to fall behind on your payments or to be in imminent danger of falling behind on your payments. Investors may require you to provide proof of financial hardship in order to be evaluated for assistance. Allowable hardships may vary by investor. Please call us at 1-800-365-4884 or e-mail us at [email protected] for more information.
Forbearance: Allows temporary suspension or reduction of payments until the borrower can resume regular payments. Options vary by investor and usually involve a temporary hardship.
Repayment Plan: An agreement to reinstate a delinquent mortgage by including an additional amount with the normal monthly payment to cover past due payments.
Loan Modification: A written agreement that permanently changes one or more original loan terms, such as interest rate, loan term, or capitalization of delinquent amounts. Used when the borrower had a temporary financial hardship but can now meet modified payments.
Payment Deferral: Defers unpaid amounts once the hardship is resolved and the borrower can resume payments but cannot afford reinstatement or a repayment plan. Mortgage terms remain unchanged, and the deferred balance is non-interest bearing and due later. **May not be available for all investors.
Partial Claim: Funds are advanced to reinstate a delinquent loan, and the borrower executes a promissory note and subordinate mortgage for the amount. **May not be available for all investors.
Short Sale: Allows the sale of a property with written consent when net proceeds are less than total indebtedness. Requires a written offer at the current Fair Market Value (FMV).
Deed-in-Lieu: Allows a homeowner to voluntarily convey the property to avoid foreclosure and be released from mortgage obligations. Investors may require the property to be listed for sale for 90-120 days at the current Fair Market Value (FMV). **May not be available for all investors.
Once we have received all required items, the turnaround time on a decision is approximately 30 days. If we did not receive all required items, we will send a letter requesting the missing documentation and provide a deadline for receipt of the missing items. We cannot complete our evaluation until we receive all required items. Please call us at 1-800-365-4884 or email us at [email protected] to discuss options.
*Please note that some investors do not allow for review of a workout package if it is received within a few weeks of the scheduled foreclosure sale date.If you are not able to continue paying your mortgage, your best option may be to find more affordable housing. As alternative to foreclosure, the following options may be available (subject to qualification):
Standard Sale: Sell your home and use the proceed to pay-off the existing loan.
Short Sale: Settle the mortgage debt by selling your home even though the sale proceeds are less than the total indebtedness.
Deed-In-Lieu of Foreclosure: Voluntarily convey your property to the Servicer for a release of all obligations under the mortgage.
Additional Resources
Free assistance from HUD-approved housing counseling agencies is available to you. Housing counselors at non-profit or government agencies approved by the U.S. Department of Housing and Urban Development (HUD) are trained to help homeowners. Counselors can help you find the best option for your situation.
For help exploring your options, the Federal government provides contact information for housing counselors, which you can access by contacting HUD at www.hud.gov/findacounselor or by calling 1-800-569-4287 or TTY1-800-877-8339. You may also call Homeowner’s HOPETM Hotline at 1-888-995-HOPE (4673).
- Interest rate reduction to 6%, if applicable
- Borrowers are evaluated for mortgage assistance
- Foreclosure will not start while on active duty and/or during the post-deployment period