Homeowner Assistance Program (HOAP)

Temporary financial difficulties like job loss, marital separation and illness are just some of the curveballs life can throw your way. These events may put pressure on household income, but they shouldn’t cost you your home. Sagen™’s Homeowner Assistance Program (HOAP) helps qualified homeowners weather short-term financial hardships.

Life happens.
HOAP can help.

A man and woman hugging in a greenhouse

Our dedicated team of Homeowner Assistance Analysts work collaboratively with our lenders to assess each person’s circumstances carefully. Together, we try to find a solution to help bridge the gap between the impacts of unexpected hardship and a homeowner getting back on their feet.

Our team explores every option to help homeowners in need; from deferring payments to a later time, to increasing amortization periods, to introducing partial or shared payment plans and more. Whatever the situation, we’ll do whatever we can to try to find a solution.

The HomeAssist Portal is an additional avenue which can be utilized to send referrals to Sagen™. Through this portal, borrowers will be able to provide all the required information to Sagen™ for the Homeowner Assistance Program review including their mortgage and financial details.

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HOAP
by the
Numbers

51,000

Sagen™-insured homeowners have stayed in their homes with HOAP

96%

of homeowners who apply are able to keep their homes

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Stories of HOAP

Learn how we’ve helped our homeowners

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Katherine, a single mother, has made the leap to owning her first house.

She and her young children, have taken pride in their new surroundings.

It’s also gives her a sense of empowerment and confidence, she realizes that a home isn’t just

an investment, it’s a place to make new memories.

But making mortgage payments has been a challenge, mainly as a result of her recent divorce, impacting her cash flow, creating anxiety.

And with the economy facing a downturn, her hours were reduced adding additional worries to her life.

Her financial concerns, cause her to raise questions like…

How am I going to get through this? What am I going to do if I can’t? When is this going to lift?

She took her concerns to her financial institution, and they indicated her mortgage was covered by Sagen’s Home Owners Assistance Plan.

Curious, Katherine contacted Sagen directly to better understand their support.

Her conversation with a customer service rep, eased her mind and wallet. She and Sagen negotiated to share her mortgage payment 50/50.

In fact, Sagen, took care of a full month payment and half of the next, just to give her a bit more room to financially catch her breath.

This solution was a life saver, the relief she felt from that call and the solution provided, made her cry.

Now she can concentrate and making a beautiful home for her children, comforted by Sagen’s rescue.

She was incredibly impressed by the service and compassion exhibited by the rep on the other side of the line.

And it really made the world of difference, in her world, in her life.

Thanks to Sagen, Katherine describes this event as feeling like winning the lottery.

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Greg’s life was like a dream come true, college educated, awesome career, nice home and a young family, but a series of unfortunate incidents regarding health rocked his world to the core.

Struck down by illness, he was off work for three and a half months. And was just back to the office when the next blow landed, he was laid off. Desperately he needed some financial relief to keep his head above water.

He nervously approached his lender to indicate that tough times meant choosing between and mortgage payments and putting food on the table.

Recognizing his dilemma, the lender reached out to Sagen to see if the Homeowner Assistance Program would apply? Much to Greg’s relief the Sagen customer representative pulled together a solution that saved the day. Buying him the time to get back on his feet.

Greg, became confident that getting through this was doable, his situation could be fixed. He was most impressed by the compassion, dignity and respect shown by Sagen, they assured him of their team player approach and unwavering support to see him not just survive, but go on to thrive.

With his health now restored and his mortgage concerns settled, Greg is back on his feet and ready to turn a new page in his life.

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Jason and Shelly lovingly, designed and built their new house. It was their pride and joy. Made with love, they anticipated raising a family in cozy nest.

They had no idea, that an accident would shatter their health and dreams for the future.

Miraculously, they survived a collision with a transport truck, but their bodies were impacted and the bills and stresses of recovery mounted.

Clearly realizing their predicament could get much worse, they approached their lender to explore options for treating their financial health.

Sagen was just what the doctor ordered, working together with their bank, the solution was not as identified and put into motion.

Not only were they provided financial relief, but the overall process felt impressively simple and effortless. No jumping through hoops or being made to feel helpless and vulnerable.

Sagen aided in empowering the couple to find a way out before life became too grim.

The entire experience has brought them closer together and restored their faith in fairness and the pursuit of regaining their lives back.

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When should you contact us? You should contact us as soon as you know your customer is having or about to have difficulties. This allows us to present you with a wider variety of solutions.

You can contact us at 1-844-711-4627 and speak to one of our Homeowner Assistance Specialists.

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Have a Question? Find Your Answer Here.

There are a variety of situations that may affect a homeowner’s ability to make their mortgage payments. Some common situations include:
  • Job loss or reduced income
  • Marital separation
  • Unexpected illness or disability
We will consider a variety of solutions that may alleviate the temporary financial burden of the homeowner. Each situation is assessed individually to determine if a workout is possible, and what the ideal workout solution is. Some common options that can be considered are:
  • Capitalize arrears
  • Increase amortization period
  • Partial or shared payment plan
  • Deferred payments
  • Restructure mortgage
Sagen™’s Homeowner Assistance Program is an effective avenue that can provide valuable assistance to your customers when they need it most. Here are some easy steps you can take, when a customer contacts you requesting financial assistance, which will help achieve a successful workout:
  1. Identify the problem
  2. Gather all the facts
  3. Investigate & analyze
  4. Contact Genworth Canada
  5. Create and implement a plan
There are a variety of situations that may affect a homeowner’s ability to make their mortgage payments. Some common situations include:
  • Job loss or reduced income
  • Marital separation
  • Unexpected illness or disability
  • Natural Disasters
We will consider a variety of solutions that may alleviate your temporary financial burden. Each situation is assessed individually to determine if a workout is possible, and what the ideal workout solution is. Some common options that can be considered are:
  • Capitalize arrears
  • Increase amortization period
  • Partial or shared payment plan
  • Deferred payments
  • Restructure mortgage
  • Assistance with sale of the property
Sagen™ Homeowner Assistance Program is an effective avenue that can provide valuable assistance to customers when they need it most. If you are interested in getting more information about the program, please contact Sagen™ Homeowner Assistance Program team.
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Speak to a HOAP Specialist