{"id":17249,"date":"2020-04-28T12:18:37","date_gmt":"2020-04-28T12:18:37","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17249"},"modified":"2020-04-28T12:18:37","modified_gmt":"2020-04-28T12:18:37","slug":"fhfa-wont-require-lump-sum-payment-after-forbearance","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/fhfa-wont-require-lump-sum-payment-after-forbearance\/","title":{"rendered":"FHFA Won\u2019t Require Lump-Sum Payment After Forbearance"},"content":{"rendered":"

FHFA Won\u2019t Require Lump-Sum Payment After Forbearance<\/h1>\n
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The Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, said Monday that it will not require homeowners who take mortgage forbearance due to financial hardship from the COVID-19 pandemic to make up the missed payments in a lump sum.<\/p>\n

The FHFA made the announcement after news stories cautioned that homeowners who take forbearance would be on the hook to repay missed payments in a lump sum as soon as their forbearance period ends. Recent stimulus legislation had not clarified the repayment process. Borrowers with Fannie- and Freddie-backed loans who take forbearance will be contacted by their mortgage servicer before the end of their forbearance period to work out repayment options, which may include modifying the loan so the borrower\u2019s payments are added to the end of the mortgage.<\/p>\n

So far, more than 3.4 million homeowners\u2014or 6.4% of all U.S. mortgage loans\u2014are now in forbearance, according to data firm Black Knight Financial. In some cases, mortgage servicers have offered forbearance periods of up to a year. \u201cDuring this national health emergency, no one should be worried about losing their home,\u201d FHFA Director Mark Calabria said in a statement. \u201cWhile today\u2019s statement only covers Fannie Mae and Freddie Mac, I encourage all mortgage lenders to adopt a similar approach.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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Federal Housing Finance Agency<\/a> and \u201cFannie-Freddie Won\u2019t Require Lump-Sum Forbearance Repayments<\/a>,\u201d Bloomberg (April 27, 2020)<\/div>\n
National Association of REALTORS<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

FHFA Won\u2019t Require Lump-Sum Payment After Forbearance The Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, said Monday that it will not require homeowners who take mortgage forbearance due to financial hardship from the COVID-19 pandemic to make up the missed payments in a lump sum. The FHFA made the … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17249","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFHFA Won\u2019t Require Lump-Sum Payment After Forbearance - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/fhfa-wont-require-lump-sum-payment-after-forbearance\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fhfa-wont-require-lump-sum-payment-after-forbearance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fhfa-wont-require-lump-sum-payment-after-forbearance\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"FHFA Won\u2019t Require Lump-Sum Payment After Forbearance\",\"datePublished\":\"2020-04-28T12:18:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fhfa-wont-require-lump-sum-payment-after-forbearance\\\/\"},\"wordCount\":250,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fhfa-wont-require-lump-sum-payment-after-forbearance\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fhfa-wont-require-lump-sum-payment-after-forbearance\\\/\",\"name\":\"FHFA Won\u2019t Require Lump-Sum Payment After Forbearance - 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