COVID-19 Assistance

If you have been impacted by COVID-19, we understand that you may be having difficulty making your scheduled loan payments.

Our focus is to provide you with the highest level of service on your loan(s), allowing you more time to focus on the health and wellbeing of you and your family.

To help provide you with peace of mind during these unprecedented times, Rushmore is taking numerous steps. If you have already notified Rushmore that you have been impacted by COVID-19 and Rushmore has placed you on a forbearance plan, per the CARES Act, your loan will be reported to the credit bureaus as current during your forbearance period.

Payment Assistance

If you need assistance making your payments, we have options available, including forbearance.

A forbearance plan temporarily pauses or reduces your monthly payment; it does not mean your payments are forgiven or erased. You will not be assessed any late fees or be reported negatively to the credit bureaus. Once the forbearance plan period concludes, any paused payments will need to be repaid. At that time, we will work with you to find an appropriate repayment solution.

Under the CARES Act, homeowners with federally backed (FHA, VA, USDA) or Government Sponsored Enterprise (GSE, including Fannie Mae and Freddie Mac) mortgages may receive a forbearance period of up to 360 days, broken down into 180 day increments. Furthermore, these forbearance periods are allowed to be broken into shorter periods, and Rushmore is utilizing 90 day increments. If your hardship has not been resolved at the end of each 90-day forbearance period, an additional forbearance period of up to 90 days may be requested until a total of 360 days is reached.

While many of our borrowers have federally backed mortgages and are eligible for CARES Act relief, borrowers with loans owned by other institutions are eligible for other (and in most cases similar) assistance options. We can let you know what your options are once you complete the Assistance Form.

At the end of the forbearance period or at a point in which you are ready to resume monthly payments, Rushmore will work with you to identify the options available to address the payments that became due during the forbearance period. Available options could include a repayment plan, payment deferral, partial claim, or loan modification.

During this short-term relief period, you are encouraged to make any payments that you can. If your income is restored before the end of your forbearance, please contact us and resume making payments to limit future payments needing to be addressed at the end of the forbearance.

How to Apply

If you have been financially impacted by COVID-19 and are struggling to make your monthly payments, please complete the COVID-19 assistance form.

Once you complete the form, we will review your request for available options. We will respond to your request within a reasonable time frame. You do not need to provide any documentation at this time, though depending on your loan type and the assistance needed, we may request documentation at a later date to complete our review. If we need additional documentation we will notify you in writing and will also call and/or email you.

If you are experiencing a hardship NOT related to the COVID-19 pandemic, visit our mortgage assistance page to review all available workout options.

We appreciate your patience as we work to serve all customers impacted during this time.

Update Us — Additional Relief

If you were impacted by the COVID-19 pandemic, are currently enrolled in a pandemic forbearance assistance plan and are nearing the end of your current plan, additional assistance may be available. We would like to know more about your situation. Please complete the COVID-19 Assistance Update form to tell us more about your current financial status.

In addition to completing the online COVID-19 Assistance Update form we may need documentation to support your financial status. One document we may ask you to complete is a hardship letter which describes your continuing hardship and helps us understand why you are seeking additional assistance.

Once you complete the COVID-19 Assistance Update form, thereby updating us on your status, we will review the information provided and determine what options may best be suited to meet your current needs, as well as any documentation that may be needed to support your status. We will be in contact with you on next steps to pursue these options.

If you are experiencing a hardship NOT related to the COVID-19 pandemic, visit our mortgage assistance page to review all available workout options.