Mortgage financial hardship & mortgage payment assistance

Helpful information for borrowers impacted by recent economic challenges

We’re here for our borrowers impacted by economic hardship. Our team is available to assist you during your time of financial hardship.

Call us at (800) 365-4884, Monday–Friday, 5 am-5 pm PT or email us at [email protected].

Be cautious of unsolicited calls or texts

Scammers may use the shutdown as an opportunity to target homeowners. For your security, remember that Guild Mortgage will never ask for your full Social Security number, password, or wire instructions over email or text.

If you’re ever unsure, hang up and call us directly using the number listed on your mortgage statement or our official website.

Watch this video next:

video thumbnail for What is a Financial Hardship What is a Financial Hardship?

Mortgage Assistance FAQ’s

We’re here to help if you’re affected by the government shutdown

We understand this may be a stressful time for many of our customers impacted by the shutdown of the federal government. If you’re concerned about making your Guild Mortgage payment or need assistance understanding your options during this period, we’re here to help. Our servicing specialists can review your situation and discuss available hardship or temporary forbearance options.

Please call 1-800-365-4884 to discuss your account and available solutions.

If you’re currently applying for a new loan or refinance, your loan officer can also help you understand whether your application may be delayed due to reduced operations at certain federal agencies.

The sooner you contact us; the more options you may have available to you. Please contact us today (800) 365-4884, Monday–Friday, 5 am–5 pm PT, or you may email us at [email protected]. Additionally, you can apply online, by logging into your account at www.guildmortgage.com.

A change in circumstance from when your mortgage was originated that has caused you to fall behind on your payments or to be in imminent danger of falling behind on your payments. Investors may require you to provide proof of financial hardship in order to be evaluated for assistance. Allowable hardships may vary by investor. Please call us at 1-800-365-4884 or e-mail us at [email protected] for more information.

Forbearance: Allows temporary suspension or reduction of payments until the borrower can resume regular payments. Options vary by investor and usually involve a temporary hardship.

Repayment Plan: An agreement to reinstate a delinquent mortgage by including an additional amount with the normal monthly payment to cover past due payments.

Loan Modification: A written agreement that permanently changes one or more original loan terms, such as interest rate, loan term, or capitalization of delinquent amounts. Used when the borrower had a temporary financial hardship but can now meet modified payments.

Payment Deferral: Defers unpaid amounts once the hardship is resolved and the borrower can resume payments but cannot afford reinstatement or a repayment plan. Mortgage terms remain unchanged, and the deferred balance is non-interest bearing and due later. **May not be available for all investors.

Partial Claim: Funds are advanced to reinstate a delinquent loan, and the borrower executes a promissory note and subordinate mortgage for the amount. **May not be available for all investors.

Short Sale: Allows the sale of a property with written consent when net proceeds are less than total indebtedness. Requires a written offer at the current Fair Market Value (FMV).

Deed-in-Lieu: Allows a homeowner to voluntarily convey the property to avoid foreclosure and be released from mortgage obligations. Investors may require the property to be listed for sale for 90-120 days at the current Fair Market Value (FMV). **May not be available for all investors.

If your account is past due – our team will ask you to provide the reason your payments fell behind with every telephone call. We are required to report this information to your investor on a monthly basis but more importantly this will help us match the best possible workout solution with your current situation.

Once we have received all required items, the turnaround time on a decision is approximately 30 days. If we did not receive all required items, we will send a letter requesting the missing documentation and provide a deadline for receipt of the missing items. We cannot complete our evaluation until we receive all required items. Please call us at 1-800-365-4884 or email us at [email protected] to discuss options.

*Please note that some investors do not allow for review of a workout package if it is received within a few weeks of the scheduled foreclosure sale date.

If you are not able to continue paying your mortgage, your best option may be to find more affordable housing. As alternative to foreclosure, the following options may be available (subject to qualification):

Standard Sale: Sell your home and use the proceed to pay-off the existing loan.

Short Sale: Settle the mortgage debt by selling your home even though the sale proceeds are less than the total indebtedness.

Deed-In-Lieu of Foreclosure: Voluntarily convey your property to the Servicer for a release of all obligations under the mortgage.

Additional Resources

Free assistance from HUD-approved housing counseling agencies is available to you. Housing counselors at non-profit or government agencies approved by the U.S. Department of Housing and Urban Development (HUD) are trained to help homeowners. Counselors can help you find the best option for your situation.

For help exploring your options, the Federal government provides contact information for housing counselors, which you can access by contacting HUD at www.hud.gov/findacounselor or by calling 1-800-569-4287 or TTY1-800-877-8339. You may also call Homeowner’s HOPETM Hotline at 1-888-995-HOPE (4673).

The Service Members Civil Relief Act (SCRA) offers a wide range of protections for individuals, entering, called to active duty, or deployed service members. It is intended to postpone or suspend certain civil obligations to enable service members to devote full attention to duty and relieve stress on the family members of those deployed service members. The protections are unrelated to Veterans Affairs (VA) benefits. The main components for qualified service members include:
  • Interest rate reduction to 6%, if applicable
  • Borrowers are evaluated for mortgage assistance
  • Foreclosure will not start while on active duty and/or during the post-deployment period

One of the most troubling kinds of stories we’ve been hearing about recently involves borrowers in financial difficulties who have been led to believe that by paying consulting fees for help with renegotiating their loans, they can be “rescued” from foreclosure. Often, the fees can be very costly. In many cases, there is no guarantee of favorable results, so borrowers can be misdirected or harmed. In general, borrowers should work directly with lenders to find solutions. Lenders are motivated to arrive at solutions with their borrowers, and in nearly all cases, borrowers will be provided with the best possible options when they are communicating with their lender. Please be aware that Guild employees cannot accept any type of payment relating to the referral of any borrower to a third party for loan modification or foreclosure consulting services. Guild employees are also prohibited from performing these services on behalf of borrowers.

Attn Washington Residents: You may contact the Department of Financial Institutions, the Washington State Bar Association, or the statewide civil legal aid hotline for possible assistance and referrals. The referral number to the Washington State Foreclosure hotline is 1-877-894-HOME (4663), or for legal assistance through the Northwest Justice Project that services low income persons and persons age 60 and older please call 1-800-997-8944.

The Homeowner Assistance Fund (HAF) authorized by the American Rescue Plan Act, provides support to homeowners facing financial hardship associated with COVID-19. If you are experiencing a financial hardship, you may be eligible for mortgage assistance from your state’s housing finance agency or other state or local government agency. Funds from HAF may be used for assistance with mortgage payments, homeowner’s insurance, utility payments, and other specified purposes. You can see what options your state offers by vising the www.ncsha.org/homeowner-assistance-fund/.

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