As mortgage relief plans end, what comes next for homeowners?
M
illions of U.S. homeowners facing financial hardship
explanations of mortgage forbearance, when it may be an
related to the COVID-19 pandemic have sought
option, and steps to get started.
mortgage payment relief, or forbearance, allowing them to temporarily pause or reduce their monthly mortgage payments. According to the mortgage data firm Black Knight, as of March 2021, approximately 2.6 million U.S. homeowners remain in an active forbearance plan. It's important they know their options for what happens next. Early in the pandemic, Fannie Mae, a leading provider of home loan and rental housing financing in the U.S., launched an online portal at KnowYourOptions.com with interactive resources to help homeowners and renters, including clear
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Pocono Home
For those who are still feeling the financial impact of COVID-19 or those newly impacted by the economic fallout, it's not too late to get help. "We encourage homeowners and renters facing financial hardship to visit KnowYourOptions.com to learn what options may be available, and to contact their mortgage servicer or landlord to make a plan," said Malloy Evans, senior vice president, Fannie Mae. "It's our top priority to help keep people in their homes."
