Homeseed is here for you during these uncertain times. We understand the challenges you and your family are going through, and our staff are committed more than ever to providing our communities with trusted financial expertise and an unwavering commitment to service.
We have compiled the following resources to provide you with relevant information and help you meet your financial needs during these times and beyond. If you have questions on the impact of COVID-19 (i.e. coronavirus) or how it may affect your mortgage, please contact our office today.
As social distancing measures take effect across the country, some borrowers may have questions about their ability to pay their mortgage. While options vary from state to state, many states have issued stay-home and other directives that may provide mortgage relief if you are experiencing financial difficulties due to COVID-19. Check the state government website in your state to see what options may be available or contact your local branch office.
Fannie Mae and Freddie Mac have also enacted a temporarily freeze on foreclosures and evictions that protects homeowners with enterprise-backed mortgages through mid-May, which you can learn more about here.
If you have questions about the mortgage assistance options in your state or would like to learn about other options for potentially lowering your payment, including refinancing, please contact us.
Social distancing has moved more business online, and we always takes protecting your personal data seriously. As your tried and trusted advisors you can count on us. The following are some steps you can also take to protect your information online:
Tips to Keep Your Information Secure
- In times of crisis, rates of fraud increase. Be extra vigilant when doing business online!
- Be alert to impersonators.
- Be aware of phishing emails. Double check the sender address of emails you receive from us. Hover over any links and verify they are legitimate before clicking.
- Be extra skeptical of emails regarding the COVID-19 pandemic or the government stimulus payments.
- Don't open files from unknown senders.
- Try not to log into your account on a public network, such as at an airport, hotel or coffee shop.
- Boost your password strength, and don’t use the same password for your other accounts.
- Send us your documents securely. We provide online portals for requesting/sending documents as well as encrypted email.
- Be aware of wire fraud scams – be extra skeptical of last-minute changes/requests regarding wiring instructions or bank accounts.
- Be alert to impersonators. Fraudsters have impersonated lenders/escrow/title/real estate agents through fake/compromised email accounts and even followed up with calls. When in doubt, pick up the phone and initiate the call using the contact info you should already have.
Lower Your Payment, Shorten Your Term & Cash-Out Options
In an effort to help the economy, in March the Fed cut rates to their lowest point since 2008. While mortgage rates are currently fluctuating partly due to a large increase in demand, this is still an excellent time to consider refinancing your home loan. Homeseed offers several options that could provide extra financial stability and maximize savings during these times, including potentially securing a lower rate, shortening your term, and cash-out options. Learn more about refinancing options or contact us to request a quote.