Harvey Releif

At Cornerstone Home Lending, we are standing with you
to face the devastation of Hurricane Harvey.

We are prepared to take immediate action to help you while all the details of your financial impact and obligations are being sorted out.

Offer of Forbearance

If you have been directly impacted either due to property damage and/or financially from the recent disaster, you qualify for a forbearance of your monthly mortgage payments for a minimum of 3 months in order to recover from this difficult time. During the forbearance period, payments are not required. Also, credit reporting and late charges will be suppressed for the duration of the plan. Unpaid payments during the forbearance period will become due at the conclusion of the forbearance plan. However, towards the end of the plan period, your hardship and financial status will be reassessed to determine eligibility for further workout options, which may include an extension of the plan or a loan modification and may have additional eligibility requirements. You will receive a letter with the terms of the plan.

What you need to do

Call the Cornerstone customer service line at 866-861-2639.
Tell the representative that you have been directly impacted by Harvey and would like a temporary Forbearance Plan.
Return all the necessary paperwork as instructed by our Customer Service Agent.

What happens next

If you have a VA or Conventional Loan no further action is needed, your Forbearance Plan will be mailed to your address.
If you have an FHA loan, the Forbearance Plan will be mailed to your address. This must be returned within 15 days in order to activate the Forbearance Plan. Instructions on how to return the package will be included in the documents.

Insurance Claims

If you have damage to your property, contact your insurance provider as soon as possible.
They will schedule an appointment so they can assess the damage to the property.
Then they will notify you of the total amount of the claim and will provide information about funds they will provide you to repair the property.
Once you receive this information, please contact our loss draft department at 1 (866) 222-8118 to order a claims package or visit the website www.InsuranceClaimCheck.com/mortgage .
The checks that will be issued to you will be in the borrowers name and our name.

Frequently Asked Questions

Q Will my payments included in the forbearance plan be moved to the back of my loan?

A: “No, all payments included in the forbearance will be due at the end of the plan. However, you may also qualify for further workout options which may include an extension of the plan or a loan modification and may have additional eligibility requirements.”

Q: What is forbearance?

A: Forbearance is a temporary suspension of your monthly mortgage payment. During forbearance, your payments are suspended for a set period of time.

Q: How will a forbearance plan impact my loan?

A: A forbearance plan is a temporary suspension of your monthly mortgage payment. During the forbearance period, payments are not required. Also, credit reporting and late charges will be suppressed for the duration of the plan.

Q: Can forbearance be offered for longer than 3 months?

A: Towards the end of the plan period, your hardship and financial status will be reassessed to determine eligibility for further workout options which may include an extension of the plan or a loan modification and may have additional eligibility requirements.

Q: Will the mortgage company be sending any documentation to FEMA on my behalf?

A: You will need to contact FEMA directly to apply for disaster relief. If you have not already done so, please contact FEMA at 1-800-621-FEMA (3362), or visit FEMA online at DisasterAssistance.gov, to review assistance options that are available to you.

Q: What happens if I don’t have flood insurance?

A: If you do not have flood insurance, please contact FEMA at 1-800-621-FEMA (3362), or visit FEMA online at DisasterAssistance.gov, to review assistance options that are available to you.

Q: Why did I receive a billing statement if I’m on a forbearance plan?

A: We are required to send you a billing statement every 30 days. I can confirm that no late charges or adverse credit reporting will occur during the forbearance plan. However, please refer back to the letter outlining your forbearance terms.

Q: Why am I receiving documents/letters that indicate that I’m delinquent (HUD letters)?

A. We have to send certain letters to ensure compliance with your investor guidelines. I can confirm that no late charges or adverse credit reporting will occur during the forbearance plan. However, please refer back to the letter outlining your forbearance terms.

Q: How do I cancel the forbearance?

A: Contact Customer Service at 866-861-2639 to cancel the plan at anytime.