Covid-19
Colina Mortgage is here to help.
Special Programs in Response to Covid-19
90-DAY GRACE PERIOD FOR ALL MORTGAGE PAYMENTS
If you are impacted by COVID-19, we will offer mortgage-payment forbearances of up to 90 days, which allow you to reduce or delay your monthly mortgage payment.
Click here to request forbearance and to describe the nature and date of your hardship and we will confirm approval of and terms of forbearance program.
RELIEF FROM FEES AND CHARGES FOR 90 DAYS
For at least 90 days, we will waive or refund mortgage-related late fees.
NO NEW FORECLOSURES FOR 60 DAYS
We will not start any foreclosure sales or evictions.
NO CREDIT SCORE CHANGES FOR ACCESSING RELIEF
If you are taking advantage of this COVID-19-related relief, late or missed payments will not be shared with credit reporting agencies.
Questions and Answers on Financial Relief
HOW DO I GET MORTGAGE RELIEF AND/OR FORBEARANCE?
You should contact and work directly with your mortgage servicer to learn about and apply for available relief. Please note we are experiencing high volumes of inquiries.
HOW LONG WILL THE FORBEARANCE LAST?
The terms of a forbearance will be agreed to between you and your mortgage servicer. We will confirm approval of and terms of the forbearance program.
WHAT EFFECT WILL THIS HAVE ON MY CREDIT REPORT?
We will not report derogatory information (e.g., late payments) to credit reporting agencies but may report a forbearance, which typically does not alone negatively affect a credit score.
HOW LONG WILL THESE PROGRAMS LAST?
It is still unclear how severe or how long the COVID-19 impacts will be. We have committed to necessary relief and will be assessing the ongoing conditions and necessity of continuing relief.
WHAT IF I ALREADY MADE A PAYMENT OR WAS HIT WITH A FEE BECAUSE OF COVID-19?
These measures go into effect as of March 28, 2020.
IS THE MORTGAGE RELIEF AVAILABLE TO BUSINESSES?
The relief is currently only available for residential mortgages.