If you closed on a Dream Home Fund silent second, this page answers the questions you're most likely to have after move-in.
Dream Home Fund does not send you a monthly statement or expect a monthly payment. Your only ongoing obligation is to keep your first mortgage current, maintain hazard insurance with Dream Home Fund named as additional loss payee, and continue to occupy the property as your primary residence.
Even though no payment is due, your balance is still growing each year through simple interest accrual. That accrued interest is real money that will come out of your sale or refinance proceeds. If you want to see how your balance has grown, request an annual statement (see below) or a current payoff figure at any time.
Please notify Dream Home Fund any time your mailing address, email, or phone number changes. Email info@dreamhomefund.com with the subject line "Contact Update" and include your loan number, full legal name, old address, and new address. We will confirm receipt within 5 business days and update our records.
If you have changed your legal name (marriage, divorce, court order), include a copy of the supporting document with your update.
You or an authorized party (escrow officer, title officer, refinance lender, attorney) may request a payoff statement at any time. Email payoffs@dreamhomefund.com with the subject line "Payoff Statement Request" and include:
Dream Home Fund will issue a written payoff statement within 5 business days of receiving a complete request. Payoff statements are valid through the "good through" date stated on the statement; if your closing slips past that date, request an updated payoff.
When you sell, the full balance (principal plus accrued interest) is due and payable at closing from sale proceeds. Steps:
Dream Home Fund's refinance policy:
To request re-subordination, your new first mortgage lender should email partners@dreamhomefund.com at least 15 business days before the planned closing date with the subject line "Subordination Request" and the documentation listed in the Lender Program Manual.
If a borrower passes away, the surviving borrower (if any) may continue to hold the property and the silent second; no acceleration is triggered by death alone. Heirs may (1) keep the home and assume the property subject to the silent second, (2) refinance into their own first mortgage and pay off the silent second from the refinance, or (3) sell the home and pay off the silent second from sale proceeds. Contact Dream Home Fund within 90 days of a borrower's death to begin the process.
If you and a co-borrower divorce and one party will keep the home, that party typically refinances into a single-borrower first mortgage and at the same time pays off the silent second. Dream Home Fund does not assume the silent second to the remaining party; the silent second is paid off at the refinance. Contact us as soon as the divorce decree assigns the property so we can coordinate timing.
Adding a non-borrower spouse to title generally does not trigger the silent second so long as you remain an owner-occupant. Notify Dream Home Fund of any title change within 30 days.
Transferring the property into a revocable living trust where you remain a beneficiary and continue to occupy the home is permitted with prior written notice to Dream Home Fund. Email us a copy of the trust certification before recording.
If you are facing hardship and cannot keep your first mortgage current, contact your first mortgage servicer immediately. They can discuss forbearance, repayment plans, loan modification, or other loss mitigation options. Dream Home Fund's silent second does not interfere with these workouts and we will coordinate with your servicer as needed.
You may also contact a free HUD-approved housing counselor. Find one at hud.gov/findacounselor or by calling 1-800-569-4287.
Once per calendar year, Dream Home Fund will email each active borrower a simple year-end statement showing your principal balance, accrued interest as of December 31, total amount owed, and the year-end statement of the loan's good standing. This is informational only; you have no payment obligation.
If you would like a current statement at any other time, request one via info@dreamhomefund.com.
For any current-borrower question, write to info@dreamhomefund.com. Include your loan number, full name, and property address so we can pull your file.
For complaints or grievances about Dream Home Fund's handling of your loan, see our Complaints & Grievances page for the full escalation path, including external regulators.