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Wednesday
Apr082020

Mortgage Forbearance FAQs

DateWednesday, April 8, 2020 at 9:28AM by AuthorBanking Spectrum
Under the CARES Act, borrowers in a federally backed mortgage loan experiencing a financial hardship due, directly or indirectly, to the COVID-19 emergency, may request forbearance by making a request to their mortgage servicer and affirming that they are experiencing a financial hardship during the COVID–19 emergency. In response, servicers must provide a CARES Act forbearance, that allows borrowers to defer their mortgage payments for up to 180-days and possibly longer.
The Consumer Financial Protection Agency has provide FAQs related to the COVID-19 Emergency - Click Here.

 

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