Important Information for Homeowners Impacted by COVID19
During these times of uncertainty, we recognize that some members of our community are experiencing hardships. If you are facing financial struggles related to COVID-19 that are impacting your ability to make your mortgage payments, please see the information below regarding new mortgage relief options:
- Credit Reporting: Servicers must not report to the credit agencies a Borrower who is on an active forbearance, repayment, or trial period plan due to COVID-19 related hardship.
- Forbearance Plans: Servicers may approve forbearance plans for all Borrowers who have COVID-19 related hardship, regardless of property type.
- Loan Modifications: Servicers must conduct Modifications on Borrowers impacted by COVID-19 related hardship as long as the Borrower was current as of the date of the national emergency declaration on March 13th, 2020.
- Foreclosure: Servicers must suspend all foreclosure sales for the next 60 days. Note this does not apply to properties that are vacant or abandoned.
If you are concerned about making your mortgage payments due to job loss or reduction in hours, please reach out directly to your servicer to complete the required paperwork as soon as possible!