Forbearance allows for a mortgage payment to be suspended for up to 12 months due to hardship caused by the coronavirus. Fannie Mae, Freddie Mac and the Federal Home Loan Banks are taking steps to help people who have been impacted by the coronavirus.
Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
- You won’t incur late fees.
- You won’t have delinquencies reported to the credit bureaus.
- Foreclosure and other legal proceedings will be suspended.
- Contact your mortgage servicer and request mortgage assistance due to COVID-19.
1. Identify Your Mortgage by entering your address into theFannie Mae Look-up Tool and Freddie mac Look-up Tool.
Fannie Mae Look-up Tool: https://www.knowyouroptions.com/loanlookup
Freddie mac Look-up Tool: https://ww3.freddiemac.com/loanlookup/
2. Contact Your Mortgage Servicer and ask for mortgage assistance:
Bank of America
Lakeview Loan Servicing, LLC
Mr. Cooper a/k/a Nationstar
PHH Mortgage Services Phone: 888-820-6474