Freddie Mac helping out in the COVID-19 Crisis
Extending Help to Homeowners Impacted by COVID-19
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- Ensuring payment relief by providing forbearance for up to 12 months
- Waiving assessments of penalties or late fees
- Halting all foreclosure sales and evictions of borrowers living in homes owned by the company until at least May 17, 2020
- Suspending reporting to credit bureaus of past due payments of borrowers who are in a forbearance plan as a result of hardships attributable to this national emergency
- Offering loan modification options to provide mortgage payment relief or keep those payments the same after the forbearance period
Borrowers are eligible for forbearance regardless of whether their property is owner occupied, a second home or an investment property.
If you are struggling to make your mortgage payments or believe you may fall behind on your payments soon, don’t wait – contact your loan servicer now. They’re here to help you.
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