COVID-19 Resource Guide

During this very difficult time, we want to take the opportunity to update you on things we are doing to assist our customers who are experiencing a financial hardship caused by the COVID-19 pandemic.

What can I do about my mortgage payments?

In this time of uncertainty it is easy to understand the confusion going around about what to do with mortgage payments. We would like to clarify the following:

If you are able to make your mortgage payments, please do so.



Can 1st 2nd Mortgage relieve me of my payments until things settle?

1st 2nd Mortgage does not have the right to relieve you of your mortgage payment obligations without the approval of the federal agencies we work with closely. We are working closely with these agencies to understand what new programs they may offer for our customers who have lost income due to the COVID-19 pandemic.

We strongly recommend that its in the customers best interest to keep up with mortgage payments. Suspending mortgage payments temporarily also known as forbearance, should only be considered when all other options have been exhausted.

What is forbearance, and what are the benefits?
Forbearance is a temporary suspension of your mortgage payments. We will suspend your payments for up to 3 months. At THE END of the forbearance period, All OF YOUR DEFERRED PAYMENTS WILL STILL BE DUE.

The benefits of forbearance are:
1) temporary suspension of your payments. Which gives you time to improve your financial situation;
2) no negative impact to your credit score;
3) allows you to keep your home and avoid foreclosure.

*Forbearance does not mean your mortgage debt is forgiven. Payments that are deferred are still required to be paid after the forbearance period is over.

What should i do?
In this time of uncertainty, its very important to review all your options. Please call us at 800 562 6466. Our Servicing Department is ready to help you review all your options. Additionally, you can email us at

©2022 1st 2nd Mortgage Company of N.J., Inc.
Licensed by the NJ Department of Banking & Insurance and other states NMLS# 115981 / NMLS# 115981 as a residential mortgage lender.
We are located at: 50 Spring Street, Cresskill, NJ 07626
Toll Free: (800) 562-6466
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