Federal Housing Administration expands assistance options for borrowers struggling to make mortgage payments
The Federal Housing Administration (FHA) announced that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages.
Mortgage relief: What you need to know before you call your lender
HOUSTON – Many homeowners that are having a hard time paying their mortgage during this pandemic can ask their mortgage company for help. But Consumer Reports researchers said many mortgage companies were giving homeowners who called inaccurate information. There are four options homeowners and mortgage companies can choose to repay those skipped payments back when the homeowner gets back on their feet. You can find out if you have a federally-backed mortgage, by using Fannie Mae’s look-up tool or calling 800-232-6643. If your mortgage is federally backed, and you need help, call your mortgage company back and ask for it.