The FHFA also amended its separate payment deferral option for homeowners so they can now miss up to 18 months of payments.
The post Borrowers With Fannie Mae, Freddie Mac Mortgages Can Receive Up to 18 Months of Forbearance, Regulator Says appeared first on Real Estate News & Insights | realtor.comÂ®.
Posted To: MND NewsWireThe White House announced on Tuesday that the various COVID-19 relief programs available through The Department of Housing and Urban Development, Veterans Administration, and the Department of Agriculture will be extended. The forbearance program, which allowed homeowners to postpone or reduce mortgage payments, was due to reach the final 12-month mark for many borrowers on March 31. 2021. That has been extended until June 30, 2021. There will also be a provision to allow homeowners who have been impacted by the pandemic to apply to enter the program until June 30, 2021. President Joseph Biden had already extended the foreclosure moratoriums for federally guaranteed mortgages to June 30, 2021 the day after his inauguration. The White House announcement brings the relief efforts of those with...(read more)