CORONAVIRUS ASSISTANCE INFORMATION
July 11, 2019 – the following is information from the Federal Housing Finance Agency. FHFA is closely monitoring the coronavirus national emergency’s effect on the housing finance market and continues to update policies and guidance to ensure its regulated entities – Fannie Mae, Freddie Mac (the Enterprises), and the Federal Home Loan Banks (FHLBanks) – are fulfilling their mission of providing market liquidity during this difficult time.
I will post new information as I find more resources to assist homeowners and renters adversely impacted by COVID-19.
Help for Homeowners:
If your ability to pay your mortgage is impacted, and your loan is owned by Fannie Mae or Freddie Mac (use the “loan lookup” tools: https://www.knowyouroptions.com/loanlookup for Fannie Mae or https://ww3.freddiemac.com/loanlookup/ for Freddie Mac to find out), you may be eligible to delay making your monthly mortgage payments for a temporary period, during which:
- You won’t incur late fees.
- Foreclosure and other legal proceedings will be suspended.
- UPDATE: Federal foreclosure and eviction moratoriums have been extended until at least August 31, 2020 (as reported by Fannie Mae and Freddie Mac)
Help For Renters
If you are a renter and live in a rental unit financed by Fannie Mae or Freddie Mac, you have access to their respective Disaster Response Networks. These networks offer support from HUD-approved housing counselors, such as a personalized recovery assessment and action plan, financial coaching and budgeting, and ongoing check-ins. Contact your property manager to see if you are eligible. Fannie Mae’s renter hotline number is 1-877-542-9723 and Freddie Mac’s renter hotline number is 1-800-404-3097.
Tenant Notice for Postponement of Eviction
Fillable form and tips for tenants affected by COVID-19 to request a postponement of eviction from landlord.
CONSUMER FINANCIAL PROTECTION BUREAU RELEASES VIDEO ON HOW MORTGAGE FORBEARANCE WORKS UNDER CARES ACT
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) has released a video on how struggling homeowners can obtain mortgage forbearance if their finances are impacted due to the COVID-19 pandemic.
Consumers can also visit consumerfinance.gov/coronavirus for up-to-date information and resources to protect and manage their finances.
Beware of Scams
During times of crisis, there is an increased risk of scams and fraud. Protect yourself by asking questions, reading the materials provided to you, and avoiding any solicitations requiring up-front cash payments. If you think you may have been a victim of a scam and your concerns with Fannie Mae, Freddie Mac, or a Federal Home Loan Bank involve fraud, please contact the FHFA Office of Inspector General (FHFA OIG) at 800-793-7724 or visit the FHFA OIG’s website.
Consumer Financial Protection Bureau: Beware of scams related to the coronavirus
Recognize and avoid COVID-19 scams and frauds.
Information regarding Coronavirus-related scams and consumer protection:
Federal Trade Commission: Avoid COVID-19 Scams
Reporting Coronavirus-related Scams
Information regarding reporting Coronavirus-related scams:
MUSINGS FROM DIANE: