COVID-19 - INHP - Indianapolis Neighborhood Housing Partnership

NAVIGATING HOMEOWNERSHIP THROUGH COVID-19

INHP has been a trusted homeownership resource for more than 30 years, and we are committed to maintaining our one-on-one support for current and future homeowners through these uncertain times.

En Español: Navegando propietario a través de COVID-19

INFORMATION FOR CURRENT MORTGAGE HOLDERS

We'll keep you informed as you focus on your health and safety. It's normal to be anxious. The most important step you can take to ease the stress of maintaining your mortgage payment is to be proactive. Click below for the most up-to-date advice and tools you should know about.

Last Updated: June 24, 2021

Before you miss a payment, call our Post Purchase Counseling department, which offers free one-on-one coaching to help you set up an emergency budget. Our HUD-certified housing counselor will help you manage your finances so you can continue to afford your home.

Contact: (317) 610-4640

If you are about to fall behind in your mortgage payment, contact INHP's Mortgage Servicing department immediately to share your situation and identify available forbearance options.

Contact: https://www.yourmortgageonline.com/ or (866) 679-5896

NOTE: Due to high call volumes, we recommend using the online portal to make your request first. This is the most expedient way to request assistance.

For INHP mortgagees in forbearance

If your INHP mortgage is currently in forbearance, you may be eligible for one of the two options listed below to resolve your delinquency and become current again on your mortgage. Call INHP to discuss which options may be available to you.

Contact: https://www.yourmortgageonline.com/ or (866) 679-5896

INHP Post Purchase Counselor: (317) 610-4640

PAYMENT DEFERRAL

Payment Deferral is a solution that brings your mortgage current, prevents foreclosure, and delays repayment of the mortgage payments you missed during your forbearance plan. If your hardship has been resolved and you are able to resume making your mortgage payments following your forbearance plan, a payment deferral may be the best option to immediately bring your mortgage current.

LOAN MODIFICATION

If your hardship has been resolved but you are not able to continue making your mortgage payments following your forbearance plan, you may be eligible for a loan modification that could lower your monthly mortgage payment. The loan modification changes the terms of the loan and targets lowering your monthly mortgage payment by extending the loan term. If you complete a loan modification, it will bring your loan current and prevent foreclosure.

For mortgage loan holders with another lender

Many lenders have specific resources available to their customers during difficult times. While programs may differ, here is what you should do now:

If you think you may fall behind on your payment, call your lender's mortgage servicing department to discuss your situation.
If you are unsure of who owns your mortgage, use this link to conduct an online search.
Refer to the Important Dates section of this webpage to understand the federal government's response to this national emergency.
Having a firm financial foundation is important to maintaining a budget during this time. To help sharpen your money management skills, take one of INHP's free online classes.
- Dollars & Sense
- Understanding Credit

FORBEARANCE

If you are considering asking for forbearance, remember it does not mean "forgiveness." You will be expected to pay back the original amount owed at some time.

Questions to ask your mortgage servicer

Mortgage servicer script

What happens after your forbearance period

If you have been approved for a forbearance plan related to COVID-19, you may have been given a 90-day term. Near the end of this term, your mortgage servicer will follow up with you to discuss your next steps toward repayment. If at the end of the 90 days you (as the borrower) are still affected by COVID-19 circumstances, forbearance may be extended. Your mortgage servicer and you must discuss any new terms.

Remember! You will be expected to pay any amount you may have postponed during forbearance. Forbearance does not mean forgiveness.

The federal government is encouraging mortgage servicers to understand each borrowers' situation and develop a mutually beneficial solution.

IMPORTANT DATES

October 3, 2021

FHA, Fannie Mae and Freddie Mac have suspended foreclosures and evictions for their portfolio of mortgage products until this date. This applies to INHP mortgage holders.

September 30, 2021

The federal government has given authority for lenders to enact special forbearance plans that may reduce or suspend your mortgage payment until this date. Call your mortgage servicer to learn if this may apply to you.

RESOURCES FOR MAINTAINING YOUR BUDGET

INFORMATION FOR CURRENT BUYERS AND RENTERS

FOR RENTERS

Indiana's eviction moratorium ended Aug. 14, 2020; however, there are options available if you need help paying your rent during this time. Remember! These programs have specific qualifications, so be sure to read and understand the application process.

RENTAL ASSISTANCE FOR MARION COUNTY RENTERS

OUTSIDE MARION COUNTY RENTAL ASSISTANCE

LEGAL ASSISTANCE FOR INDIANAPOLIS TENANTS

HANG IN THERE, INDY! WE'RE HERE TO HELP YOU STAY ON TRACK.

LEARN ABOUT INHP'S MISSION

TAKE AN ONLINE CLASS

Español

NAVIGATING HOMEOWNERSHIP THROUGH COVID-19

INHP has been a trusted homeownership resource for more than 30 years, and we are committed to maintaining our one-on-one support for current and future homeowners through these uncertain times.

Worried about how you are going to pay your mortgage?

Need help maintaining your household budget?

Are you a renter or future homebuyer looking for guidance?

INFORMATION FOR CURRENT MORTGAGE HOLDERS

We'll keep you informed as you focus on your health and safety. It's normal to be anxious. The most important step you can take to ease the stress of maintaining your mortgage payment is to be proactive. Click below for the most up-to-date advice and tools you should know about.

FORBEARANCE

If you are considering asking for forbearance, remember it does not mean "forgiveness." You will be expected to pay back the original amount owed at some time.

IMPORTANT DATES

October 3, 2021

September 30, 2021

RESOURCES FOR MAINTAINING YOUR BUDGET

MONEY MANAGEMENT PLAN

DOLLARS & SENSE CLASS

KEEP

HOUSING IS ONLY ONE PART OF YOUR BUDGET

INFORMATION FOR CURRENT BUYERS AND RENTERS

PREPARATION AND SUPPORT

SUCCESSFUL RENTING CLASS

HANG IN THERE, INDY! WE'RE HERE TO HELP YOU STAY ON TRACK.

Copyright 2023 by Indianapolis Neighborhood Housing Partnership

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