“The Department of Housing and Urban Development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of April,” Trump said.
The Federal Housing Finance Agency also announced that it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days. This applies to homeowners whose single-family mortgage is backed by either Fannie Mae or Freddie Mac.
If you are a borrower affected by the coronavirus and now having difficulty paying your mortgage, it is highly advised to reach out to your mortgage servicer as soon as possible.
A good option is called payment forbearance, which would allow affected borrowers to suspend their mortgage payment for up to 12 months due to hardship caused by the coronavirus.
The housing industry is banding together to protect homeowners, renters, the housing economy and our professions. Please call our team at Focus Capital Funding if we can be of any assistance! We are all in this together.
Focus Capital 1-888-758-3004