NewRez's Payment Deferral Program, Not a Skip Option
NewRez does not offer a traditional "skip a payment" program where you simply postpone one monthly payment. Instead, NewRez—which services mortgages for loans it owns or manages on behalf of investors—offers payment deferral, which is different. A deferral temporarily reduces or suspends your payment, but the skipped amount gets added to the end of your loan or rolled into a modified payment plan. You do not avoid paying it; you delay when you pay it.
NewRez handles mortgages across conventional, FHA, VA, and USDA loans. The deferral options available to you depend on your loan type, your loan investor's rules, and whether you are experiencing a documented hardship. If you are current on your mortgage and simply want to skip one payment for cash flow reasons, NewRez will not grant that. If you have fallen behind or face a temporary hardship—job loss, medical emergency, reduced income—you have a better chance of accessing a deferral.
Key Takeaways
- NewRez offers payment deferral for borrowers facing hardship, but this adds the skipped payment to the end of your loan or into a new payment plan rather than erasing it.
- Conventional loans, FHA loans, VA loans, and USDA loans each have different deferral rules set by their loan investors, so your options depend on your loan type.
- You must contact NewRez directly by phone or through your online account to request a deferral; there is no online form to submit a deferral request.
- NewRez will ask for proof of hardship—pay stubs, tax returns, bank statements, or a written explanation of your situation—before approving any deferral.
- A deferral is temporary and typically lasts one to three months; after that period ends, your regular payment resumes, and you begin repaying the deferred amount.
How NewRez Deferral Works vs. a Payment Skip
When you skip a payment on a credit card or personal loan, that payment simply does not happen—you owe less that month. A mortgage deferral is not the same. NewRez will allow you to pause or reduce your payment for a set period, but the money you did not pay still belongs to the lender. At the end of the deferral period, NewRez will either add those skipped payments to the end of your loan (extending your payoff date) or roll them into a modified payment plan where you pay a higher amount each month for a set time.
For example, if your payment is $1,200 and NewRez approves a three-month deferral, you might pay $0 for three months. After that, NewRez will add $3,600 to your loan balance, and you will resume regular payments—or you might agree to pay $1,400 per month for the next 12 months to catch up faster. The structure depends on what NewRez and your loan investor will accept.
The key difference: a skip erases the payment; a deferral postpones it. NewRez cannot erase a payment because the loan investor—the entity that actually owns your mortgage—sets the rules. NewRez is the servicer, meaning it collects your payment and passes it along, but it does not own the loan and cannot forgive debt.
Loan Types and Deferral Rules at NewRez
NewRez services mortgages across multiple loan types, and each has different deferral rules because each loan type is backed by different investors or government agencies.
Conventional loans (not backed by a government agency) may offer deferral if the loan investor allows it. Some conventional investors are more flexible than others. FHA loans (backed by the Federal Housing Administration) have formal forbearance rules that allow you to pause or reduce payments for up to 12 months, though the deferred amount must be repaid. VA loans (for veterans) have similar forbearance options, and the VA may assist with repayment plans. USDA loans (for rural borrowers) also allow forbearance under USDA guidelines.
If your loan is in default or you are behind on payments, NewRez may offer a loan modification instead of a simple deferral. A modification changes the terms of your loan—extending the payoff period, lowering the interest rate, or adding arrears to the balance—and results in a new payment amount. This is more formal than a deferral and requires paperwork, but it can provide longer-term relief.
How to Request a Deferral from NewRez
Contact NewRez directly to request a deferral. You can reach them by phone at the number on your mortgage statement, or log into your online account at NewRez's borrower portal. There is no online form to submit a deferral request; you must speak with a representative or send a written request through your account.
When you contact NewRez, have the following ready: your loan number, your name and address as they appear on the mortgage, and a clear explanation of your hardship. Be specific—do not say "I need a break." Instead, say "I lost my job on [date] and have no income until [date]" or "My hours were cut from 40 to 20 per week, reducing my income by $800 per month." NewRez will ask follow-up questions about your situation and may request documents.
NewRez typically responds to deferral requests within 5 to 10 business days, though this can vary. If you are behind on payments, the process may take longer because NewRez will need to review your full account history and determine whether you are a candidate for deferral or modification.
Documents NewRez May Request
NewRez will ask for proof of your hardship before approving a deferral. Common documents include recent pay stubs (usually the last two or three), tax returns from the past year, bank statements showing your current balance and recent transactions, and a written statement explaining your situation. If you are unemployed, bring a termination letter or separation notice. If your hours were reduced, bring a letter from your employer or recent pay stubs showing the reduced hours.
If you are self-employed or your income is irregular, bring profit-and-loss statements or tax returns covering the past two years, plus bank statements showing deposits. NewRez uses these documents to verify that your hardship is real and to calculate how much of a deferral you can afford. If your documents are incomplete, NewRez will ask you to resubmit or provide additional information before making a decision.
What Happens After Your Deferral Ends
A deferral is temporary, typically lasting one to three months. When the deferral period ends, your regular payment resumes. At that point, you will begin repaying the deferred amount according to the plan NewRez approved. If the deferred payments were added to the end of your loan, your payoff date will shift later, but your monthly payment stays the same. If NewRez structured it as a catch-up plan, your payment will be higher for a set period—for example, $1,400 instead of $1,200 for the next 12 months.
If you cannot resume payments when the deferral ends, contact NewRez immediately. Do not wait until you miss a payment. Explain your situation and ask whether you can extend the deferral, modify the catch-up plan, or explore a loan modification. NewRez is more likely to work with you if you reach out before you fall behind again.
If you do miss a payment after the deferral ends, NewRez will report the missed payment to credit bureaus, and you will accrue late fees. This can damage your credit score and make it harder to borrow money in the future. Staying in contact with NewRez is your best protection.
Alternatives If NewRez Denies Your Deferral Request
If NewRez denies your deferral request, you have other options. Ask NewRez whether you are a candidate for a loan modification, which is a more formal process but can provide longer-term relief. A modification requires you to submit a full financial package—income, expenses, assets, debts—and NewRez will evaluate whether it can restructure your loan to make payments affordable.
You can also contact a HUD-approved housing counselor through the National Foundation for Credit Counseling (NFCC) or by calling 1-800-569-4287. These counselors are free and can review your situation, help you prepare documents, and sometimes advocate on your behalf with NewRez. They can also tell you whether you might be a candidate for other programs, such as state or local hardship assistance.
If you believe NewRez has treated you unfairly or violated mortgage servicing rules, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB investigates complaints and can require NewRez to respond.
Frequently Asked Questions
Can I skip a payment if I am current on my mortgage?
No. NewRez only offers deferral to borrowers facing a documented hardship—job loss, reduced income, medical emergency, or similar. If you are current and simply want to skip a payment for cash flow, NewRez will deny the request. Your only option is to make the payment on time.
Will a deferral hurt my credit score?
A deferral itself does not hurt your credit if you are current when you request it. However, if you are already behind on payments when you request a deferral, the missed payments will have already been reported to credit bureaus. Once the deferral is approved and you resume payments, the damage stops getting worse, but the past missed payments remain on your report for seven years.
What if I cannot afford the payment when the deferral ends?
Contact NewRez before the deferral ends and explain your situation. Ask whether you can extend the deferral, adjust the catch-up plan, or pursue a loan modification. Do not wait until you miss a payment. NewRez is more willing to work with you if you reach out proactively.
How long does a deferral last?
Most deferrals last one to three months, though this varies by loan type and investor. FHA loans may allow up to 12 months of forbearance under certain circumstances. Ask NewRez what length of deferral they can offer and what will happen when it ends.
Can NewRez force me to accept a loan modification instead of a deferral?
NewRez cannot force you to modify your loan, but if your hardship is long-term or you are significantly behind, NewRez may recommend modification as a better option than deferral. You can decline and ask for deferral only, but understand that deferral is temporary and modification may be your only path to long-term affordability.