If you use online banking through CAP COM FCU or First Source FCU, just click on your mortgage in your linked member account to access real time mortgage information through eStatus – no separate log in is necessary. If you need to register separately, click here to register for an eStatus account. You will just need your loan number and social security number to get started.
eStatus lets you manage your mortgage loan online—24 hours a day, 7 days a week.
Click here to access the “Forgot Password” link. You will be prompted to enter your username, loan number and social security number. You must then create a new password.
Click here to access the “Forgot Username” link. You will be asked to enter your loan number and social security number. You will be provided with your user name and prompted to create a new password.
Homeowners Advantage is required to provide you a statement each month, regardless of payment method. You can keep the statement for your records. If you do not want to receive the statement in the mail, you can enroll in electronic statements.
Once you are logged in to eStatus, Select Statements and Documents, click on “Manage Paperless Statements.” Next, read the disclosure and consent. You would then choose the “Electronic” option for statements and choose “Yes” for consent and hit “Submit” to record the changes.
You can enroll in Auto Pay for a one time or monthly recurring payment. Have your checking or savings account information ready when you begin. Click here to log in and initiate a payment.
The exact amount of your monthly mortgage payment (and, if requested, additional principal payments) will be electronically transferred to Homeowners Advantage by your financial institution.
Your ACH payment will be processed on the day you choose, provided it is a business day. If your ACH date falls on a weekend or holiday, your payment will be processed on the next business day. The funds will then be withdrawn from your financial institution on the following business day.
Like a paper check, your automatic withdrawal will be returned as non-sufficient funds. Your payment will not be reprocessed, you must make up the payment that was returned by mailing in a check or contacting the Mortgage Servicing team to make arrangements for the payment.
If you are a borrower, you may click here and select “Payoff Request." You may also request a payoff by contacting our Mortgage Servicing Team at (877) 266-7722 extension 3123 or send a written request to:
Attention: Servicing Department
4 Winners Circle
Albany, NY 12205
Or email us at firstname.lastname@example.org. Please include in your payoff request your loan number, name and estimated payoff date. If you would like the payoff statement faxed, please also include your fax number.
If payments were posted to or removed from the account after the payoff statement was ordered, the amount due will change. If payoff funds are received after the date the payoff statement expires, the interest amount due will be different. You should contact our Mortgage Servicing Team at (877) 266-7722 on the day of closing to verify the payoff figures.
Any funds remaining in your escrow account will be refunded to you by check.
A certified check, cashier’s check, attorney IOLA check, or wire are the only acceptable forms of payment for paying off a loan. Personal checks are not acceptable. When the payoff funds are sent, please include your name, loan number and a copy of the Payoff Statement.
Your Payoff Statement will include instructions for remitting the necessary funds to pay your loan in full. Before paying off your loan, it is important that you call our Loan Mortgage Servicing Team at (877) 266-7722 to confirm the funds necessary to pay your loan in full.
Please overnight the payoff funds to:
Attention: Mortgage Servicing Department
4 Winners Circle
Albany, NY 12205
Once an account is paid in full and a refund is due, it takes approximately 15 business days to process the refund check. It will be mailed back to the member(s) on the account. Please make sure if the mailing address has changed to notify the servicing department of the new address to avoid any delays.
Homeowners Advantage charges a $30.00 returned check charge.
Homeowners Advantage assesses a $30.00 returned check charge for all checks returned for non-payment. In addition to the fee Homeowners Advantage does not redeposit NSF checks. You will need to mail Homeowners Advantage replacement check.
Homeowners Advantage mails the IRS form 1098 and, if applicable, form 1099 to all members no later than January 31. You can also to access this information. Log in and select the “See Previous Year End” link under the “Loan Balances” tab. An image of your IRS form(s) will be available under the Statements/Documents tab as soon as it is printed by Homeowners Advantage.
You can submit a written request to:
Attention: Mortgage Servicing Department
4 Winners Circle
Albany, NY 12205
Or email us at email@example.com
You can contact Homeowners Advantage several ways:
We can work with you to determine the best option for your situation. The most important step is to contact us as soon as possible. Even if you have not fallen behind on your payments, but are facing financial difficulties, it is never too early to reach out. Simply call one of our Loss Mitigation Specialists. They are here to help and can present the best options for you. They are available Monday-Friday 8:30 am - 4:30 pm EST - 1-877-266-7722extension 2933
If your home suffered damage and your insurance company has issued an Insurance Claim, the check may be payable jointly to the member and the Homeowners Advantage. When a check is presented to Homeowners Advantage, as the lienholder, for endorsement, we may either:
1) Deposit the check and disburse the proceeds in increments as the repairs are completed.
2) Endorse the check and return it to the member.
Which action depends on several factors such as the amount of the check, the payment status of the loan and the type of repairs needed to be made. Should you receive an Insurance Claim Check, please contact our Servicing Department to speak with one of our Servicing Specialists Monday through Friday at 877-266-7222 extension 3123.
The terms of your Mortgage state that insurance payments are security for your loan and are paid to both you and Homeowners Advantage. Your required insurance policy or policies must carry a current Mortgagee Clause. This clause directs your insurance company to issue claim checks payable to you and Homeowners Advantage in the event that damage to the property results in the payment of a claim.
If you have suffered damages to your home which results in the payment of a claim, you need to contact one of our Insurance Specialists in the Insurance Department at 877-266-7722 extension 3123 as soon as possible during normal business hours. Your claim check should be endorsed by all parties and immediately sent to our insurance department for processing with supporting document, if requested.
Please remember to reference your loan number on the check(s) to expedite processing. Please mail your check to:
4 Winners Circle
Albany, New York 12205
Once received your claim will be reviewed. If the loss has resulted in a claim that does not require repairs to be monitored, your claim check will be endorsed by Homeowners Advantage and returned to you. If the loss requires that repairs be monitored, a claim will be opened to facilitate the repairs to the property. Your claim check will be deposited to a restricted loss draft account for distribution to you.
As the mortgage holder, we have an interest in the property because it serves as collateral for the loan. We must monitor the repair process to ensure that the value and condition of the property is maintained. As repairs are completed, please contact an Insurance Department Specialist at 877-266-7722 extension 3123, so an inspection can be scheduled.
You should contact us to request a final inspection when you are near completion of the repairs. Inspections can be requested by contacting our Insurance Department at 877-266-7722 extension 3123. Additional documentation verifying completion of the work may be required.
If you live in a single family residence, your PMI will automatically terminate when your loan to value reaches 78%. Is some circumstances, you may be able to request early cancellation of your PMI. Please contact the servicing department if determine eligibility for early removal of PMI.
The first step is for you to send in copies of your most recent paid insurance and/or tax bills. Once we have that information, we can calculate the amount you will need to fund the escrow account, and what your monthly payment will be with the tax escrow included. You can then decide if you want to move forward with the escrow account.
In some circumstances, an escrow account is required to remain on the loan. If you wish to remove the escrow account, please submit a written request, and Homeowners Advantage will review your account and determine if you are eligible to have escrows waived. If approved, you will receive an escrow closing notice and will have a 10 day period to decide if you want to keep the escrow account. At the end of the 10 day period, any funds remaining in your escrow account will be refunded to you by check.
Homeowners Advantage is billed electronically for escrowed taxes. In some cases, the municipality will still issue the paper bill to the homeowners. If you have a brand new loan, or a change to your parcel, you can call the Mortgage Servicing Team to make sure the escrow billing is in place.
It's important for you to pay your mortgage as agreed. It is not necessary to stop making payments to receive assistance. If you are having difficulty making your payments or anticipate future difficulty making your payments, Homeowners Advantage has a dedicated Loss Mitigation team to answer questions, provide updates and guide you as needed.
Carefully read the information below, and return all forms and documentation to the Loss Mitigation department as soon as possible. Time is of the essence to avoid further delinquency, so respond quickly to any requests for additional documentation.
Loss Mitigation is the process where we work with struggling borrowers to try and find alternatives to foreclosure, reducing loss for the homeowner as well as the lender. This communication normally occurs between the 17th day of delinquency up to 38 days prior to a foreclosure sale date. However, a borrower who foresees an immediate documented hardship that will prevent payment of the next mortgage payment is welcome to apply for assistance.
Loss Mitigation Options:
Forbearance: Allows for a period of reduced payments with specific terms, that is often associated with a default caused by unemployment. This program requires monthly financial updates as well as a review for a more permanent loss mitigation tool.
Modification: Allows for a change of one or more of the original terms of your mortgage, including the unpaid principal balance, interest rate and/or maturity date. This program requires a financial analysis and often a trial period plan to confirm your ability to manage the new payment.
Reinstatement: Pay the total delinquent amount you owe, in a lump sum payment and by a specific date.
Repayment Plan: Pay back your past due payments together with your regular payments over an extended period of time.
Short Sale: Sell your home and pay off a portion of your mortgage balance when you owe more on the home than it is worth. A contribution and tax consequences may apply. This program also requires a licensed real estate agent and that the property be maintained in ready to show condition.
Deed-in-Lieu: Allows for voluntary surrender of the property. A contribution and tax consequences may apply. This program requires that the property be vacated at the time the deed is executed. .
Please be advised a scheduled foreclosure cannot be canceled for a disposition option without receipt of an acceptable purchase contract at least 19 days prior to sale.
Though default will negatively affect your credit, even during the application and workout process, reported arrangements may be less damaging. The application process is normally 37-60 days, including 30 days to review a complete loss mitigation request. An alternative may take an additional 30-180 days to finalize. As with early intervention, lending guidelines and financial circumstances determine the option available and its terms. If you have any questions, please call 877-266-7722 extension 2933. Any representative will be able to assist you.
Please complete the attached Financial Packet and have the same sent to: Fax to 518-458-5245 or mail to Homeowners Advantage, Attention: Loss Mitigation, 4 Winners Circle, Albany, New York 12205
Documentation includes but is not limited to:
Hardship explanation with supporting documentation as evidence the hardship made the mortgage payment unsustainable. Examples are: Job Loss or Reduced Income, Marital Difficulties, or Living expenses and debts surpassing income (examples of support include paystubs and bank statements from around the time your account fell delinquent and/or a recorded divorce decree/quit claim).
Paystubs or Unemployment Compensation Notice/Pay History
Benefit Income (Including but not limited to SSI, Disability, Retirement, Pension, Survivor/Death Benefits, VA Benefits, Public Assistance, or Adoption Assistance)
Rental or Boarder Income
Notes Receivable or Trust Income
Recorded Divorce Decree and Quit Claim, Recorded Separation Agreement, Court Ordered Maintenance Agreement
Any of these may be required to:
Power of Attorney (POA)
A power of attorney (POA) is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter. A power of attorney may be used when a customer is legally unable to make decisions, or may be unable to attend a meeting, or to sign loan documents. When a transaction is handled by someone other than the named customer, verification of POA is required.
Executors and Administrators: An executor or administrator is a person or institution designated by the terms of a will or appointed by a court of probate to manage the assets and liabilities of the estate of the deceased. A death certificate and documentation verifying designation or appointment of this position must be provided.
The federal government also provides resources and contact information for housing counselors. To learn more, visit the Consumer Financial Protection Bureau, the Department of Housing and Urban Development, or call HUD at (800) 569-4287.