Mortgage Relief Options

If you have fallen behind on your mortgage, Intercap Lending offers multiple solutions to help save your home. These programs are referred to as Loss Mitigation options. Below is a table explaining options that may be available to you. Please review your options below. You can always contact our customer service department to review further details.

Mortgage Relief Options

• ForbearanceWhat is a Forbearance Plan?Most homeowners can temporarily pause or reduce their mortgage payments if they're struggling financially. Forbearance is when Intercap Lending allows you to pause or reduce your mortgage payments for a limited time, while you build back your finances.
• Repayment PlansWhat is a Repayment Plan?A repayment plan allows you to spread out your past due amount –added on to your current mortgage payments over several months in order to bring your account current.
• Loan ModificationsWhat is a Loan Modification?A loan modification is a change to the original terms of your mortgage loan. Unlike a refinance, a loan modification doesn’t pay off your current mortgage and replace it with a new one. Instead, it directly changes the conditions of your loan. It is important to note that loan modifications may negatively impact your credit. Loan modifications should only be considered as a tool to get your mortgage back on track.
• Covid-19Options for borrowers affected by COVID-19If you have experienced financial problems directly related to the COIVD-19 pandemic, There may be options available to you for a COVID related Forbearance plan that can assist with a pause on the collection efforts on your loan.
• Payment DeferralWhat is Payment Deferral?Payment deferrals are available to certain borrowers who are exiting a COVID Forbearance program. A payment deferral allows you to place accumulated payments that have become delinquent to the end of your loan. This deferral amount will become due and payable at the time your loan is paid off. There is no interest accumulated and there is no additional payment required for the deferral portion.
• Partial ClaimWhat is a Partial Claim?Partial claims are available to certain borrowers who are exiting a COVID-19 forbearance plan. Partial Claims allow a borrower to place any amount that has become delinquent to a second mortgage note. This second mortgage note will be due to the agency that backs the loan. There is no monthly payment requirement on the partial claim balance. There is also no interest accumulated on the amount. The partial claim is due and payable to the agency who insures your mortgage loan in the event of a payoff.
• State Funded Assistance Programs
• Natural Disaster