Homeowner Unemployment Resources


If you are an unemployed homeowner it's important that you contact your mortgage company to discuss a forbearance agreement or plan, and also partner with a HUD approved counselor.

A forbearance is not automatically granted, and the homeowner must submit their request to their mortgage company for approval. During the forbearance period the homeowner’s mortgage payment may be deferred, or a partial payment may be accepted, for a specified period of time during which they search for permanent employment. Interest is accrued during the forbearance period; however the foreclosure process could be postponed. Typically forbearances are granted for three (3) months and must be approved by the mortgage company.

While a forbearance may serve as a temporary solution, it may allow the homeowner to look for permanent employment to overcome their current financial situation, and is a far better option than possibly losing their home.

Upon completion of the forbearance agreement and if permanent employment is secured, a homeowner could be considered for a more permanent loss mitigation option such as a loan modification upon approval by their mortgage company.

Click here to learn more.

It’s also important to know that a homeowner’s unemployment insurance payments, if (9) nine months or greater, may be considered as income with appropriate documentation when considered for the Making Home Affordable Modification Program. Total Gross Monthly Income is one of the criteria used in qualifying homeowners for this modification program.

To contact your mortgage company, or a counselor, click here.
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