{"id":17026,"date":"2020-03-12T14:07:05","date_gmt":"2020-03-12T14:07:05","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17026"},"modified":"2020-03-12T14:07:05","modified_gmt":"2020-03-12T14:07:05","slug":"options-available-to-owners-affected-by-coronavirus","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/options-available-to-owners-affected-by-coronavirus\/","title":{"rendered":"Options Available to Owners Affected by Coronavirus"},"content":{"rendered":"

Options Available to Owners Affected by Coronavirus<\/h1>\n
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Borrowers who are unable to make their monthly mortgage payments due to COVID-19, also known as the coronavirus, have options to postpone payments, according to a new statement released by the Federal Housing Finance Agency. FHFA Director Mark Calabria reminded mortgage servicers this week to offer forbearance options to those who are affected as the virus continues its spread through the U.S.<\/p>\n

\u201cTo meet the needs of borrowers who may be impacted by the coronavirus, last week Fannie Mae and Freddie Mac reminded mortgage servicers that hardship forbearance is an option for borrowers who are unable to make their monthly mortgage payment,\u201d Calabria said in a statement. \u201cFor borrowers that may be experiencing a hardship, I encourage you to reach out to your servicer.\u201d<\/p>\n

The Federal Housing Administration also announced mortgage payment assistance available to those impacted by the virus. \u201cAs with any other event that negatively impacts a borrower\u2019s ability to pay their monthly mortgage payment, FHA\u2019s suite of loss mitigation options provides solutions that mortgagees should offer to distressed borrowers\u2014including those that could be impacted by the coronavirus\u2014to help prevent them from going into foreclosure,\u201d the FHA said in a statement.<\/p>\n

Forbearance options are available not only to those sick from the virus but also owners who may be facing a temporary hardship from it, such as a borrower who is quarantined and unable to work.<\/p>\n

Read more coronavirus and real estate coverage:<\/p>\n