Federal Employees and Contractors

If you are impacted by the federal government shutdown and need payment assistance, please contact Standard Mortgage.

Your loan may be eligible for forbearance. A forbearance plan is a temporary agreement that allows borrowers experiencing a temporary hardship to make a reduced mortgage payment or no mortgage payment at all during the plan’s term. We will not pursue foreclosure during the forbearance plan term.  However, the terms of your mortgage remain unchanged. By not making your mortgage payments during the plan’s term you will become more delinquent, and your credit score may be impacted.

A forbearance is not a deferment. Any payments missed during the forbearance plan will still be due, and will need to be resolved at the expiration of the plan. Options to resolve your delinquency may include a reinstatement, repayment plan, partial claim, payment deferral or loan modification (depending on the type of loan). If you enter into a forbearance plan, you must contact Standard Mortgage prior to the plan’s expiration to resolve any delinquency.