If you’re experiencing income loss or financial hardship due to COVID-19, we are offering a forbearance option for qualified Figure Home Equity Line members. Read below to learn more.
Figure is offering forbearance for current Figure Home Equity Line members. We understand that members sometimes experience financial hardship resulting from job loss and unexpected expenses.
3-month payment forbearance term
At the end of the forbearance period, the loan will be reamortized across the remaining term, keeping the same maturity date. This means the total amount due at that time will be spread out evenly across the remaining number of months left on the loan. Interest will not be calculated on the interest that accrued during the forbearance period.
Payments optional during forbearance.
Additional draws will be suspended during the forbearance period.
Resuming payment after the forbearance
The first payment after forbearance will be due on the next contractual due date. Once the forbearance period ends, additional draws will continue to be suspended until 3 consecutive payments have been timely made.
To see if you’re qualified, review the following steps and submit the PDF form linked below.
Confirm that your loan is not 30 or more days past due, and you have paid any past due amounts prior to submitting this request.
Ensure you can demonstrate and attest to hardship. If you are not able to demonstrate a hardship, forbearance may be denied.
Download the “Loan Assistance Application” from the ‘Download PDF’ link. Fill out the required information and submit via email using the email address provided (email@example.com Opens a new window..)
Once the completed application is received by Figure’s Member Services, a Forbearance Agreement will be sent to you outlining the terms of your specific loan forbearance.
Our member services team is here to help you from Monday through Friday, 6am PT to 6pm PT.
Call us at 888-819-6388 Opens a new window.