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#CONGRESS MORTGAGE STIMULUS PROGRAM HOW TO#
#CONGRESS MORTGAGE STIMULUS PROGRAM UPDATE#
#CONGRESS MORTGAGE STIMULUS PROGRAM MAC#

Protect yourself by asking questions, reading the materials provided to you, and avoiding any solicitations requiring up-front cash payments.

#CONGRESS MORTGAGE STIMULUS PROGRAM MAC#

Information for Tenants in Rental Properties With a Fannie Mae or Freddie Mac Mortgage.ĭuring times of crisis, there is an increased risk of scams and fraud. Fannie Mae’s renter hotline number is 1-87 and Freddie Mac’s renter hotline number is 1-80.įrequently Asked Questions about Enterprise assistance options for homeowners and renters impacted by COVID-19 or Contact your property manager to see if you are eligible. These networks offer support from HUD-approved housing counselors, such as a personalized recovery assessment and action plan, financial coaching and budgeting, and ongoing check-ins. You also have access to their respective Disaster Response Networks. Those experiencing financial hardship should reach out to their landlord to discuss their situation and potential solutions. Renters are still expected to pay their rent during the eviction moratorium period, if they can. Here to find out) are covered by a temporary eviction moratorium. Renters living in a property financed by Fannie Mae or Freddie Mac (use the "loan lookup" tools for Fannie Mae Work with your servicer to determine which option you are eligible for.

Servicers will reach out to you about 30 days before your forbearance plan is scheduled to end to determine which assistance program is best for you at that time.

If you have a sustained reduction in income and are unable to afford your regular monthly mortgage payment, you may be eligible for a loan modification which changes the terms of your loan to enable an affordable payment.

If you can afford to resume your monthly mortgage payment you may be eligible for a payment deferral which puts your missed mortgage payments and puts them into a payment due at the sale, or refinancing of the home, or the end of the loan.

If you are unable to repay your missed payments all at once and can afford to pay a higher monthly mortgage payment for a period of time, you may be eligible for a repayment plan which allows you to repay past due amounts over a period of time.

If you have trouble catching up at the end of this temporary relief period, additional assistance may be available. You are not required to repay missed payments all at once. The telephone number and mailing address of your mortgage servicer should be listed on your monthly mortgage statement. for Freddie Mac to find out), you may be eligible to delay making your monthly mortgage payments for a temporary period, during which:įoreclosure and other legal proceedings will be suspendedĥ steps to ask for mortgage forbearance due to the CoronavirusĬontact your mortgage servicer (the company where you send your monthly payments) as soon as possible to let them know about your current circumstances. If your ability to pay your mortgage is impacted, and your loan is owned by Fannie Mae or Freddie Mac (use the "loan lookup" tools: This website makes it easy to find rental assistance provider in your area.

Renters and landlords who don’t know where to turn can use a new website from the Consumer Financial Protection Bureau. New Resources Available for Renters and Landlords Help for Homeowners Help for Renters Fraud Prevention Industry Resources

#CONGRESS MORTGAGE STIMULUS PROGRAM HOW TO#

If you’re concerned about how to pay your mortgage or rent due to COVID-19, visitĬfpb.gov/housing for information on what to do now, and what your options are for mortgage and rent payment relief. FHFA encourages anyone facing economic hardship as a result of COVID-19 to immediately contact their landlord or mortgage servicer (the company they send their mortgage payments to), to see if they qualify for payment relief. As a financial regulator, FHFA is not able to offer direct assistance or field individual inquiries from renters, landlords, or borrowers. We have gathered resources and information below, including the latest actions by FHFA, that provide guidance for lenders, servicers and others who directly assist homeowners and renters adversely impacted by COVID-19.

#CONGRESS MORTGAGE STIMULUS PROGRAM UPDATE#

FHFA is closely monitoring the coronavirus national emergency’s effect on the housing finance market and continues to update policies and guidance to ensure its regulated entities – Fannie Mae, Freddie Mac (the Enterprises), and the Federal Home Loan Banks (FHLBanks) – are fulfilling their mission of providing market liquidity during this difficult time.