What is mortgage loan modification, and is it a good idea?
Loan modification helps borrowers who can’t pay their mortgage due to financial hardship. Learn more about a loan modification vs. refinance.
Loan modification helps borrowers who can’t pay their mortgage due to financial hardship. Learn more about a loan modification vs. refinance.
The White House extends protections for homeowners in distress that were set to expire in March.
The post Biden Administration Extends Forbearance and Foreclosure Protections Through June appeared first on Real Estate News & Insights | realtor.com®.
Posted To: MND NewsWire
Most of the accommodations that have been allowed lenders and borrowers by the Federal Housing Finance Agency (FHFA) due to the COVID-19 pandemic were modified or extended this past week. FHFA, the regulator and conservator of the GSEs Fannie Mae and Freddie Mac, extended eligibility for mortgage forbearance by three months. Forbearance allows homeowners who are financially impacted by the pandemic, to temporarily reduce or forego mortgage payments. It has been available for three-month terms with extensions available up to a total of 12 months. Existing plans would begin reaching that deadline at the end of March but FHFA has now authorized an additional three-month term , a total of 15 months. An estimated 2.7 million homeowners are in active plans. The COVID-19 Payment Deferral allows forborne…(read more)
Despite five million renters and homeowners missing their December payments, fewer believed they are at risk of eviction or foreclosure, according to research released by the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA). The study revealed that 2.62 million renters (7.9%) and 2.38 million homeowners (5.0%) missed payments. The number of households … [Read more…]
Some good news this morning for homeowners continuing to struggle to make ends meet thanks to COVID-19, which as the name implies has been going on for a while now. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, has just announced an extension to the COVID forbearance period, which was [&hellip
The post You Can Now Request COVID-Related Mortgage Forbearance for Up to 15 Months first appeared on The Truth About Mortgage.
The Federal Housing Finance Agency is extending the length of time that borrowers can be in a COVID-related forbearance on mortgages back by Fannie Mae and Freddie Mac.
The post Borrowers With Fannie Mae, Freddie Mac Mortgages Can Get Additional Forbearance, Regulator Says appeared first on Real Estate News & Insights | realtor.com®.
The economic impact of the COVID-19 pandemic is hitting renters hard, with more than 18% of U.S. renters saying that itâs caused them to fall behind on their monthly housing payments. Thatâs according to a study by Moodyâs Analytics and the Urban Institute, which says around 10 million renters missed rental payments in the last […]
The post 10 million U.S. renters are behind on their monthly payments appeared first on RealtyBizNews: Real Estate News.