Posted To: MND NewsWire

The Acting Secretary of the Department of Housing and Urban Development (HUD) has announced an extension of the deadline for borrowers with FHA mortgage loans to apply for and receive forbearance. Matthew Ammon said up to six months of deferred or reduced mortgage payments may be available to homeowners financially impacted by the pandemic who request it by March 31, 2031. An additional six-month extension to the initial forbearance term is possible. Ammon said, “On the first day of his new Administration, President Biden took immediate actions to stem the economic devastation experienced by the nation’s hardworking families because of the pandemic. Today’s extension supports the President’s direction by providing more time for homeowners to seek mortgage payment relief.” The changed timeline…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Published On: January 27, 2021 / Categories: Mortgage News /