News

Important Information – FORBEARANCE VS. DEFERMENT

There is a ton of information in the news right now. Be informed and know the facts!

If you can, make your mortgage payment!

If you are still working, make your mortgage payment and inquire about refinancing to help improve your situation!

If you can adjust your budget to use your unemployment & stimulus funds, make your mortgage payment and inquire to refinance once you are back to work!

FORBEARANCE VS. DEFERMENT

FORBEARANCE: The definition of Forbearance is DELAY – NOT FORGIVE! Your servicer may let you make reduced or no payments for a short period of time, but your loan CONTINUES to gain interest!  The skipped payments are due IN FULL at the end of that short period or you may be hit with an increased payment amount each month to make up for the skipped payments. If you do end up going this route, make sure to account for this in your budget!

DEFERMENT: Lets you skip payments, and sometimes pause interest. With deferment, your payments will be tacked onto the end of your loan (extending your loan term).

CALCULATE HOW MUCH YOU COULD GET FROM THE CORONAVIRUS STIMULUS CHECKS

Coronavirus Stimulus Calculator

YOU CAN GET A BIGGER UNEMPLOYMENT CHECK, FOR A LONGER PERIOD OF TIME

Under the new stimulus package, workers will be paid an additional $600 per week on top of what they would normally receive for up to four months until July 31. The relief package will also allow workers to receive benefits for an additional 13 weeks, providing up to 39 weeks (or nearly 10 months) of financial assistance in total.

Self-employed, gig workers, independent contractors and freelancers are now eligible for unemployment benefits and can receive 50% of their state’s average benefits payout, plus $600 per week

How To File […]

Jetty Rock Foundation + Equity Prime NJ

From the Jetty Rock Foundation: We are thrilled to announce a wonderful new partnership with Equity Prime Mortgage & our Jetty Rock Foundation! Our hometown mortgage specialists will be donating $25 to our 501(C)3 nonprofit for every loan closed! We are dedicated to keeping the charitable component of our brand vibrant and it is like-minded businesses like Equity Prime Mortgage that allow us to do so! We’d also like to give a special shout out to Volatile Media Management who had the foresight and dedication to see this initiative through and make it a reality!

Direct Link to JRF Coverage

Equity Prime in the News!

Equity Prime Mortgage quoted in National Mortgage News from Mark Fogarty, “Six Strategies to Cope with Reg Crisis,” on March 3rd and will be appearing in Mortgage Servicing News in April.
Six Strategies to Cope with Reg Crisis

Equity Prime Mortgage quoted in Brad Finkelstein’s article “How the Industry Powered Through Winter Storms,” from National Mortgage News in March
How the Industry Powered Through Winter Storms

Equity Prime News Published in MReport

Equity Prime Increases Recruitment EffortsPrint Only

Equity Prime News Published in National Mortgage Professional

2013 Who’s Hiring Report: Featured ListingPrint Only

Equity Prime News Published in MReport

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Equity Prime News Published in The MReport

Hello, LO CompPrint Only

Equity Prime News Published in HousingWire

Selling ARMS in a fixed-rate worldPrint Only

Equity Prime News Published in Origination News

Joining Up or Opting OutPrint Only

Equity Prime News Published in Scostman Guide

Create a Business-Development NetworkClick Here to read the article!