Suspend Your Mortgage During Unemployment
The Home Affordable Unemployment Program (HAUP) provides homeowners struggling to pay their mortgages due to unemployment with a forbearance plan, which is a temporary period of time during which your regular monthly mortgage payment is reduced or suspended. This government program may suspend your payments for 12 months or more.
Are You Eligible?
You may be eligible for HAUP if:
- The mortgage loan is secured by a one- to four-unit property, one unit of which is your principal residence.
- The mortgage loan is a first lien mortgage loan originated on or before January 1, 2009.
- The house is occupied as your primary residence.
- There is an unpaid principal balance of the mortgage loan that is equal to or less than:
- 1 Unit: $729,750
- 2 Units: $934,200
- 3 Units: $1,129,250
- 4 Units: $1,403,400
- The current unpaid principal balance of the mortgage loan is equal to or less than $729,750.
- The mortgage loan is delinquent, or default is reasonably foreseeable.
- The mortgage loan has not been previously modified under HAMP, and you have not previously received an HAUP forbearance period.
- Request that Bayview consider you for HAUP before three full mortgage payments are due and unpaid.
- Be unemployed when you request consideration for HAUP, and be able to document that you will receive unemployment benefits in the month of the forbearance period effective date.
In most cases, a Mortgage Assistance Application
may be the first step for Bayview to review your current financial situation when requesting help with your mortgage. Your Bayview representative will advise you if you need to complete this application.
Once you have completed the application, please use one of the five simple ways to return documents
For assistance completing the application, please use our Guide to the Mortgage Assistance Application
, or contact your Bayview representative.