California has halted all evictions until May 31, 2020, Kansas has temporarily prohibited evictions and foreclosures across the state until May 1, 2020, and New York Governor Andrew Cuomo announced last week that mortgage payments will be suspended for 90 days.
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Fannie Mae and Freddie Mac are providing payment forbearance to borrowers impacted by the coronavirus for up to one year. President Trump ordered the Department of Housing and Urban Development (HUD) to suspend evictions and foreclosures for 30 days, though that moratorium only applies to those with mortgages secured by the Federal Housing Administration. If you have Less than 5 in Equity in Your Home you should check out HIRO HIRO loan program replaced HARP, which was first enacted by Congress in 2009. To Access the Mortgage Stimulus and See If You’re Eligibility Go Here. Key background: The federal government and state governments have already stepped in to ramp up protections for homeowners and renters who are struggling as a result of the coronavirus outbreak. The middle-class mortgage stimulus package.
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As the Consumer Financial Protection Bureau advises, “you can find the number for your mortgage servicer on your monthly mortgage statement or coupon book.”įHFA has established a dedicated webpage with relevant updates and resources available here: Additionally, Fannie Mae and Freddie Mac have their own dedicated webpages for homeowners, with online tools for determining if your mortgage is owned by Fannie Mae or Freddie Mac:įreddie Mac: Extending Help to Homeowners Impacted by COVID-19ĬFPB, FHFA, & HUD Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19: The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), and the Department of Housing and Urban Development (HUD) has launched a new mortgage and housing assistance website: /housing. This joint website consolidates the CARES Act mortgage relief, protections for renters, resources for additional help, and information on how to avoid COVID-19 related scams. 2 million homeowners just missed their opportunity to save on their mortgage through congress’ mortgage relief program, don't be one of them too. The closest thing is Fannie Mae’s high LTV refinance option or a Streamline Refinance. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, encourages homeowners adversely impacted by the coronavirus who are having difficulty paying their mortgages to reach out to their mortgage servicers as soon as possible. There is no Congress mortgage stimulus program for 2020. There are hardship programs in place to help homeowners who have been directly or indirectly affected by the coronavirus and are struggling to make their mortgage payments.