DSNews.com released an article announcing some COVID Forbearance extensions that might allow some American homeowners to breathe a sign of relief. As a result of the “continued impact of the pandemic”, the Federal Housing Administration is providing extended COVID-19 relief for some homeowners.
The extension specifically applies to borrowers who only recently became affected by the pandemic and are seeking mortgage relief. According to the article, Principal Deputy Assistant Secretary for Housing Lopa Kolluri indicated, “Our top priority is to help as many individuals and families as possible to recover from the COVID-19 pandemic and keep their home.”
As a result, borrowers who are newly affected by the pandemic can now receive up to 6 months of COVID-19 Forbearance. Additionally, up to 6 months of additional relief may be provided to borrowers who made requests in the past several months, between July 1, 2021 and September 30, 20201.
Read the entire article and see details of the forbearance periods and extensions.