Mortgage relief guide

Payment relief

Know what comes next.

If you’re moving forward with a loan modification or payment deferral, a member of our home preservation team will work closely with you to determine your next steps. If you apply for forbearance, your path is a little different.


During your forbearance term

We’ll check in with you.

While your account is in forbearance, you won’t have to make your monthly mortgage payments. Payments scheduled during this time won’t be reported as late or missed to credit agencies and won’t generate penalty fees. Your loan will be reported as being in forbearance. Creditors may consider this a risk if you are applying to purchase a new home or refinance in the future. 

During this time, it’s important that we keep in touch. We’ll want to know how your financial situation is changing so we can continue to find the best solutions for you. 


Get ahead of future payments.

We encourage you to make payments during your forbearance term if you can. It’ll help reduce your future repayment amount.

Currently, you can send us your payments by mail (please ensure to include your loan number):

Truist Bank
P.O. Box 79041
Baltimore, MD 21279-0041

The end of your forbearance term

Toward the end of your forbearance term, we’ll check in to see how you’re doing and help you decide on your next steps. Your path forward depends on a variety of factors, including who owns your loan, your financial situation, and the status of your loan when your forbearance started.

A few things for you to consider as your forbearance period draws to a close

  • How has my long-term employment status and income changed?
  • How has my household income changed?
  • Do I have to care for children or sick family members instead of working?
  • Has my financial situation improved enough to pay all of my skipped payments, or just enough to return to my regular payments?
  • Do I need to evaluate long-term mortgage changes?

Here are some of the paths available to you to exit forbearance. Keep in mind that you may qualify for several of these options, and some may require additional paperwork. See our FAQs for more detailed information. 

Lump Sum Repayment

What is it?

A one-time payment of the sum of all payments skipped during forbearance.

Who's it for?

If you’ve regained your income and your financial footing, this is the fastest way to put forbearance behind you without changing the terms of your loan.

What should I consider?

This option requires one large payment and then returns you to your previous mortgage payments. If you’re still struggling, or haven’t saved enough to make the full payment, this might not be your best option.

Forbearance Extension

What is it?

A continuation of your current forbearance for up to a total of 360 days or more—depending on who owns your loan.

Who's it for?

If you just need a few more months to get back on your feet, this option may be right for you.

What should I consider?

If you have a federally backed loan, requesting an extension up to a year in forbearance will be a simple process—you just have to contact us to request an extension with no documentation required. If your request is for an extension beyond 12 months (360 days), additional information or documentation may be required. If your loan is not federally backed, you may still have the option to extend, but you may need to submit additional paperwork, and it may be for a shorter period of time. Either way, you’ll still need to work with a member of our home preservation team to create a solution for repayment when the extended forbearance has ended.

Repayment Plan

What is it?

A plan that lets you repay the amount accrued in forbearance in smaller amounts over a set period of time, in addition to your regular monthly mortgage payments.


Who's it for?

Consider this option if you’ve recovered from a short-term hardship but are unable to do a lump-sum repayment. If you’re confident that you’ll be able to afford your regular monthly payment plus a little extra, this might be the plan for you.


What should I consider?

Your monthly mortgage payments will be higher than they were before you entered forbearance, and you may need to fill out some additional paperwork.

Payment Deferral

What is it?

A one-time payment of the total amount accrued during your forbearance at the end of your loan term.

Who's it for?

Consider a deferred payment option if you’ve recovered financially, but won’t be able to contribute any extra money to your mortgage right now. This allows you extra time to save for the payment at the end of your term.

What should I consider?

This option may require additional paperwork. It also creates a balloon payment—a single large payment due at the end of your loan term.

Loan Modification

What is it?

The restructure of your loan’s rate or term to give you a more affordable payment based on your new financial situation.

Who's it for?

If it looks like you’re going to be experiencing financial hardship for an extended period of time or can’t afford to resume your normal monthly payment, you may be able to modify your loan.

What should I consider?

Additional paperwork is usually required for a loan modification, and the options available will depend on criteria set by the owner of your loan and your loan status before starting forbearance.


Schedule an appointment with the home preservation team

You have a lot going on—so we’ll work on your schedule. You can now set an appointment to discuss your payment options with a member of our home preservation team towards the end of your forbearance.

Frequently asked questions

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All Truist clients are eligible for forbearance relief if you are experiencing financial hardships caused by COVID-19. You may get up to 6 months (180 days) of forbearance on your initial request.

If your mortgage is federally backed and eligible for forbearance relief under the CARES Act, you can extend your forbearance period for up to a year (360 days). For federally backed mortgages, you may also be eligible for additional forbearance extensions beyond 360 days or 12 months.

If your mortgage is not covered by the CARES Act, you may still be able to extend your forbearance, but additional documentation may be required.

The CARES Act generally provides forbearance relief for residential mortgages backed by the federal government, including mortgages owned by Freddie Mac and Fannie Mae, or insured by the U.S. Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture.

Some loans, such as those owned by Truist Bank or certain private investors, aren’t eligible under the CARES Act. However, these loans still qualify for relief options, including forbearance.

To find out who owns your loan, you can look it up online or give us a call. 

You can temporarily suspend your monthly mortgage payments for an initial period of 3 or 6 months (90 or 180 days) by applying for forbearance. Depending on your financial status and the type of mortgage you have, you may be eligible to have your payments suspended for up to a year (360 days) or more. You won’t be charged penalties or late fees, and your account won’t be reported as delinquent to credit agencies during your forbearance.

Outside of forbearance, you may also be eligible for other relief options, including a payment deferral or loan modification. Additional documentation may be required for applying for these alternative options.

It’s easy to request forbearance relief online. You may also be able to apply for a deferral online, if you qualify. You can apply here for Truist Mortgage Relief. You can also request mortgage relief by phone: (800) 443-1032

Please note that you might be on hold longer than usual because of high call volumes. We’re working hard to provide additional ways to process your request and get you the help you need.

As you approach the end of your initial forbearance period, we’ll reach out to you by email or phone to plan your next steps. This could be extending your forbearance, resuming your regular payments, or developing a new plan to repay the suspended monthly payments. Learn more about your options for repayment.

Forbearance is like a pause button. It lets you suspend your monthly mortgage payments for a specific amount of time without incurring any penalties or late fees—and without being reported as delinquent to the credit agencies. No paperwork is required for requests related to COVID-19.

At the end of your forbearance, you’ll work with a member of our home preservation team to develop a plan to repay the amounts that would have been due. Learn more about your options for repayment. From then on, you’d continue to make your normal monthly payment.

A loan modification restructures your existing loan’s rate or term to change your payments and help you retain your home despite financial difficulties. Modifications can include the repayment amount accrued during your forbearance period and may be paid over your remaining loan term or at maturity. There are different considerations and forms of loan modification, and every situation is different. Our home preservation team will help you navigate the different options and determine what’s best. 

A member of our home preservation team will help develop a plan that works best for you. Depending on your financial situation and type of loan, you’ll move forward with one of the following steps:

  • Extended forbearance – Continue suspending payments for up to 1 year (360 days) or more, depending on your type of loan
  • Lump sum repayment – Pay the sum of your suspended payments at once and resume the monthly payments you had before forbearance
  • Repayment plan – Pay the sum of your suspended payments in smaller amounts over a set period of time in addition to your regular monthly payments
  • Payment deferral– Resume your regular monthly payments and make the suspended payments at the end, maturity, or payoff of your loan
  • Modification – Restructure the term or rate of your loan to an affordable payment based on your new financial situation

Your financial situation is unique—and so is your mortgage solution. Our home preservation team will help you emerge from forbearance in the way that works best for you.

Note: Your available options will depend on criteria from your loan-holder and your account’s status when you entered forbearance. Our home preservation team will be in touch as you approach the end of your initial forbearance and will help you determine your best option. 

We won’t report your account as delinquent while you’re in a forbearance. However, we’ll report the entry into a forbearance plan to the credit reporting agencies.

If your account is current, we won’t report missed payments. If your account is delinquent prior to entering into forbearance, the delinquencies previously reported to the credit agencies will remain, but your account will be reported as current for the duration of your forbearance.

Creditors may consider forbearance to be an increased credit risk, which may impact your ability to obtain additional financing, such as a new home loan or refinance of an existing loan. Please check with your lender to see how forbearance might affect future financing.

Monitor your credit report regularly during your forbearance period to make sure that no late or missed payments are showing. You can access your credit report for free at the following sites:

Equifax COVID-19 Credit and Financial Resources Center

Experian COVID-19 Resources & Credit Education

TransUnion COVID-19 Support Center

Please contact us if you see your mortgage reported as delinquent while you’re under the forbearance agreement. 

If you’ve already missed payments, you can still get forbearance. The delinquencies previously reported to the credit agencies will remain, but your account will be reported as current for the duration of your forbearance.

You may also be eligible for loan modification or other relief options. You can expect to provide additional information and documentation when applying for other relief options. 

Yes. In fact, it’s encouraged. Making payments of any size while in forbearance will help you get back on track when you’re ready to end your forbearance.

Currently, you can send us your payments by mail (please ensure to include your loan number):

Truist Bank
P.O. Box 79041
Baltimore, MD 21279-0041

We’re working hard to provide you with more convenient options in the future. Check this page for updates as they become available.

If you’ve already applied for forbearance, we’ll email or call you to confirm your request. We’ll also send you the documentation detailing your forbearance plan, as well as your post-forbearance requirements. After receiving the confirmation, there’s nothing else you need to do. During the forbearance period, we’ll keep in touch to discuss your financial situation and options moving forward.

Should your situation change and you need to cancel forbearance, you can email:

If you still have concerns, we encourage you to reach out to our home preservation team for guidance. You can reach them at: 800-443-1032

Monday – Thursday, 8:00 am to 10:00 pm
Friday 8:00 am to 8:00 pm
Saturday, 9:00 am to 1:00 pm

  • Many states have established federally funded Homeowner Assistance Fund (HAF) programs created under the American Rescue Plan Act of 2021. Program terms and eligibility vary by state.  To determine if you may be eligible for HAF funds in your state, you must contact your state’s program. 
  • Most states have websites dedicated to their HAF programs and many allow applications online. The National Council of State Housing Agencies (NCSHA) has created a centralized resource with more information and links to each state’s program: .
  • Please note that Truist cannot determine eligibility for HAF and cannot accept applications for HAF funds. Clients must work with their respective state’s program.

Ready to request help?

If you’re ready to move forward, here’s how you can request financial relief from our team: 

Apply online to enter into forbearance due to COVID-19 hardship. You’ll also have the option to apply for a payment deferral if you qualify. 

If you apply for forbearance due to COVID-19 financial hardship, your forbearance will automatically begin once you submit your application, and you’ll receive confirmation by mail or email. For other mortgage relief options, make sure you follow the instructions that will be sent to you by mail or email.

To apply for other forms of mortgage relief, or to discuss your options, give us a call at:

Or, schedule a time for a member of our team to call you.

In-depth resources

Up next in the guide

Get even more information about forbearance, other financial relief options, and how to get back on track after a financial setback.