FAQ

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FAQ

Credit Counselors

Lenders

FREQUENTLY ASKED QUESTIONS

Q: Can you help me with my loan?

A: Yes, but only if we have acquired your loan from your lender. Unfortunately, we cannot change any of the terms unless we own the loan. If you received a letter from your servicer that says the Home Borrowers Relief Fund owns your loan, then we can help you. If you did not receive a letter from us we suggest that you call a qualified credit counselor to advise you on all of your options. Click here for a list of Housing and Urban Development credit counselors.

Q: I received a letter from the Home Borrowers Relief Fund. How do I know that working with you is my best option?

A: If you are unsure in any way about your options you should always ask for advice from a qualified credit counselor. While friends and family may have good ideas, always seek out professional advice. One place to start is the Department of Housing and Urban Development website of approved credit counselors.

Q: Will my mortgage payments increase in the future?

A: No. If the Home Borrowers Relief Fund has purchased your loan, the new, lower monthly payments will be fixed for the entire life of the loan. There are no resets or hidden payments.

Q: How can you lower my monthly payments?

A: We negotiated with the lender and bought your loan for less than the amount originally loaned to you. We pass this savings back to you in the form of a lower interest rate and payment.

Q: Will my monthly payment pay off the loan?

A: Yes! The monthly payments will fully pay off the loan. The goal of the Home Borrowers Relief Fund is to make sure that you build equity in your home by continually reducing the amount that you owe each month.

Q: Will you extend the term of the loan and increase the number of payments?

A: No. If you had a 30 year loan, the changes made by the Home Borrowers Relief Fund will not extend your loan beyond 30 years. We do not believe in 40 year loans. In rare cases where there were 10 or 20 year loans we may offer a 30 year payment plan to reduce your payments, but that would be completely your decision.

Q: Can the Home Borrowers Relief Fund refinance my mortgage?

A: No. We do not lend money and we do not refinance loans. There are many refinancing options available and we suggest that you contact a qualified credit counselor. Click here for a list of Housing and Urban Development credit counselors.

Q: Does the Home Borrowers Relief Fund lend money?

A: No. We are not a bank, a lender or a mortgage broker. We do not lend any money and we do not refinance loans.