Amidst these challenging times, each family faces their own personal and/or financial situation. That is why both Fannie Mae and Freddie Mac have enhanced their programs for Unemployment Forbearance.
If you or a family member have recently lost their job and are concerned about continuing mortgage payments, please know that there are options available to you.
Under forbearance, a mortgage servicing company, bank, or lender, can lower the monthly mortgage payments for a short period or completely suspend them depending on the circumstances of the homeowner’s situation.
How may this apply to you? If you are facing unemployment and would like to know if you qualify for Unemployment Forbearance, you can call your mortgage servicer, bank, or lender and ask if your mortgage is guaranteed by either Fannie Mae or Freddie Mac. If so, a forbearance program may be an option for you.
To learn more please visit the links below:
https://www.needhelppayingbills.com/html/fannie_and_freddie_unemploymen.html
https://www.knowyouroptions.com/
https://www.needhelppayingbills.com/html/mortgage_forbearance_programs.html
https://www.hud.gov/sites/documents/UNEMPLYMTFACTSHEET.PDF
We understand these are difficult times and are here to help in providing resources you need to get through this.