There’s no doubt COVID-19 has caused much panic for homeowners in the industries most impacted by the pandemic. If COVID-19 has caused job loss, income reduction, sickness, or other issues for your family, relief is available to you as a homeowner.
If you cannot make your mortgage payment due to COVID-19, please contact your current mortgage servicer.
- Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months.
- Homeowners in a forbearance plan will not incur late fees.
- Credit bureau reporting of past-due payments by homeowners in a forbearance plan (as a result of hardships attributable to this national emergency) is suspended.
- After forbearance, a servicer must work with the homeowners on a permanent workout option to help maintain or reduce monthly payment amounts as necessary, including a loan modification.
- Foreclosure sales and evictions of homeowners are suspended for 60 days.
Here are some helpful resources for those impacted by COVID-19:
- For Fannie Mae Loans: www.knowyouroptions.com/loanlookup
- For Freddie Mac Loans: www.myhome.freddiemac.com/
- For FHA Loans: Contact the National FHA Resource Center at 800-CALL-FHA
- For VA Loans: Contact the VA at 877.827.3702