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Defining Mortgage Relief: Let Us Help Avoid Confusion

This is the plan everyone is talking about since the passage of the CARES Act. It’s an agreement with your lender to reduce or delay regular payments for a set time. When the forbearance period ends, the postponed payments will be due all at once.

This is a legal process that alters the terms of your loan. For instance, a modification could lower your monthly payments by lengthening your loan term.

This is a plan that allows you to postpone your payments for a set time then pay them at the end of your regular loan term. “Deferments” and “forbearances” are often used interchangeably, but they are different. A deferment is more beneficial for many because it eliminates the need to make up multiple payments at the end of a short postponement period. Deferments are not available from all servicers.

Payment Assistance Program
This is an arrangement that allows you to make up your postponed payments at the end of a forbearance period by spreading the cost over a period of time. Payment Assistance Programs are not available from all servicers.

Cash Out Refi or Home Equity Line of Credit (HELOC)
If you still have enough income to qualify, accessing equity in your home by refinancing or obtaining a secured credit line may be a good option for lowering your payments, consolidating other debts, and/or creating a cash cushion. A refi will be especially beneficial if current rates are lower than those on your existing financing.

If you want to discuss your options for a refinance or HELOC, please contact us directly.

To set up the other options listed here, please reach out using the contact information on your monthly loan statement.
 Document all calls and agreements, then check your monthly statements and credit reports to assure that changes are reported correctly.

For more resources to help clear up confusion, click on the links below.

Mortgage-Relief_Skipped-Payments.png Forbearance.png
No Skipped Mortgage Payments.pdf Mortgage_Forbearance.pdf



Protecting our customers, as well as our employees, is a top priority at Access Capital Mortgage during the evolving coronavirus [COVID-19] situation.  As an operating division of a Federal Savings Bank, Access Capital is sound and secure. Our staff have been designated as essential critical infrastructure workers and will continue to provide the level of service and support you and your client(s) need during this difficult time.

We are here to help provide peace of mind about your home and mortgage. As such, we want to share some of the steps we are taking to continue operating safely and effectively during this time.

What We Are Doing

  • Monitoring.  We are closely monitoring all COVID-19 information provided by the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), as well as local authorities within the regions we operate. 
  • Safety. The health and well-being of our staff, clients and communities is our top priority. Many of our staff are currently working at home to help reinforce our social distancing practices.  Don’t worry though, our team is still available 24/7 to provide assistance and the personalized level of service you have come to count on.  
  • Support.  Every year we review and revise detailed business continuity plans to ensure we can continue to serve our customers and maintain our core operations across the markets we serve. Part of our business continuity plan already includes a flexible approach to manage through a pandemic and the needs of our employees and customers will be met without disruption.  
  • Communication.  We are in close, daily communication with our title and appraisal partners regarding best practices for health and safety, as well as their current plans for how they’re doing business.

What You Can Do

  • Stay in contact with our team. We are here to serve you during this time. From questions about your first mortgage payment to getting help with Loan Servicing, you can get in contact with us by clicking here.
  • Beware of scams. Criminals often take advantage of situations like these to impersonate companies, charities, or government agencies. Keep an eye out for suspicious emails, text messages, and/or phone calls. Please notify us immediately if you believe you’ve received a fraudulent request or email.

Currently in the loan process? Here’s how you can help

  • Be patient. The influx of demand is felt by service providers throughout the loan process, including appraisers, title agents, attorneys, loan processors, underwriters, county clerk’s offices, and more. It’s possible the process may take a little longer than normal.
  • Be aware. Lenders may act conservatively to protect your rate lock and the cost of possible extensions. Longer locks may carry a cost or marginally higher rate than you see in the news.

How can you avoid delays?

You’ve heard the real estate cliché about location, location, location? When getting a loan approved, think “documentation” instead!

Provide everything requested. Pay attention to the details. Respond to inquiries as quickly as possible. Keep your credit clean. Avoid job changes during the process.
Thank you for your patience and for giving us the opportunity to serve you as we all navigate this challenging time together. We’re here to assist you, answer any questions you may have, and help you find the right mortgage for your unique situation...