NEWS: Mortgage Relief for those Affected by COVID-19

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Do you have a federally-backed home loan? 



The mortgage moratorium has just been extended through the end of this year - December 31st, 2020. The CARES Act applies to homeowners who have federally-backed loans through the following agencies:
  • Fannie Mae or Freddie Mac (there are look-up tools on each of these websites to help you find out if you have a federally-backed loan.)
  • VA 
  • FHA
  • USDA
The CARES Act provides two types of relief: right to a forbearance and the foreclosure moratorium. In order to obtain a forbearance, or the temporary suspension of the borrower's duty to make full mortgage payments, you must get the servicer of your loan to agree to this forbearance. You can submit this request if you have directly or indirectly been financially affected by COVID-19. Once you have proven your COVID-related financial hardship, the forbearance must be granted.

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